According to sources Wall street journal, Gamestop, one of the largest video game stores in U.S, is on its way to enter the cryptocurrency market and NFT. It is reportedly working on a new division to enter this speculative market.
The sources told the Wall street journal that this company hired more than 20 people for this team specialized in cryptocurrencies and NFT, forecast the online buying and selling platform to launch by the end of the year.
In addition, they mention that GameStop is in discussions with selected game publishers and developers to sell NFT exclusively in your store, from simple avatar outfits, weapons and even collectibles.
In fact, they just launched a official website for people who are interested in applying their work to collaborate with Gamestop. Although the company has not denied or accepted what was mentioned by Wall street journal, Reuters notes that the price of its shares has risen 27% since its publication.
Gamestop seeks to save itself from bankruptcy with cryptocurrencies and NFTs
Gamestop has been losses year after year, a total sum of $ 105.4 million. This situation has forced it to transition to another type of market and change its sales approach, as is the case with cryptocurrencies and NFT.
Another important change in the company was the arrival of Matt Furlong, ex-executive of Amazo, who took over as CEO in June after the company garnered global attention when it became one of the first ‘meme investments’ from a group of investors from Reddit, with what each action reached a record of 380 dollars in January.
The event prompted an SEC investigation, but the Commission found no evidence of fraudulent behavior or market manipulation. All these changes have led the company to take an interest in cryptocurrencies and NFT.
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