Announced last SeptemberEntering the NFT marketAfter that, GameStop announced that it would end this development after just one year due to the uncertainty surrounding the current regulatory approach to cryptocurrencies.
The GameStop Wallet e-wallet is expected to cease operations on November 11 this year, and the extension functions on iOS and Chrome browser will also be unavailable from November 1.
GameStop also calls on users to confirm the NFT status of their wallets before October 10 this year and transfer them to other compatible electronic wallets before the service is officially shut down.
Prior to this, GameStop expected to expand its opportunities in digital content development by developing the NFT market. Its NFT market transactions are non-custodial and based on Ethereum Layer 2. It can be directly connected to the GameStop Wallet e-wallet for transactions, and it claims to allow players, creators, or other social platform users to purchase and sell NFT content.
However, it is obvious that most consumer markets are not very interested in NFTs and cryptocurrencies. In addition, there is still no clear view on the regulatory methods for cryptocurrencies in the United States. In addition, GameStop's previous cooperation with the cryptocurrency exchange FTX was later affected by its bankruptcy, which greatly impacted its layout in the cryptocurrency market. It then announced layoffs in December last year, which led to the announcement of the end of cryptocurrency development.
