GameStop, the nonfungible token (NFT) marketplace for American video game retailer, has officially gone LIVE on the Ethereum layer-2 blockchain ImmutableX, all part of the latest Web3 push from the gaming retailer.
It has been reported that the pair first partnered in February to build the marketplace offering a $100 million grant for NFT content creators and tech developers before a public beta of the NFT marketplace debuted in July.
However, with the October 31 announcement of the full launch, GameStop’s market will allow for popular Web3 games on ImmutableX such as the role-playing game Illuvium and Gods Unchained to be accessed by users. GameStop has worked to launch a series of Web3-powered products over the past year, with a beta self-custody crypto wallet released in May that integrates with its NFT marketplace.
The report said that in March, the retailer also launched its first beta NFT marketplace on Loopring, an Ethereum-based layer-2 protocol. Most recently in September, GameStop announced a partnership with FTX US aimed at bringing more customers to crypto and working together on e-commerce and online marketing initiatives.
Likewise, the Hong Kong government on October 31 released a policy statement that set out its stance on virtual assets and detailed its related pilot projects, one of which involved NFTs. Its NFT-based project is a proof-of-concept to promote the usage of NFTs with the government Financial Services and the Treasury Bureau (FSTB) and foreign investment department InvestHK issuing NFTs at their flagship Hong Kong Fintech Week event.
The NFT serves as proof of attendance for the conference-goers, with the statement saying it’s a “digital badge and memento using blockchain technology in celebration of their participation.” The NFT can also be used to create an Augmented Reality (AR) avatar “to experience the Metaverse” while at the event and holders will receive a discount on tickets for the event in 2023.
Although it’s not mentioned what blockchain the NFTs are minted on they can be stored in a crypto wallet or for those who are without a wallet, they can be stored as what the statement calls an “NFT-to-be” with a user storing it on an email address until they create a digital wallet.
Thus, Hong Kong Fintech Week kicked off on October 31 and sees speakers from a range of Web3 firms including Yat Siu, co-founder of Animoca Brands, Sam Bankman-Fried, co-founder of FTX, and Sebastien Borget, co-founder of The Sandbox metaverse and others.