The fact that classic retail is struggling is well known. The digital sphere is increasingly overtaking the traditional store, offering unprecedented ease of access. Some are shutting down while others are saddling up. GameStop has by now tried its hand at everything from retro games to used phones, and now it's launching its latest venture; a marketplace for NFTs where users will be able to buy and sell their crypto creations.
In a press release, GameStop writes.
GRAPEVINE, Texas--(BUSINESS WIRE)--GameStop Corp. (NYSE: GME) ("GameStop" or the "Company") today announced that it has launched its non-fungible token ("NFT") marketplace to allow gamers, creators, collectors and other community members to buy, sell and trade NFTs. The Company's NFT marketplace is a non-custodial, Ethereum Layer 2-based marketplace that enables parties to truly own their digital assets, which are represented and secured on the blockchain. The marketplace, which can be accessed at GameStop allows parties to connect to their own digital asset wallets such as the recently launched GameStop Wallet. Over time, the marketplace will expand functionality to encompass additional categories such as Web3 gaming, more creators and other Ethereum environments.
But with the current crypto state, is the launch of an NFT platform particularly smart? Time will tell. What do you think about GameStop's future?