Categories: Tech

GameStop launches its own NFT marketplace, during the crypto collapse

GameStop launched his own marketplace NFTa store to buy digital art and, in the future, focus on novelties such as gaming Web3 gaming. The fact that the public beta arrives right in the worst time for crypto assets the last year does not seem to worry the company, which is trying new paths in addition to the physical sale of video games.

GameStop launches its own NFT marketplace

The company has announced it with an official statement that wants to mark the beginning of a new era. GameStopknown for its chain of brick-and-mortar stores selling video games and gamer products, focuses on the crypto market. At a time when cryptocurrencies and Web3 assets are at their lowest for at least a year.

The platform allows you to create, sell and buy Non-Fungible Token. It currently includes a catalog of over 200 collectionsfor a total of at least 53 mia NFT. Digital art products that crypto enthusiasts are now used to. Inside you will find anthropomorphic monkeys and cats themed collections, for example.

All products that you can manage through the GameStop Wallet, recently announced, which allows you to store your assets in a single digital wallet. But you can also connect other wallets and services such as i WalletConnect e MetaMask. But in order to visit the marketplace, you need to register on the platform.

A business revolution

GameStop had announced its plans in the crypto world already in Februarywhen the value of the cryptocurrencies and NFT assets he was definitely taller. But for the company, this investment is intended to be a long-term revolution.

So much so that in the announcement of the public beta the company refers to future features, such as the possibility of opening up to Web3 gaming. So much so that in the homepage of the marketplace you will already find a teaser for the adoption of Immutable Xa platform based on Ethereum that some NFT games already use. And GameStop launched a program together with the Immutable X platform to support developers with $ 100 million.

Fans have long been asking GameStop to innovate, if it didn’t want to be just a stock, a “meme stock”To buy to demonstrate the fragility of the market. But if fans were expecting a Netflix-style relaunch, the company has instead decided to invest in the crypt marketor. Which, as they said, is not experiencing a golden moment.

But the same GameStop announced a few days ago that he had fired several staff members, including its CFO, perhaps with the aim of relaunching the stock market ahead of this NFT launch. We will see if the plan will work: several large companies (not just Meta) think that the NFT market can bind to the metaverse in a solid way, leading to the success of both. But economic decisions depend on several factors, including impossible to underestimate the will of customers: we will have to wait and see if the GameStop NFT marketplace is the desired success.

What do you think about it? Could this be the moment of redemption for GameStop and the crypto market? Let us know in the comments.

Published by
Walker Ronnie

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