GameStop NFT and Illuvium Partner Up for a New NFT Collection
- The NFT arm of video game retailer GameStop has partnered with Illuvium, an Ethereum blockchain game developer.
- The two will debut an NFT collection, with each “GameStop x Illuvitar D1SK NFT” containing a unique “Illuvitar.”
- The new NFT collection will debut on June 12 and will include 20,000 tokens, each with a different “power rating.”
- D1SKs will include random Illuvitars along with accessories that can be traded on the Illuvi decentralized exchange.
The non-fungible token industry has taken quite a hit post the 2021 crypto market bull run, with many pieces being down more than 70% from their all-time highs. Interestingly, the number of scam NFT projects also rose significantly in 2022, which was possibly one of the worst years for the crypto industry. Nevertheless, the NFT arm of the popular video game and consumer merchandise retailer GameStop has announced its partnership with Ethereum blockchain game developer Illuvium to release a collection of NFTs.
The new NFT collection will debut on June 12, as per the official announcement,and will include 20,000 tokens. The tokens have been named “Illuvitars,” and as per the developers, 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.”
It is important to note that each “GameStop x Illuvitar D1SK NFT” will include a unique GameStop-branded “Illuvitar,” which, as per the announcement, possesses “108 potential combinations based on six different Illuvials, three expressions, three background stages, and two finishes.” D1SKs will include random Illuvitars along with accessories that can be traded on the Illuvi decentralized exchange.
Furthermore, those who purchase the GameStop x Illuvitars D1SK NFTs will be given early access to the Ethereum game developer’s major collector games, Illuvium Overworld and Illuvium Arena, combined with other perks. On the other hand, the video game retailer also recently partnered with ImmutableX, a leading platform for building web3 games on Ethereum, the world’s second-largest blockchain.
GameStop debuted its NFT marketplace in mid-2022 and also announced plans to launch a stablecoin at that time. The goal was to allow gamers, creators, collectors, and other community members to buy, sell, and trade NFTs, introducing them to a whole new world of digital collections based on blockchain networks.
As reported earlier by BitcoinWisdom, GameStop also entered into a partnership deal with the now-bankrupt crypto exchange FTX in September 2022. While the financial terms of the deal were undisclosed, the partnership was intended to introduce the customers of the retailer to the services provided by the crypto exchange.
Despite partnering with several high-profile companies in the crypto space, FTX collapsed under the leadership of Sam Bankman-Fried, also known as SBF in the crypto industry. Interestingly, Daniel Friedberg, who served as a Chief Compliance Officer at FTX US, presented proof that FTX promotional activity commenced in Florida, which could change the direction of a class action lawsuit against celebrities who are accused of endorsing the now-bankrupt exchange.
Additionally, the US Department of Treasury and the IRS have filed a total of 45 claims worth $44 billion against the crypto exchange, and it owes around $20.4 billion in partnership and payroll taxes. An additional claim of $7.9 billion against Alameda Research was also mentioned by the IRS.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
