GameStop Reports $76.9M in Proceeds As Result of Immutable Deal

Following the partnership with non-fungible token (NFT) scaling platform Immutable, video game retailer GameStop (GME) received a cash flow boost of $76.9 million from the sale of IMX tokens.

Nevertheless, reporting its quarterly results, GameStop recorded a negative cashflow for the quarter of $236.3 million.

Net sales were $1.378 billion for the quarter, compared to $1.277 billion in the prior year’s first quarter.

The GameStop earnings call took note of the ongoing development of its recently launched digital asset wallet, and the planned release of its NFT marketplace around summer 2022.

Speaking on the earnings call, CEO Matt Furlong confirmed that its wallet has seen “significant”downloads from the Chrome store. Commenting on the company’s future direction, he added:

 “We firmly believe that digital assets are core to the future of gaming.”