GameStop NFT back in the spotlight after partnership with Illuvium

On June 5, Ethereum blockchain game developer Illuvium announced a partnership with video game and consumer merchandise retailer GameStop to release a 20,000 nonfungible token (NFT) collection starting from June 12. The collection, called "Illuvitars," consists of dynamic collectible works of art that represent unique avatars of Illuvials with distinct expressions. Each Illuvitar carries a power rating based on its rarity, which can contribute to climbing the leaderboard.

The "GameStop x Illuvitar D1SK NFTs" will feature GameStop-branded Illuvitars with 108 potential combinations based on six different Illuvials, three expressions, three background stages, and two finishes. The D1SK NFTs contain random Illuvitars and accessories and can be traded on the Illuvi decentralized exchange. NFT holders will also receive early access to Illuvium's creature collector games, Illuvium Overworld and Illuvium Arena, as well as other perks.

In February 2022, GameStop had selected the Ethereum layer-2 scaling solution Immutable X to power its NFT marketplace. However, due to the ongoing cryptocurrency bear market, the daily fee revenue of GameStop NFT reportedly dropped to $4,000 by August 2022. This was a significant decrease from the project's initial full day of business in July 2022, which saw NFT sales volume of $1.98 million, equivalent to approximately $44,500 in fees. As of now, 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 past 30 days.

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