Share prices of popular video game chain GameStop (GME) surged about 13% in one day amid rumors circulating online about partnering with Microsoft to work on NFT games.
At the time of writing, GME prices were $115.60 at the close of February 8th and remain at that level in after-hours trading, according to TradingView.
GME started in February at the $100 level and went up with GameStop’s partnership with Immutable X, a Layer-2 Ethereum scaling solution, to develop the upcoming NFT market. And as part of the deal, GameStop will launch a $100 million IMX-denominated grant program for NFT content creators and technology developers.
Meanwhile, recent rumors circulating through channels such as Reddit and Twitter suggest that GameStop may partner with Microsoft to launch NFT integration into existing games. Along with creating new games that focus on NFT.
Twitter user P_MackD shared some pictures this morning. Here’s a compilation of tweets from Immutable X and a Microsoft executive who posted: “Probably nothing” about the main partnership with GameStop
In particular, Yorke Rhodes III, director of Microsoft’s blockchain division, also tagged Xbox, Microsoft and GameStop in his tweets. That could imply that the tech giant may play a role in the partnership with Immutable X and GameStop behind the scenes.
Although it is unclear what the relationship between the three parties is,postOn February 6, the r/Superstonk Reddit community outlined several notable hypotheses.
bamfcoco1 discusses Microsoft’s $69 billion acquisition of gaming giant Activision Blizzard. It pointed to Hearthstone as a game ready for NFT integration through Immutable X and GameStop.
User Redditor said that Hearthstone’s player base dropped from a peak of about 23.5 million to 3.5 million, partly due to card collection costs and a lack of real ownership of the assets of Hearthstone. user This can be solved through integration with NFT.
“With the ability to create and trade NFTs freely on the Immutable X platform, it goes without saying that GameStop will be able to launch Hearthstone on their newest Web3 platform by simply generating an NFT for every card. It is then distributed based on the user’s existing card collection. which is very easy.”
GameStop (GME) shares surge after rumors of a partnership with Microsoft to work on NFT games appeared first on Bitcoin Addict.