GameStop has been running as a business since 1984 and ever since they have been changing with the times. These changes have arrived tenfold over the past few decades with technological advancement in every aspect occurring omnipresently throughout the world. In recent times, the stock market has been on the public’s eye more than ever and cryptocurrency and NFT’s (Non-Fungible Tokens) have made their emergence. Companies have been having a keen interest in profiting from each segment and the games industry has seen a bloom in new games based around NFT’s. GameStop now has plans to create a new NFT and cryptocurrency marketplace and those plans are already in full development from what the company have revealed thus far.
At its core, NFT’s appear to be the big focus and in order to get a deeper understanding of what this means for the general public and furthermore the company. NFT’s must first be understood by readers who may not be too sure of what they actually are. Non-Fungible Tokens are known as unique pieces of ‘non-interchangeable’ units of data that are ultimately stored on a blockchain. These blockchains in an abstract sense are a database that holds information throughout computer network nodes. In an abstract sense, since the information stored on the blockchains are held in ‘blocks’ with the transaction information not being able to be deleted, altered, or otherwise damaged. It can be thought of as an extremely secure ledger safe, data flows in but nonetheless, that data is said to not be able to be deleted. An NFT can be bought by people who want to invest in a certain digital file that may be able to be reproduced such as images, audio, videos, and so forth.
Now with word that GameStop are wanting to create a cryptocurrency and NFT marketplace, it is a prospect that many avid consumers of NFT’s are looking forward to. Not just consumers, but even businesses will likely have their eye on the marketplace after GameStop’s massive surge in stock increases at points over the last few years. On the official website, ‘creators’ can already begin to sign up for the marketplace by filling out a form.
GameStop hired people to develop and launch the NFT marketplace when ready and ultimately, the company is said to even have plans of creating ‘cryptocurrency’ deals with other game studios and their respective publishers. The question remains of how many people will be interested in the marketplace and how long NFT’s will actually be of public interest. There are varying opinions throughout the world on both cryptocurrency and NFT’s, henceforth GameStop is making a bold move in creating the marketplace for gamers and consumers as a whole.
Whether you are personally interested in cryptocurrency and NFT’s or not, one thing is for certain, GameStop most definitely is and it will be interesting to see how this marketplace develops over the following years.