GameStop has just hired a team of 20 people to develop its non-fungible tokens platform (NFTs). The company remains discreet about this initiative and has not given a precise date for its launch.
GameStop is moving forward with its NFTs platform project
In an article relayed by the Wall Street Journal, we learn that the company GameStop has recruited 20 people to create a platform of non-fungible tokens (NFTs).
The objective of the company is obviously to allow its future users to buy, sell and exchange NFTs based on video game items. This includes, for example, clothing and weapons for avatars.
This announcement has given GameStop (GME) stock a certain boost. Indeed, after the publication of the Wall Street Journal article, the share price jumped by almost 30% to reach $170.
In addition to the creation of a division dedicated to NFTs, GameStop is currently in talks with cryptocurrency companies to develop a blockchain game using NFTs.
Nevertheless, the company remains discreet about the progress of the development of its platform. In this sense, it is interesting to note that this initiative started in May 2021.
At that time, GameStop had just become known through the WallStreetBets case. Since then, the latter seems to be keen on tackling the blockchain domain.
Also, it appears that the launch of the platform would be for this new year, but no information has been confirmed by the company.
A continuing craze for NFTs
This sector has been a huge success during the year 2021. In fact, the volume of NFTs has exploded by +43,000% in one year. Thus, it is not surprising to understand the creation of this kind of platform from GameStop.
Moreover, it is quite possible that NFTs will be put forward again in this new year. Recently, the world’s largest NFTs platform OpenSea completed a new funding round that brings its valuation to $13.3 billion.
Finally, Coinbase’s report supported this enthusiasm for non-fungible tokens, stating that brands will increasingly move into this area.
