• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

GameStop Turn To NFTs, Plans To Launch Marketplace Later In The Year

Anifowoshe Ibrahim by Anifowoshe Ibrahim
7 months ago
in Cryptocurrency news, NFT
Reading Time: 2 mins read
Advertisement

Video game retailer GameStop has entered the non-fungible token (NFT) space. According to the Wall Street Journal, it is forming a division to develop a marketplace for non-fungible tokens and form cryptocurrency partnerships with crypto firms.

GameStop To Build NFT Marketplace

According to the WSJ story, the company has employed more than 20 individuals to oversee the unit, which is developing an online hub for buying, selling, and trading NFTs of virtual videogame artifacts like avatar clothing and weaponry.

GameStop launched its NFT website last year and has been inviting creators to join the platform.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The company is also close to signing deals with two crypto startups to exchange technology and co-invest in the creation of blockchain and NFT-based games, as well as other NFT-related initiatives. According to the report, the store plans to get into similar deals with a dozen or more crypto startups this year and invest millions of dollars in them.

GameStop restructured its leadership team and board of directors last year, appointing activist investor Ryan Cohen as chairman.This has has pushed GameStop to become more tech-focused.

Related article | Only In Crypto: A Croissant Breaks Down How GameStop & NFTs Will Boost Ethereum

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

GME Price Rise In Response

Last January, GameStop’s stock skyrocketed after Reddit stock traders began buying the shares. The stock began trading at $18 in 2021 and reached a high of $483 a year later. Multiple congressional hearings and federal agency probes were held as a result of the unprecedented volatility.

The stock of GameStop ended at $131 on Thursday, but has already risen to $172 in after-hours trading.

gamestop

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.
GME trading at $163 post-market following the news. Source: TradingView

The news propelled GME shares substantially higher after hours in what appears to be yet another short squeeze, which will be great news to longs who had seen the stock price fall.

Some of the industry’s largest companies in the videogame business, including Ubisoft Entertainment, Zynga Inc., and Square Enix Holdings Co., have started or announced plans to sell NFTs in recent weeks. However, some industry leaders and players have expressed reservations about the value of NFTs and the motivations of their developers.

In light of the COVID-19 pandemic’s impact on GameStop’s physical storefronts, the WS Journal’s report presented the GameStop NFT strategy as one targeted at increasing the company’s overall financial performance.

Related article | Why was 2021 an important year for NFT?

Featured image from iStockPhoto, Charts from TradingView.com
Tags: gamestopNFTredditRobinhoodubisoft
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Anifowoshe Ibrahim

Anifowoshe Ibrahim

Related Posts

Bitcoin

Quant Explains How Bitcoin NUPL Cycles Are Getting Less Volatile With Time

2 hours ago
Here’s A List of Trusted Non-GamStop Casinos In The UK

Here’s A List of Trusted Non-GamStop Casinos In The UK

8 hours ago
Polkadot

Polkadot (DOT) To Retest $9.88 Resistance – Can Bulls Regain Solid Footing?

14 hours ago
Filecoin

Filecoin Cruises Near Resistance, Now Attempts For A Breakout

16 hours ago
Ethereum Market Observes Pileup Of Leverage As ETH Breaks $2k

Ethereum Market Observes Pileup Of Leverage As ETH Breaks $2k

1 day ago
Ethereum Price

Ethereum Sees Setback After Breaking $2k, But Price Likely to Maintain Upward Trajectory

1 day ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Keninah Concord And Fantom, Paired with Baby Doge Coin Will Give You a Well-Balanced Wallet!

August 14, 2022

Can Carlossy Caterpillar Achieve What Meme Coin Giants Dogecoin and Shiba Inu have?

August 14, 2022

To Take DeFi To The Next Level, We Need Killer App, says Ripple Executive. Can Youniverze Be The One?

August 14, 2022

GNOX (GNOX): Likely Top 50 Crypto Similar To EOS (EOS) And Sandbox (SAND) After Presale Sold-Out Quickly

August 14, 2022

Gnox (GNOX), Sandbox (SAND) and Decentraland (MANA): The Most Promising Investments in 2022

August 14, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.