GameStop Plans NFT Marketplace for Q2 This Yearadmin
- GameStop revealed its plan to launch its NFT marketplace by the end of Q2 this year.
- The company noted that it had hired dozens of employees working on Web3 gaming.
- The company has had plans for its own NFT marketplace for nearly a year now.
Share this article
GameStop has published its Q4 and fiscal year 2021 results. In the report, the game company notified the public of its intention to launch its NFT marketplace by the end of Q2.
GameStop has announced its intention to launch its long-teased NFT marketplace sometime in the second quarter of this year.
In its fourth-quarter overview, the company highlighted the fact that it “hired dozens of additional individuals with experience in areas such as blockchain gaming, ecommerce and technology, product refurbishment and operations.”
Moreover, the firm emphasized its partnership with the Ethereum-based NFT scaling solution Immutable X, which would involve Immutable X facilitating the development of the NFT marketplace GameStop had in the works. As part of this deal, GameStop would receive as much as $150 million worth of IMX tokens. As of the following day, GameStop had sold nearly 15 million of the IMX tokens it had received as part of the partnership.
GameStop ended last year with $1.271 billion in cash and cash equivalents.
As far back as May of last year, GameStop had been taking steps towards its own non-fungible token marketplace. As was highlighted in its report, the company made many hires related to its marketplace for NFTs, including eight more job listings just last October. As of Dec. 28, GameStop was attempting to find NFT content creators.
At press time, shares of GME had rallied on the day, up over 7%.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies.
Share this article
What is a Crypto Airdrop: Why Projects Airdrop Crypto
Crypto airdrops occur when new tokens are freely distributed to different wallets in order to drive initial growth and build a community. They represent a popular marketing tactic that new projects use to spread…
GameStop to Build NFT Platform on Ethereum
GameStop is launching an NFT platform on Ethereum. The company is encouraging game developers and other industry experts to contribute. GameStop Joins NFT Craze GameStop is getting into NFTs. The…
GameStop Is Soliciting Applications From NFT Creators
GameStop is now seeking applications from NFT creators, as indicated by recent changes to the company’s website. GameStop Is Inviting NFT Minters GameStop’s NFT site is now headlined with the…
GameStop Dumps IMX Tokens Amid Partnership Announcement
GameStop has dumped almost 15 million IMX tokens it had received as part of a development deal with Immutable. IMX Floods Market Yesterday, Immutable, the developer of Ethereum Layer 2…
Leave a Reply