GameStop confirms they’re building an NFT marketplace

As suggested last month, GameStop is participating in . Companies have with Immutable X to build the marketplace for NFTs, they are expected to open later this year.

People will be able to buy and sell NFTs linked to digital assets for use in various games. Items will include things like virtual real estate, character skins, and weapons, according to The Verge.

Immutable X is based on the Ethereum blockchain, which requires significant and high energy consumption (a crypto payment is required to make an Ethereum transaction). The platform claims to alleviate those downsides by combining multiple NFT sales into a single Ethereum transaction and carbon offset buying. As such, Immutable X, has partners including several blockchain games and , which promises zero gas charges and carbon-free NFTs.

GameStop and Immutable X hope to attract game developers to use the marketplace with the help of . Whether the developers and studios will come to terms with tit-for-tat remains to be seen.

For the Annual Game Industry State Survey, Game Developers Conference poll more than 2,700 developers. It shows that 70% of them and their studios are not interested in NFT, while 72% are not interested in bundling crypto into their game. About 28% said they were at least interested in NFT.

Over the past few months, several studios, publishers and industry figures have announced NFT projects, only to abandon their plans after a backlash. developer , publishing company and outstanding game voice and motion capture actors all supported by their NFT programs.

Ubisoft included NFTs in one of its games for the first time in December, but it looks like sales . Last week, a Ubisoft executive Discuss that, for gamers, being able to sell virtual items to others is “really beneficial. But they’re not getting that right now.”

Time will tell whether GameStop’s latest attempt is next last year, proved successful. However, the signs do not look promising for the market. It should be noted that the Steam marketplace already allows players to buy and sell in-game items for several years without the shadow of NFTs looming over it.

NFT is designed as a public record of ownership of digital assets. The idea that the owner of the NFT owns the content (including things like music, digital artwork, and in-game items), even though the NFT is, in fact, an already-identified URL. just points to the file. The owner of the URL’s destination can or delete the file in question. This week, the artists HitPiece, which has since gone offline, is minting and selling NFTs of their music without permission.

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