GameStop's latest release is part of its wider pivot into the digital asset space.
GameStop’s latest release is part of its wider pivot into the digital asset space.
American video game retailer GameStop announced the launch of its digital asset wallet. Following the development, shares of GameStop rose by more than 2% premarket on Monday to $98.02. It was currently trading at $95.66.GameStop’s new self-custodial Ethereum wallet will allow users to store, send, receive and use cryptocurrencies and non-fungible tokens across decentralized apps without having to leave their web browsers, the company said.
While, in all caps, the privacy policy mentions that the company will not access or store users’ private keys associated with their wallets and that they are solely responsible for their funds. The statement reads,The move follows GameStop’s weak financial results after reporting a net loss of $147.5 in the fourth quarter of 2021 as opposed to over $80 million profit registered in the same period the previous year.
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