GameStop stock up on rumors of Microsoft NFT game partnership
The stock price of popular video game store chain GameStop (GME) surged roughly 13% in one day amid rumors circulating online regarding a partnership with Microsoft to work on NFT gaming.
At the time of writing, GME sits at $115.60 as of market close on Feb. 8 and has also held around that level in after-hours trading according to data from TradingView.
GME started February at around the $100 region and has been pumping this month on the back of GameStop’s partnership with NFT focused Layer-2 Ethereum scaling solution Immutable X to develop its upcoming NFT marketplace. As part of the deal, GameStop is also rolling out a $100 million grant program denominated in IMX tokens for NFT content creators and tech developers.
The latest rumors circulating via channels such as Reddit and Twitter suggest that GameStop may team up with Microsoft to launch NFT integrations into existing games, along with creating new NFT focused games.
Microsoft partnering with GameStop for #NFT and #Metaverse ?? big companies behind the curve will scoop up the existing industry leaders that have been building the space already.
Twitter user “P_MackD” shared a photo earlier today that contained compiled screenshots of tweets from Immutable X and Microsoft execs cryptically posting the “probably nothing” meme regarding the major partnership with GameStop.
Yorke Rhodes III in particular, the director of Microsoft’s blockchain department tagged Xbox, Microsoft and GameStop in his tweet, potentially hinting that the tech giant may have a role to play in the Immutable X and GameStop partnership behind the scenes.
Best graphic I've seen about all this nothingness so passing it on. Probably nothing though...#GameStop #gme #Microsoft #must#immutableX
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