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Video-game retailer GameStop’s non-fungible token (NFT) marketplace has recorded an impressive first week.
The over 5,000 ETH ($7.2 million) in trading volume since its launch on July 11 is already more than double of competitor Coinbase’s all-time NFT volume.
Notably, on opening day, the marketplace reached a trading volume of 1,831 ETH ($2.7 million). However, daily sales started to slow down since.
GameStop’s success for a large part came from 1,200 ETH ($1.7 million) in sales from the MetaBoy project, the top collection one the NFT marketplace. Its loyal following and positive trend on Twitter since the NFT market was announced, all contributed to an excellent first week in which it quickly outperformed crypto exchange Coinbase’s NFT platform which in the over two months since public launch on May 4, only generated 1,913 ETH ($2.8 million) in volume.
Coinbase NFT has never really looked good since its beta test and consequently the company’s recent redundancies can be attributed to this disappointment.
Since the launch of its marketplace, GameStop shares have been up 15%.