GameStop (GME), the notorious video gaming firm that received a brand new lease of life in 2021, all due to Reddit and retail patrons has revealed its NFT plans. As per the report printed in Bloomberg, GameStop is planning to go from being well-known for its brick-and-mortar retailer to a completely digital platform. The agency is reportedly in talks with a number of blockchains and crypto corporations to grasp the demand out there.
GameStop plans to arrange a number of funds every of as much as $100 million that will be invested in Artists, content material creators, and sport studios. The truth that play-to-earn (P2E) video games are at the moment the largest craze within the NFT ecosystem, GME can doubtlessly tackle the P2E market with its huge gaming expertise.
Whereas NFTs first got here into existence in 2012 itself, they received the mandatory traction within the 2019-20 part when sports activities leagues began to make use of them as fan tokens. Nevertheless, 2021 turned the market on its head because it received as fashionable because the Defi market and regardless of the rising variety of scams hinting at a possible market prime, the NFT ecosystem continues to develop with mainstream gamers.
GameStop can construct its personal gaming metaverse
The NFT craze added with the Metaverse theme affords a large market alternative for brand spanking new entrants and Gamestop may doubtlessly take the initiative to construct its personal gaming metaverse. Fb, the biggest social media platform with over $2 billion clients lately rebranded itself to Meta to make its Metaverse plans clear. Equally, GME with doubtlessly tons of of tens of millions of {dollars} at their disposal can develop their very own gaming metaverse.
NFTs’ recognition can and potential might be understood from the success of OpenSea, an NFT market constructed on prime of the Ethereum community. OpenSea lately closed a $300 million funding spherical giving it a valuation of over $13 billion. The NFT market grew to become a multi-billion greenback firm inside a yr.
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