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Friday, February 10, 2023
HomeTipsGameStop’s NFT market has arrived simply in time for a crypto market...

GameStop’s NFT market has arrived simply in time for a crypto market crash


GameStop is seemingly ignoring that entire ”crypto winter” factor and transferring forward with the launch of its personal NFT market, which is now open in what the corporate calls a “public beta.”

Right now, you should utilize the platform to purchase, promote, and create NFTs. There are greater than 200 collections you possibly can peruse and greater than 53,000 NFTs listed on {the marketplace}. The artwork I’ve seen appears to be fairly customary NFT fare — in just some minutes of perusing, I’ve already noticed some some bizarre cat and monkey-themed collections, for instance. Unsurprisingly, you possibly can join the newly-launched GameStop Wallet to handle your digital belongings, although you may as well use choices like WalletJoin and MetaMask. And not simply anybody can create an NFT on the platform — creators might want to apply.

GameStop has greater plans for {the marketplace} down the road, saying in a press launch that it plans to “expand functionality” into areas like Web3 gaming. On the NFT market homepage, GameStop is already teasing that help for Immutable X, a platform constructed on Ethereum that’s utilized by some NFT video games, is coming quickly. GameStop and Immutable X have additionally launched a $100 million grant program.

GameStop is surging forward

The gaming retailer first introduced in February that it deliberate to open its personal NFT market, however over the previous a number of weeks, gross sales of NFTs have fallen amid an even bigger downturn in crypto total. Crypto firms like Coinbase, BlockFi, and Crypto.com have needed to lay off employees in an try to climate the storm, however GameStop is surging ahead with its plans, regardless of its personal troubles. GameStop is opening its NFT market simply days after shedding employees and firing its CFO, and crypto efforts appear as in the event that they’re an necessary a part of the corporate’s future; in a memo to staff concerning the layoffs, CEO Matt Furlong talked about GameStop’s blockchain group within the very first sentence.


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