GameStop (GME) shoots up 40% on WSJ article

The Wall Street Journal reported today that GameStop Corp. (GME) is launching a division to develop a marketplace for non-fungible tokens (NFT) and establish cryptocurrency partnerships, according to people familiar with its plans.

GameStop has hired more than 20 people to run this unit so far. People familiar with the matter have revealed that the unit is planning to build an online hub for buying, selling and trading NFTs of video game goods such as Avatar outfits and weapons. Recently the company also posted a new job posting looking out for ‘Head of Web3 gaming’ who would oversee NFT creators that will be building in-game components and entire games.

WSJ also reported that GameStop is very close in signing partnerships with two crypto companies to share technology and co-invest in games that use blockchain and NFT technologies. Sources also reveal that they are looking to partner with dozens of crypto companies in the future.

Late in December last year, GameStop had called for creators to start registering on their site to become a GameStop NFT creator.

The GameStop NFT application form includes a slew of questions for applicants, implying that GameStop will be pretty selective in the NFTs it issues.Questions asked in the GameStop NFT application form are –

  1. First up, What should we call you? Cool. Thanks for wanting to participate.
  2. What best describes you? Independent artist/creator/game dev/meme lord/Company/brand/game studio/IP holder.”Please provide a link to your website or tell us a bit about your organization
  3. Have you ever created an NFT before?
  4. Have you used an Ethereum Wallet before? Please link to an NFT project you have previously created.
  5. What do you have in mind for collaborating with the GameStop NFT marketplace? Please provide your email/ethereum address so we can get back to you. Awesome. Thank you. Leave any parting thoughts below, if you’d like.

GameStop is currently up more than 30% in the post market session.

Related Posts