After suffering a stock crash in early 2021, the American video game retailer GameStop managed to gain some ground with a new NFT division.
GameStop has been on the chopping block for quite some time due to its short-lived success that plummeted drastically in late January of 2021. With its new NFT division, the video game retailer has managed to increase its stock value by almost 30% in less than 24 hours.
In late December of 2021, GameStop quietly launched its initial NFT project with open creator applications. However, details about their digital assets exchange were not disclosed, and the project was not as widely discussed in the mainstream media.
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Based on the report by the Wall Street Journal, anonymous sources told reporters that GameStop will be coming out with an online platform, where users can trade video game-based NFTs from.
The same sources mentioned that GameStop will be partnering up with a couple of crypto platforms and hand-picked game devs, so they can list NFTs on their exchange. The actual NFT marketplace is said to be released in late 2022.
With that being said, the report was fully based on anonymous sources which caused credibility concerns on social media. The sources could have been based on tweets, posted a couple of hours before the WSJ article, by a user named @rockstar_stocks.
At the time of writing this article, GameStop shares are at $131.03, with an after-hour increase of 22.49%.
