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GameStop Will Launch an NFT division, Sources Say


bctd.news 07 January 2022 05:30, UTC
Reading time: ~2 m

The leading game retailer, GameStop is said to launch a division to release an NFT marketplace, and start collaborations with crypto companies.

Washington Street Journal reported the news on January 6, mentioning that the source was persons aware of the company's plans.

It was mentioned in the release that GameStop has hired 20 specialists to run the new division. Reportedly, the unit is working on an online platform for purchasing, selling, and trading NFTs that present video game items. The NFT marketplace will release later this year, and selected game publishers and developers will be welcome to post NFTs on the platform.

After the news was announced, shares of GameStop went up by over 30% in hours.

As per the WSJ report, GameStop is about to sign agreements with two crypto foundations. Due to the collaborations, they will develop technologies and invest in blockchain-based games, NFT tech, and NFT projects. In the future, GameStop intends to expand the number of collaborations to a dozen of crypto companies, or more.

While the community started active discussions about the news, there isn't an official announcement by GameStop that would unveil more details or confirm the plans.

GameStop showed interest in the NFT space before. In May, it launched the landing page for its NFT platform. In October, the company posted a job announcement, looking for a Head of Web3 Gaming.

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