During the announcement of its fiscal fourth-quarter earnings, GameStop (GME) said that it plans to launch a non-fungible token (NFT) marketplace by the end of July, which it will do in partnership with ImmutableX.
Plans for an NFT marketplace were revealed back in January. The company then said the NFT marketplace will include “billions of low-cost, in-game assets that can easily be bought and sold.”
The firm also said that in the last fiscal quarter of the year it had brought dozens of people on board with experience in areas including blockchain gaming, e-commerce and technology.
On its earnings call, GameStop confirmed the long-term potential in the NFT market:
“We recognize that our special [connection] with gamers provides us a unique opportunity in the Web 3 and digital asset world.”
With a quarterly revenue of $2.25 billion and a fourth-quarter loss of $1.94 per share versus estimates gains of $0.85, GameStop shares dropped about 10% in after hours trading on Thursday.
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Source: Igaming
