The current stock price of GameStop, the popular video game store chain did surge quite roughly by 13% in a single day- amidst massive rumors. The rumors were circulated online regarding a partnership with Microsoft which would involve working on NFT gaming. At the time of publication, the video game store change was sitting at a pretty $115.60 as of market close on the 8th of February and has also held around that level in trading after hours according to data received from TradingView.
GameStop Stocks See A Huge Increase In Price
GameStop started February at around the region of $100 and has since then been pumping this month on the back of the partnership with GME’s NFT focused Layer-2 Ethereum scaling solution, Immutable X, to develop the upcoming marketplace of NFT. As a major part of this deal, the video game store chain has also been rolling out a $100 million grant program that denominated in IMX tokens for tech developers and NFT content creators. The recent rumors which were circulated through most of the channels such as Twitter and Reddit suggest that the video game store chain could definitely team up with Microsoft to launch integrations of NFT into existing games.
A Twitter user recently shared a photo that contained compiled screenshots of several tweets from Microsoft Execs and Immutable X- cryptically posting the meme regarding the major partnership with GameStop. The Director of the blockchain department of Microsoft also tagged GME, Microsoft, and Xbox in his tweet- potentially hinting that the tech giant may have a simple role to play.
It does appear that NFT and Web3 related announcements do seem to have quite a strong impact on the price of GameStop shares. Cointelegraph recently reported in the early part of January that the price of GME had increased by 26% after the NFT division was opened.
