GameStop Launches NFT Marketplace Amid Crypto Crash
— Crypto, Opensea, Launches, Offers, Million, Marketplace, Nfts, Company, Crash, Blockchain — 1 min read
GameStop launches its own NFT marketplace for nonfungible tokens. NFTs are tokens minted from a blockchain that certify ownership of a digital asset. GameStop's business has struggled over the past decade as people increasingly buy games online. The NFT market was last year worth $25 billion, but the recent crypto crash has dashed enthusiasm for all things blockchain. In addition to its newly-launched marketplace, GameStop also offers its own cryptowallet. The retailer has offered a $100 million grant to developers that use NFT tokens to develop Web3 games that use the tokens, which are non-game-related. It comes at a tumultuous time for GameStop, which fired its Chief Financial Officer amid wider layoffs. Source