Video game retail giant Gamestop has revealed it is partnering with the layer two (L2) Ethereum scaling project Immutable X.
previously worked with the social media company Tiktok in September. The project’s website claims that it’s the “first layer two for NFTs on Ethereum” and Immutable X participants experience “zero gas fees, instant trades, and carbon-neutral NFTs for marketplaces, games, and applications without compromise.”in IMX tokens that will be used for creator grants. “We seek to fund game changers,” Gamestop says about the $100 million grant fund.
“The partnership establishes an up to $100 million fund in Immutable X’s IMX tokens, which the parties intend to use for grants to creators of non-fungible token content and technology,” Gamestop’s announcement details. The company added: “Immutable X will also become a layer-2 partner and platform for Gamestop and the company’s NFT marketplace that is expected to launch later this year. In addition, the terms provide for Immutable X providing up to approximately $150 million in IMX tokens to Gamestop upon the achievement of certain milestones.”
Gamestop also says that the collaboration deal will be filed with the U.S. Securities and Exchange Commission . “The partnership agreement and other relevant information will be disclosed on Form 8-K with the [SEC],” the video game retailer notes.
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