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Crypto News - Archive

GameStop NFT is Back in the Spotlight Thanks to a Collaboration With Illuvium

Author

Jay Solano

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Reading time

2 mins
Last update

Author

Jay Solano

Tags

Category

Crypto News - Archive

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

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GameStop NFT

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The company will release 20,000 tokens that can’t be traded for cash in its first collection.

On June 5, Ethereum blockchain game creator Illuvium announced a partnership with video game and consumer merchandise retailer GameStop to release a 20,000 nonfungible token (NFT) collection on June 12.

Developers say that the NFTs called “Illuvitars” 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.”

Each “GameStop x Illuvitar D1SK NFT” will come with a unique “Illuvitar” with the GameStop branding on it. The developers say there are “108 possible combinations based on six different Illuvials, three expressions, three background stages, and two finishes.” On the Illuvi decentralized exchange, you can trade D1SKs, which hold random Illuvitars and accessories. NFT holders can also play Illuvium’s creature-collecting games, Illuvium Overworld and Illuvium Arena, early and get other benefits.

In February 2022, GameStop chose Immutable X, an Ethereum layer-2 scaling solution, to power its NFT marketplace. But by August 2022, the bitcoin bear market was said to have caused GameStop NFT’s daily fee income to drop to just $4,000. 

The numbers were a big drop from the project’s first full day of business on July 13, 2022, when NFT sales totaled $1.98 million and fees added up to about $44,500. At the time of release, Buck Season II was the NFT collection with the most digital collectibles traded for $109,213 in the last 30 days.