Fascinating Tech | S1E11
GameStop launches NFT marketplace amid stark crypto winter
GameStop has surprisingly launched its NFT marketplace at a time when the crypto market has lost over US$2 trillion of its worth and just a few months after the popular US-based video game store fired its CFO and laid off several employees.
GameStop’s move has raised concerns from a number of people, with one person describing the initiative as “an OpenSea knockoff with generally worse artwork.” While only time will tell if the statement ages well, GameStop’s NFT marketplace did see some success on its debut, listing 10,000 NFTs in 12 hours and making over $45,000 within the first day.
Of course, GameStop’s current daily earnings from NFT transactions are just a starting point and they could rise or fall significantly as the new marketplace matures, but recent trends in the NFT market aren’t all that encouraging.
That said, the question at the back of everyone’s minds is: Could GameStop be a relatively major player in a rapidly shrinking market?
To keep up with the latest and most innovative projects in Southeast Asia, sign up for free here.
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
Support quality journalism and content.
You've reached your 2 free content limit for the month. Consuming good content is clearly your thing. Subscribe at just $0.17 per day to get unlimited access.
Fascinating Tech
Flying cars, self-cleaning cat litter boxes - this is the world of Fascinating Tech, a series that features the latest cutting-edge, and sometimes, bizarre tech of our time.
Already a subscriber? Log in.
Our subscriber community includes professionals from these companies:
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
