Categories: Tech

The NFT market collapses but GameStop doesn’t give up

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 citing the decline of the 92% of sales and the extraordinary decline of “Active portfolios” dell’88% since November. However, despite the sharp collapse of the market, GameStop has chosen to officially unveil its new market: the GameStop NFT. Below is 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 spoke on this topic in early February, but did not provide further details. Recently, 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 year 2022, which falls in 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.

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.

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

Published by
Walker Ronnie

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