Based on the rumour of Microsoft partnering with GameStop for an NFT game, the gaming company stocks up
The stock prices of the popular video game store chain GameStop has increased roughly by 13 percent within a day due to the rumours of the company being in a partnership with Microsoft to create an NFT game.
At the start of February, the video game company started with US 100 dollars a share, and on February 8, after the online circulation of the rumour, the stock price of the company rose up to US 115.60 dollars per stock. The partnership of GameStop is focused on a layer 2 Ethereum scaling which will enable them to develop their own NFT marketplace. As part of this new deal, GameStop is rolling out a US 100 million dollars grant in the form of IMX tokens for different tech developers and NFT content creators. The latest rumours that are circulating on Twitter and Reddit suggest that Microsoft and GameStop will partner up to release NFT integrations on already existing games, as well as develop new games.
Although the exact relationship between the three parties, namely Xbox, Microsoft and GameStop, is still unclear but based on the post where the director of Microsoft’s blockchain department Yorke Rhodes has tagged the three companies hinting at the role of Microsoft in the deal between GameStop and ImmutableX.