Crypto News
| Published On Mar 18, 2022 7:32 am CET | By Peter Siu

GameStop Expects NFT Marketplace to Launch by End of July

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During the announcement of its fiscal fourth-quarter earnings, GameStop (GME) said that it plans to launch a non-fungible token (NFT) marketplace by the end of July, which it will do in partnership with ImmutableX.

Plans for an NFT marketplace were revealed back in January. The company then said the NFT marketplace will include “billions of low-cost, in-game assets that can easily be bought and sold.”

The firm also said that in the last fiscal quarter of the year it had brought dozens of people on board with experience in areas including blockchain gaming, e-commerce and technology.

On its earnings call, GameStop confirmed the long-term potential in the NFT market:

“We recognize that our special [connection] with gamers provides us a unique opportunity in the Web 3 and digital asset world.”

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With a quarterly revenue of $2.25 billion and a fourth-quarter loss of $1.94 per share versus estimates gains of $0.85, GameStop shares dropped about 10% in after hours trading on Thursday.

Peter Siu

Peter is a former poker-pro, turned crypto enthusiast with 8+ years’ experience in operational roles dealing with all online gaming verticals within large iGaming companies, including Flutter and Entain. Now an expert in the field of Sports Betting, Casino, iGaming, and Poker, he is our team leader and editor. When not working, Peter can be found in the gym or playing sports like football, tennis and more recently padel.

Tags: GameStopNFT