In addition, both Immutable and GameStop will launch a $100 million grant program denominated in IMX tokens for NFT content creators and tech developers. Although GameStop will receive the rights to up to $150 million IMX tokens upon accomplishing certain business milestones. At the time of publication, the grant is only available to corporate entities and decentralized autonomous organizations developing video games, Web3, metaverse, IT services and digital brands. The month prior, GameStop entered the NFT space by announcing the hiring of over 20 new staff and teasing two upcoming partnerships with blockchain firms for NFT game development. On social media, users appeared less than pleased with the development, with @LouiePikmin2 writing : "Wow, you guys will really do anything to stay in business, including investing heavily into a fad." In context, GameStop had dropped over 70% since all-time highs last January, when it was the target of a Reddit-fueled short-squeeze.