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IMX price forecast after GameStop NFT marketplace goes live

By:
on Nov 1, 2022
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  • In the last 24 hours, the trading volume of IMX jumped by 10%.
  • However, within the last week, IMX experienced a price change of 24%.
  • The GameStop NFT marketplace launch might take this growth even further.

GameStop launched their non-fungible token (NFT) marketplace, which is now officially live and running on top of ImmutableX (IMX/USD).

Furthermore, GameStop’s NFT platform has been in operation in the form of a public beta since July. However, the official launch will have additional functions.

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ImmutableX is a Layer-2 scaling solution built on top of Ethereum (ETH/USD) and purpose-built for NFTs. 

The main goal is for users to benefit from instant trading and massive scalability while also enjoying zero gas fees for minting and trading NFTs. 

GameStop’s NFT marketplace launch as a catalyst for growth

In the latest crypto news, on October 31, 2022, GameStop’s NFT marketplace went live and now enables users of the marketplace to also access Web3 games, all of which are built on top of ImmutableX. 

This includes titles such as Gods Unchained, Guild of Guardians, and Illuvium.

Furthermore, the platform facilitates 1gas-free and carbon-neutral minting and trading of NFTs on the marketplace, which means that Web3 developers could see an appeal in building for it.

The two platforms have worked together on numerous initiatives, one being the launch of a $100 million grant for builders and creators of Web3, as well as the integration of ImmutableX into the marketplace’s wallet for easier management of assets. 

In February, we also covered how IMX jumped in value through the announcement of this partnership.

Should you buy ImmutableX (IMX)?

On November 1, 2022, ImmutableX (IMX) had a value of $0.586.

IMX/USD Chart by Tradingview.

The all-time high of ImmutableX (IMX) was on November 26, 2021, at a value of $9.52. Here we can see that at its all-time high, the token was trading $8.934 higher in value, or by 1,524%.

When we go over its 7-day performance, ImmutableX (IMX) had its low point at a value of $0.532789, while its high point was at a value of $0.663622. Here we can see an increase of $0.130833 or 24%.

Going over the 24-hour performance of the cryptocurrency, however, the low point of value was at $0.573887, while the high point was at $0.606539. Here we can see that the cryptocurrency increased in value by $0.032652 or by 6%.

With all of this in mind, buying IMX is a solid option, as it can reach a value of $0.7 by the end of November 2022.