GameStop is currently in the process of building an NFT marketplace and expanding its crypto partnerships. Following the announcement, the video game retail company’s stocks rapidly surged by more than 16%.
“GameStop is in a very unique position, because a lot of these NFT projects are starting to add gaming utility behind the NFTs themselves,”
NFT investor Adam Hollander told CNBC.
“GameStop is well positioned, in my opinion, to be able to capitalize on that they have hundreds of millions of people that play video games that least recognize GameStop as a credible brand.”
The GameStop marketplace will provide virtual video game products such as in-game character cosmetics and weapons. According to a WSJ report, the company has built a small but strong team of 20 blockchain specialists to create the marketplace.
The company is calling all NFT creators to join the NFT marketplace.
On the Flipside
- Gamestop quietly introduced its new project in May 2021, along with the GME token, though it doesn’t allow transactions yet.