Video game retailer GameStop could be preparing to enter the non-fungible token (NFT) space, based on recent company activity.
GameStop has been around for many years. However, it became more popular earlier this year after retail traders took an interest in the stock, sending its price to an unprecedented level.
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Since then, the company has undertaken several projects and has changed its strategy in the market with Ryan Cohen, the next president, who is serious about revitalizing the company’s image.
GameStop sets foot in NFT
Non-fungible tokens (NFTs) have also seen a surge in popularity over the past year. Financial experts have described it as the next big thing on Wall Street, as it continues to attract the interest of billionaires and the sports and entertainment industry.
On Tuesday, GameStop launched a new website with the domain name nft.GameStop, indicating the company’s interest in getting into NFTs.
The website featured an animation with the inscription “Power to the players. Power to creators. Power to collectors ».
GameStop is also employing a team of community leaders, marketers, players and engineers, according to its website.
It also featured an address that was linked to an Ethereum (ETH / USD) crypto wallet, and around 40 transactions have been executed against the address.
An excellent week and a remarkable entry
GameStop has been in the news lately after its price spiked as much as 37% due to increased interest from retailers. The NFT market has also grown, with the latest being the sale of Charlie Bit My Finger, a viral YouTube video, for $ 760,999. But the NFT lawsuit has stopped at this point. The number of daily sales has dropped to 20,000 tokens from a peak of 34,000. However, GameStop’s entry into the NFT market is likely to produce a positive outcome for the company and the NFT community.