Gaming

GameStop Reported To Launch Crypto And NFT Division

A customer exits the GameStop retail store.

From games to NFT.
Photo: John Smith / VIEWpress (Getty Images)

These are not only game companies such as Enix Square and Yubisoft which are included in the NFT. GToy retailer GameStop is reportedly doing the same. In accordance with Wall Street Magazine, a Texas-based company launches its own crypto division, with plans to create an online NFT marketplace and enter cryptocurrency cooperation.

Kotaku contacted GameStop for comment but received no response prior to posting.

The report says GameStop has recruited twenty new employees to develop a new online marketplace. where people can buy, sell and trade NFTs and virtual in-game items. Sources say WSJ that the marketplace should be launched at the end of 2022, and that gaming companies are being asked to offer their NFTs through this new online hub. This new marketplace appears to be competing with OpenSea, the NFT marketplace that now has valuation $ 13.3 billion

Not all of those sale of games just as passionate about embrace the trend of crypto and NFT. For example, Value’s Steam platform has already banned games using cryptocurrency. and NFC.

WSJ adds that GameStop is also preparing to partner with two cryptocurrency companies. The deals will also allow the game retailer to better invest in crypto games. Sources say that this year alone GameStop expects to enter into a dozen or more partnerships and invest tens of millions of dollars.

Previously GameStop launched NFT website with the slogan, Change the game.

GameStop’s business model has been hit hard by the rise in digital downloads. Revenues are falling, shops are closing. But the stock market seemed to like the idea of ​​GameStop getting into the cryptocurrency business. Reuters reports that its shares were up 27 percent on Thursday. The stock, CNBC notes, is still 59 percent below its peak in January 2021, which GameStop suddenly turned into Meme drain fiascoleading to Department of Justice investigation




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