gamestop corp: GameStop shares its plan to enter the NFT and crypto markets
GameStop declined to comment.
The Wall Street Journal first reported the news, citing people familiar with the matter.
The video game retailer is in the process of being overhauled, with Chairman Ryan Cohen calling on executives from companies like Amazon.com Inc to turn GameStop away from brick and mortar to e-commerce.
The company is asking certain game developers and publishers to list NFTs in its market when it launches later this year, according to the WSJ report.
An NFT is a digital asset that exists on a blockchain, a record of transactions kept on networked computers. The blockchain serves as a public ledger, allowing anyone to verify the authenticity of the NFT and who it belongs to.
The retailer has hired more than 20 people to manage the unit that is building an online hub to buy, sell and trade NFTs of virtual video game collectibles such as avatar outfits and weapons, according to the report. of the WSJ.
GameStop launched its NFT website last year and invited creators to join the platform.
The company was also at the forefront of the “memes” trading frenzy last year, in which retail investors touted the stocks on the Reddit news site and the Robinhood brokerage site, a. A blow to several hedge funds that bet stocks would fall.
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