GameStop Plans NFT Marketplace for Q2 This Year

Key Takeaways

  • GameStop revealed its plan to launch its NFT market by the tip of Q2 this yr.
  • The corporate famous that it had employed dozens of workers engaged on Web3 gaming.
  • The corporate has had plans for its personal NFT market for almost a yr now.

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GameStop has printed its This autumn and financial yr 2021 outcomes. Within the report, the sport firm notified the general public of its intention to launch its NFT market by the tip of Q2.

GME NFTs

GameStop has introduced its intention to launch its long-teased NFT market someday within the second quarter of this yr. 

In its fourth-quarter overview, the corporate highlighted the truth that it “employed dozens of extra people with expertise in areas similar to blockchain gaming, ecommerce and expertise, product refurbishment and operations.” 

Furthermore, the agency emphasised its partnership with the Ethereum-based NFT scaling answer Immutable X, which might contain Immutable X facilitating the event of the NFT market GameStop had within the works. As a part of this deal, GameStop would obtain as a lot as $150 million price of IMX tokens. As of the next day, GameStop had offered almost 15 million of the IMX tokens it had obtained as a part of the partnership.

GameStop ended final yr with $1.271 billion in money and money equivalents. 

Way back to Could of final yr, GameStop had been taking steps in direction of its personal non-fungible token market. As was highlighted in its report, the corporate made many hires associated to its market for NFTs, together with eight extra job listings simply final October. As of Dec. 28, GameStop was making an attempt to search out NFT content material creators. 

At press time, shares of GME had rallied on the day, up over 7%. 

Disclosure: On the time of writing, the writer of this piece owned BTC, ETH, and a number of other different cryptocurrencies. 

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