GameStop is preparing for their upcoming NFT marketplace launch and has updated the website with an FAQ about how to apply to the Immutable X $100 Grant Fund Program. The companies are joining forces to provide some seed funding for the early NFT projects to be showcased on their new platform.
GameStop has created a new page for information on their $100M Grant Program with Immutable.— GMEdd.com (@GMEdd) April 29, 2022
The page clarified that IMX will be evaluating applicants and AAA studios/publishers looking to launch NFTs with their IP should apply now.https://t.co/FPNy41Fm1r pic.twitter.com/A0vzV0lCrd
Our friends over at GMEdd.com noticed the updated FAQ on GameStop's NFT marketplace website last night. Some interesting things about the new page include a more targeted description of who should apply that includes outreach for AAA video game studios and publishers. With Ubisoft and Square Enix making some statements in support of NFTs, they could be two companies eligible for a grant. That would certainly make the financial risk less of an issue for established gaming companies, but there is the obvious backlash from the ever-powerful "gamer discourse."
How to apply to the $100 million GameStop IMX Grant Program
Here's all of the important information from GameStop's NFT Marketplace FAQ:
How to apply?
We recommend that your application:
- Is clear and concise; bullet points are preferred
- Explicit about how your offering will benefit the GameStop/Immutable X NFT marketplace and community
- Includes meaningful statistics to support your growth
- Uses precise technical milestones and expected timelines
Who should apply?
We are empowering studios, developers, publishers and content creators with IMX Grants. The types of projects we’re supporting include:
- Metaverses attached to established brand partners and content creators
- Game developers with launched games and incredible traction
- AAA studios/publishers looking to launch NFTs with their IP
- Prominent content producers and artists launching their next collection
- eSports companies and leading players entering the space
- Leading brands open to exploring the NFT market
- Influencers and celebrities seeking to become ambassadors for our platform
- New technologies that may benefit our platform or ecosystem
The scope of the IMX Grants Program is dependent on the partner, and may include funding, feedback on delivered milestones, potential partner introductions, limited technical support, and/or marketing and design support.
Application: Immutable X will be evaluating the information you provide, with a particular emphasis on how this would benefit the platform and our communities. The clearer your information, the faster the review can be completed.
Application Review, Decision and Follow Up: Immutable X will review all applications on a rolling basis, determine if more information is required, and then potentially schedule an introductory call. An internal review process with team interviews will then occur with the review committee. Applicants will be notified via email of whether their proposal has been accepted or not. If a proposal is selected to receive a grant, the Immutable X team will follow-up to review specific details around timelines and payment schedules. After a grant has been awarded, the team will be in touch as needed regarding further support, and milestone check-ins.
Immutable X is a leading layer 2 Ethereum scaling solution that is coming soon to the GameStop NFT marketplace. Immutable X is bringing millions of world-class gaming assets to the GameStop NFT marketplace and offers 100% gas free and carbon neutral minting and trading to users! Apply for the grant today and give your players access to the future of gaming!
There is still no release date for the GameStop NFT Marketplace, but it is very clear that all partners are gearing up for a launch. The marketplace beta has been live for several weeks, and some shareholders are even already on the platform. It remains to be seen if the platform will launch ahead of the GME shareholder meeting, so keep it locked on Shacknews for all of the latest GameStop news as it breaks.
This article is only meant for educational purposes, and should not be taken as investment advice. Please consider your own investment time horizon, risk tolerance, and consult with a financial advisor before acting on this information.
At the time of this article, Shacknews primary shareholder Asif A. Khan, his family members, or his company Virtue LLC had the following positions:
Long GameStop via GME shares (partially-hedged with out-of-the-money put options)
Long GameStop via GME call options
Asif Khan posted a new article, How to apply to the GameStop (GME) NFT marketplace's $100 million IMX Grant Program
I can't stand NFTs. They're just so rife with grifters and a lack of any real use case. It's not something this industry needs.
That is a very fair criticism. I guess the nicer thing about this proposed marketplace is materially lower mint and gas fees, but that doesn’t change the fact that NFTs are a solution in search of a problem.
What’s a gas fee?
Gas fees are payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain.
The increasing financialization of the games industry is problematic. It's turning an industry based around product development into a realm of speculation.
Over-financialization is trying to get money from games for the sake of getting money; it doesn't make the industry more valuable to the customer or to the people making the games. There is an increased energy and environmental cost for NFT transactions. It's only beneficial for a small number of people who can afford to buy into the market and convince others that this pyramid scheme is something that they should "invest" in as well.
It is kinda symptomatic of the absurd amount of risk-taking in the broader financial markets. We are no doubt in a bubble and NFTs will likely be remembered similarly to tulips.
I also think the play to earn business model for games is especially problematic.
I'm nervous about what the cost of the bubble popping will be. It's gonna be all the folks at the bottom of the pyramid who get the short end of the stick. 😔
That’s always the way. It’s the shameful state of Late Nihilist Arby’s Stage Capitalism today…
What!? No one told me there was Arby’s in the bubble crash. Let’s get this started already.
Naw it'll hurt folks who are ignoring the pyramids too.
Then the guys are the top of the pyramid will get bailed out by the taxpayers when we learn they where all over "invested" in fake worthless digital currency. It'll be just like 2008. Free money flying to the folks who caused the collapse while regular people lose their livelihood.
I saw something almost interesting - a cigar company is selling an NFT. Not of a cigar, that’d be silly, but they’re making some ultra rare fuckoff expensive boxes of cigars and only the people who own the NFTs are allowed to buy them, you can buy like X per year if you own the NFT.
I’m not sure there’s anything you dan do there that can’t be done just as well or easier without NFTs, but it’s the closest thing to a decent usage of the concept I’ve seen yet.
I still think NFTs are dumb don’t get me wrong, this one is just maybe marginally less dumb than, say, a JPEG of a bored ape.
As you say, it's no different than a private club that only members can buy from.
Yeah. Literally paying for access.
Hmm, that is kind of interesting. No real difference from a private club except:
1. You can trade "membership" without the club being involved.
2. You can see who belongs to it publicly
3. It can increase (or decrease) in value as you hold it.
I suppose the cigar company can take a clip off the top each time it's transacted too.
Yeah, interesting idea. I suppose it applies to other industries.