GameStop stock up on rumors of Microsoft NFT game partnership

[Pagla]

The stock price of popular video game store chain GameStop (GME) surged roughly 13% in one day amid rumors circulating online regarding a partnership with Microsoft to work on NFT gaming.

At the time of writing, GME sits at $115.60 as of market close on Feb. 8 and has also held around that level in after-hours trading according to data from TradingView.

GME started February at around the $100 region and has been pumping this month on the back of GameStop’s partnership with NFT focused Layer-2 Ethereum scaling solution Immutable X to develop its upcoming NFT marketplace. As part of the deal, GameStop is also rolling out a $100 million grant program denominated in IMX tokens for NFT content creators and tech developers.

The latest rumors circulating via channels such as Reddit and Twitter suggest that GameStop may team up with Microsoft to launch NFT integrations into existing games, along with creating new NFT focused games.

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