Gamestop to launch a $100 million fund to invest in gaming NFT'S

After tipping off its plans for the metaverse in a Web 3 job posting last October, GameStop is partnering with Immutable X for the launch of its non-fungible token (NFT) marketplace, the company announced Thursday.

The gaming retail giant said it tapped the Ethereum Layer 2 solution due to the network’s “zero gas fees for trading and minting NFTs in a carbon-neutral environment,” according to a press release.

GameStop plans for its marketplace to include “billions of low-cost, in-game assets that can easily be bought and sold,” specifically mentioning digital real estate and in-game skins to be included.

The marketplace is tapping Starkware for help with its backend, which is a zero-knowledge proof technology that can combine thousands of Ethereum transactions into one.