American video game retailer GameStop has teamed up with Immutable, a blockchain firm, for its NFT marketplace.

The platform — which is based on Immutable X, a scaling layer solution for Ethereum — will also be supported by a $100 million development fund for NFT creators.

While it's unclear what projects are eligible for funding, game developers and digital artists can already submit their applications on the official website of the marketplace.

To The Moon earlier reported that the Texas-based game retailer might also launch its own token, GME, on the Ethereum network as a dedicated smart contract was spotted on the website.

Read also: Square Enix to Release 'Decentralized Games' in 2022

In December 2021, Reddit co-founder Alexis Ohanian, Ethereum scaling solution Polygon and Seven Seven Six announced plans for a new $200 million initiative focused on projects developing “the future of social media and Web3.”

Ohanian wrote in a tweet that Web3 represents the whole future of the internet with the initiative to support not only social media but also games.