The NFT market collapses but GameStop doesn’t give up

GameStop punta sugli NFT thumbnail

Il market of NFT is abruptly collapsing but it seems that a GameStop this does not interest you. Let’s find out all the details together.

GameStop throws itself into NFTs just as the market collapses

Last week the site my box spoke of the crisis he is going through now on NFT market. In its analysis, the site cites the decline in the 92% of sales and the extraordinary decline of “Active portfolios” dell’88% since November. However, despite this abrupt collapse, GameStop chose not to give up.

In fact, the company has recently officially unveiled its new market: the GameStop NFT. Below we report the official statement of the company.

What the internet has done for communication, blockchains do for value. Now, global communities can connect, coordinate and transact like never before.

Public, permissionless, credibly neutral layers of value -> Power to the players.

GameStop talked about this topic in early February, without, however, providing further details. Recently, during a call with shareholders, those famous details came to light and the company confirmed that its NFT market will debut. by the end of the second quarter of fiscal 2022which falls to July.

It is worth noting that the company has hired dozens of employees with experience in the blockchain gaming industryfrom the product restructuringdell’e-commerce and of technology and operations. Additionally, to get the marketplace and NFT plans off the ground, GameStop has also partnered with Immutable Xan Australian games company.

To keep prices low, the duo created a fund of 100 million dollars for NFT and Immutable X players promised that there will be no charges for the minting and exchange of NFTs. In addition, GameStop will receive $ 150 million in IMX tokens if certain milestones will be achieved. It therefore seems that the company really believes in it.

Is this a risky move or what does it take to turn the market upside down? We will only find out in the next months.