GameStop to Launch an NFTs Marketplace
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7 January

Popular US console and computer game retailer GameStop has just hired more than 20 people for a new division that will focus on developing a marketplace for NFTs, The Wall Street Journal has reported citing sources.

According to them, the company intends to develop a platform that will allow users to buy, sell and trade non-fungible tokens based on in-game items. The marketplace is expected to launch by the end of 2022.

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According to the publication, GameStop's initiative aims to "improve overall financial performance in light of the impact of the COVID-19 pandemic on its retail outlets."

The WSJ has also said the retailer is in negotiations with two crypto companies "to leverage their technology and jointly invest in blockchain games and NFTs."

It is worth noting the company's shares have registered a 20% increase after the news was released.

In January 2021, the value of GameStop's shares on the New York Stock Exchange soared to $347.

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