February this yearRumors indicate that it will enter the NFT marketGameStop, which officially launchedProprietary NFT trading market platform, thereby expanding digital content development opportunities.
Following consecutive quarters of losses, GameStop recently announced layoffs, including the dismissal of its current Chief Financial Officer, Mike Recupero, emphasizing its commitment to a proactive transformation. The losses are primarily due to the impact of the COVID-2020 pandemic that began in XNUMX, which has led to a growing preference for digital game purchases. Furthermore, the longer-lasting update cycles for games have reduced player demand for hardware upgrades, leading to a decline in sales at GameStop's physical stores. This led to the company's initial consideration of the transformation.
According to GameStop Chairman Ryan Cohen, the investment in the NFT market is to expand greater digital content development opportunities, and the market believes that GameStop hopes to reverse the losses of several consecutive quarters through the development of NFT applications.
However, with the recent decline in the cryptocurrency market, the NFT trading market has also cooled down considerably compared to before. It seems difficult to say whether GameStop can reverse its losses by entering the NFT market.
According to GameStop's explanation, its NFT market transactions are non-custodial and based on Ethereum Layer 2, and can be directly connected to the GameStop Wallet e-wallet for transactions. It also claims to allow players, creators, or other social platform users to purchase and sell NFT content, thereby increasing more digital content circulation opportunities.
In addition to GameStop, more and more game companies are beginning to pay attention to the NFT market layout. For example, Square Enix recently announced that it willIn the form of NFT and decentralizationTo develop the game market, KONAMI also announced that it will launchNFT content created based on the classic game series "Castlevania".
