The big news about GameStop partnering with Immutable X, in addition to using Loopring protocols, is well-disseminated now. This 3D immersive marketplace, which will be announced this year, alone may be worth $10 Billion and could surpass OpenSea’s NFT marketplace which is valued as such. It is reasonable to assume that GameStop’s NFT arm alone would be worth similarly.
[As a side note, from what I have studied, the reason that Loopring was not chosen as the NFT partner, was because of Loopring’s ties with China – a concept that the board was critical of. Immutable X is Australian and it should be noted that the CEO of GameStop, Mr. Furlong, was Amazon’s lead in Australia. Yet, GameStop’s head of blockchain did co-write the loopring white paper. So, Gamestop has used, coded, learned, and already implemented what they need from the Loopring end. Now, Gamestop brings a team of knowledge and jumps forward with immutable X to make the most powerful NFT Marketplace ever.]
This report shows that the Immutable X deal with GameStop is worth more than $100 Million. The valuation of that deal was at IMX’s low price around $2.00. Gamestop sold IMX into the PR-induced spike in IMX assets when the token was $4.00. This means that GameStop will continue to receive cash-on-hand (adding to their $1.5 Billion war chest) far in excess of the terms of the agreement. GameStop is smart to ‘day trade’ these spikes. If GameStop continues to do this, then assuming IMX jumps to $20 per token which is close to its all-time-high, then the deal is essentially a $1 Billion grant… not $100 million. It can be assumed that the demand for Immutable X Tokens (IMX) will continue to grow, and we clearly discussed evidence that GameStop is already doing this.