Immutable X and Microsoft executives teased that the software giant may team up with GameStop for an NFT game project. There has been no official word on the project, but communication between higher-ups at the two companies suggests it is going to be big.
The rumors of a Microsoft partnership caused GameStop’s stock (GME) to surge 13% in a single day. GME began February around $100 and currently sits at $120.50 at the time of writing (Feb. 9).
The excitement all began when Yorke Rhodes III, director of Microsoft’s blockchain department, tagged Xbox, Microsoft and GameStop in a tweet. Rhodes’ post was captioned “must be nothing.” Blockchain developer Immutable replied from their account, saying “Thanks, director of blockchain @Microsoft. Probably nothing.” Twitter user @P_MackD compiled the extended conversation into a single tweet.
Rhode’s message was in reply to a Blockworks tweet about GameStop and Immutable working together on an NFT project. On February 3, GameStop announced they were developing an NFT marketplace in partnership with Immutable.
“[W]hat we’re doing for GameStop is we are the back end of their marketplace, which means that we’ll be running all of their trades on top of our software,” Ferguson says. “We’ll be creating their NFTs, and we will be helping to onboard hundreds or thousands of game studios. They’ll be using our $100 million joint fund to come and build on this technology platform. We, obviously, work with lots of marketplaces, but GameStop is going to be a major, major entrant to this space.”
If this ambitious vision at all extends to a possible partnership with Microsoft, huge things could be on the way.