GameStop Is Getting Into NFTs And Cryptocurrency – Report

GameStop is reportedly getting into NFTs, joining the ever-growing list of video game-related businesses that have decided to take a stab at making non-fungible tokens and cryptocurrency part of their future plans.

According to the Wall Street Journal, GameStop hired more than 20 people in a new team dedicated to creating a marketplace platform “for buying, selling and trading NFTs of virtual video game goods.” This non-fungible storefront is planned to go live later this year and will host NFTs from select game developers and publishers.

WSJ also reported that GameStop is looking to invest in development of blockchain and NFT games and has almost finished signing partnerships with two crypto companies. GameStop is expected to pour “tens of millions of dollars” into such projects and is looking for more crypto companies to partner with.

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Author: Jenny Zheng