GameStop back in spotlight after Illuvium partnership for NFT.
On June 5, 2023, Illuvium, a developer of blockchain games on the Ethereum network, announced a partnership with GameStop, a retailer of video games and consumer merchandise, to launch a collection of 20,000 non-fungible tokens (NFTs) starting on June 12. As explained by the developers:
The NFTs, called “Illuvitars,” are “dynamic collectible works of art that represent a specific avatar of an Illuvial with a distinct expression. Each Illuvitar has a power rating determined by its rarity, which helps you climb the leaderboard.”
Each “GameStop x Illuvitar D1SK NFT” will feature a unique GameStop-branded “Illuvitar”, which developers say has “108 potential combinations based on six different Illuvials, three expressions, three background stages, and two finishes.” D1SKs contain random Illuvitars and accessories and can be traded on the Illuvi decentralized exchange. NFT holders will also have early access to Illuvium’s creature collector games, Illuvium Overworld and Illuvium Arena, as well as other benefits.
Cointelegraph reported in February 2022 that GameStop had chosen the Ethereum layer-2 scaling solution Immutable X to power its NFT marketplace. However, by August 2022, the daily fee revenue of GameStop NFT had reportedly dropped to just $4,000 due to the ongoing cryptocurrency bear market.
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This represented a significant decline from the project’s first full day of business on July 13, 2022, when NFT sales volume was $1.98 million, generating about $44,500 in fees. As of publication, the NFT collection with the highest trading volume on GameStop NFT is Buck Season II, with $109,213 worth of digital collectibles traded within the last 30 days.
Get ready for a groundbreaking collaboration with @illuviumio for exclusive, branded D1SKs!⁰Stay tuned for sale details and exclusive opportunities to own a part of digital collecting history. https://t.co/85Cq2PZSgT pic.twitter.com/w9Flysaac6
— GameStopNFT (@GameStopNFT) June 5, 2023
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