Crypto

GameStop is launching an OpenSea-like NFT marketplace for gamers

The company is creating a $100 million fund for the NFT platform.

by
Josiah Motley
February 3, 2022

Image: KnowTechie

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GameStop, the company that people both meme on and pump its stock, announced late last year that it was looking into Web3 tech and NFTs. Earlier this year, the company stated its plan to launch an entire crypto division.

Now, GameStop is working on a fund to help drive its expansion into cryptocurrency. According to The Verge, the fund is planned for “up to $100 million.” That money would be used to build out GameStop’s NFT marketplace, built on the Immutable X platform.

Immutable currently works with companies like TikTok, but also works with gaming companies and even has its own blockchain-based game, Gods Unchained.

https://twitter.com/Immutable/status/1489209166010847232

GameStop envisions a world for gamers to buy blockchain-based gaming items like powerful armor, weapons, skins, and more. Ironic, considering many gamers across the social sphere are pretty much against NFTs.

It’s fitting that GameStop doesn’t understand what gamers actually want. The company is known for its poor decisions, which has led the company to struggle to find its place among online retailers.

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