News and Analytics

GameStop NFT Regains Prominence Through Collaboration with Illuvium
0

GameStop NFT Regains Prominence Through Collaboration with Illuvium

Jun 8, 2023

The collaboration will introduce a first collection of 20,000 nonfungible tokens.

On June 5th, Illuvium, a developer of blockchain games on the Ethereum network, made an announcement regarding their partnership with GameStop, a well-known retailer of video games and consumer merchandise. The collaboration aims to launch a collection of 20,000 non-fungible tokens (NFTs), scheduled to debut on June 12th.

The “Illuvitars” NFTs are “dynamic collectible works of art, representing a specific avatar of an Illuvial with a distinct expression. Each Illuvitar carries a power rating, determined by its rarity, which helps you climb the leaderboard.according to developers.

Each "GameStop x Illuvitar D1SK NFT" will feature an exclusive Illuvitar with GameStop branding, designed to have "108 potential combinations derived from six distinct Illuvials, three facial expressions, three background stages, and two finishes." D1SKs consist of randomly assigned Illuvitars and accessories, which can be traded on the decentralized exchange known as Illuvi. Moreover, holders of these non-fungible tokens (NFTs) will enjoy early access to Illuvium's creature collector games, namely Illuvium Overworld and Illuvium Arena, along with various additional benefits.

GameStop NFT

In February 2022, Cointelegraph reported that GameStop had chosen Immutable X, an Ethereum layer-2 scaling solution, to support its NFT marketplace. Unfortunately, by August 2022, the daily fee revenue generated by GameStop's NFT platform had plummeted to a mere $4,000 due to the persistent bear market in the cryptocurrency industry.

The numbers showed a notable decline compared to the initial complete day of operation for the project on July 13, 2022. On that day, the sales volume of NFTs reached $1.98 million, resulting in approximately $44,500 in fees. As of the current report, the most actively traded NFT collection on GameStop NFT is Buck Season II, which has seen a trading volume of $109,213 in digital collectibles over the last 30 days.

Comments

Latest analytics

Celestia: Revolution...

Celestia: Revolution in the World of Modular Blockchains

TON Wallets: a...

TON Wallets: a complete guide to use

Show more

Latest Dapp Articles

Show more

You may also like