GameStop Seeks to Regain Relevance With NFT Marketplace
Gaming has emerged as one of the hottest use cases for non-fungible tokens (NFTs). Now traditional video game company GameStop is catching the blockchain wave with intentions to develop its own NFT marketplace, according to The Wall Street Journal.
GameStop also wants to ink partnerships with cryptocurrency industry players. Its new NFT platform is expected to see the light of day later this year.
While a trend has already emerged in which corporate America is dipping its toe into the non-fungible waters, GameStop appears to be diving in headfirst.
Building an NFT marketplace will pit the Grapevine, Texas-based company up against the likes of industry leaders OpenSea and Coinbase, which are currently the go-to platforms for all things NFT.
While it may seem that GameStop's push into one of the hottest segments in the blockchain industry is a no-brainer, the retailer's digital transformation has been a work in progress.
Changing its business model from brick-and-mortar stores to one that more closely resembles a tech company has not been quick, nor has it been easy.
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