According to a report by WSJ GameStop is also joining the cryptocurrency craze.
The video game retailer’s stock rose following the announcement of an NFT marketplace in an attempt to develop partnerships with other companies in the cryptocurrency space. According to the report, more than 20 people have been hired to run this new business division. GameStop plans for its online marketplace to act as a hub for all sorts of purchasing and trading of NFTs, ranging from weapons to avatar outfits.
Of course, this plan means nothing without some sort of infrastructure. That’s where the partnerships come in. GameStop is asking video game publishers and developers to list NFTs on their marketplace after it launches at some point this year. The retailer is also reportedly on the verge of signing partnerships with two crypto companies. Assuming everything moves forward as planned, GameStop expects to enter an additional dozen or so agreements with crypto companies throughout the year.
GameStop’s investment in NFTs and cryptocurrencies may be its way of attempting to stay afloat. The retailer reported a
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