GameStop’s NFT marketplace is officially live on the blockchain platform ImmutableX and $IMX trading rewards have come to the GameStop NFT marketplace.
The new Trading Rewards program enables users to earn IMX tokens while they trade. Players can change eligible NFTs on GameStop and receive IMX tokens. Immutable is giving away up to 100,000 IMX tokens daily, and everyone is eligible to participate.
Immutable X is a leading platform for launching Web3 games and digital trading assets.
The $IMX Trading Rewards Spotlight with @GameStopNFT Marketplace is now live!
Trade NFTs on https://t.co/Dx2zLZsNLB and earn $IMX pic.twitter.com/yj6c92PBNH
— Immutable 🅧 – $IMX (@Immutable) November 2, 2022
The Gamestop Spotlight
The GameStop Spotlight runs from Nov 2nd to Nov 16th – Here’s how it works:
Have a registered wallet on Immutable X on GameStop:
Each day you trade (buy or sell NFTs), USD 10 or more of an Eligible Collection on the GameStop marketplace will result in IMX tokens delivered to your wallet.
a. During the GameStop Spotlight, only trades on the GameStop marketplace will count toward eligibility.
b. Trades on any other marketplace will not be eligible for rewards.
c. The eligible Collections list is determined by assessing the quality of the NFTs, community engagement, royalty fee, and other relevant criteria.
At the end of each day, you’ll be rewarded IMX tokens based on the proportion of your eligible trading volume to the total eligible trading volume on GameStop:
a. Eligible Trading Volume = Buy amount + Sell amount + Fees.
b.For example: On a given day, if there is $1.8M in eligible trading volume on GameStop and your eligible trading volume is $18,000 (1% of eligible volume), you would receive 1% of the IMX tokens rewarded on that day.
The daily amount of IMX tokens distributed will depend on GameStop’s total transaction volume (buy volume + fees) that day. Here’s how the rewards will scale linearly during the GameStop Spotlight:
a. If the total transaction volume on GameStop is less than USD 1,000,000, 800 IMX tokens ]for every USD 10,000 in transactions will be the reward.
b. After reaching the $1,000,000 TTV threshold, 66 additional IMX tokens will be the reward for every $10,000 increase in TTV.
c. A maximum of 100,000 reward IMX tokens every single day
d. The total transaction volume on GameStop is shown on the Trading Rewards Dashboard.
e. For example: On a given day, if $1.8M in total is transacted on GameStop (buy volume + fees), 85,280 IMX tokens will be rewarded.
While the platform calculates token rewards daily, your daily earnings will be distributed each week cumulatively by Friday UTC’s end of the day.
The Immutable X And Gamestop Partnership
The GameStop NFT platform has been operating as a public beta since July. The official launch will allow marketplace users to access Web3 games, including Gods Unchained, Guild of Guardians, and Illuvium, as well as additional NFT gaming assets.
According to its developers, the layer two scaling product can facilitate “100% gas-free and carbon-neutral minting and trading”. Now on the GameStop NFT marketplace, it’s an attractive solution for players new to Web3 gaming.
Partner Spotlight is a select edition of Trading Rewards and will create further excitement in the community. Partners are vital to the Immutable X Web3 ecosystem, from games to marketplaces.
The platform inspires its community with some great partners building on Immutable X. The exact working and criteria from the Trading Rewards program still apply, but specific partners will also feature for a time.
Trading on partners counts more towards a user’s Trading Rewards eligibility than trading elsewhere. For instance, a 2x multiplier applies to transactions on a feature marketplace (a $10 trade will show as $20 in a rewards calculation).
Players can earn more $IMX Trading Rewards daily, and partners will be featured for a limited time (one week at a time), and then they will remove the multiplier. While the multiplier increases eligibility for rewards, daily Trading Rewards tiers will still correlate to the total transaction volume.
This is an exciting time for Immutable X as it gathers more partners and incredible rewards for its users. Illuvium joined the fun by putting the NFTs from their recent land sale directly onto the Immutable platform. Furthermore, Ember Sword is in the process of encouraging their landowners to migrate over as well. With this recent partnership with Gamestop and trading partners trading NFTs in the marketplace, it’s an exciting time for the IMX community.