GameStop explores NFT marketplace for videogames

The Wall Street Journal has it on good authority that GameStop has big plans to introduce its own NFT (non-fungible tokens) AND cryptocurrency marketplace for videogames by the end of this year. GameStop no doubt believes that the videogame business is ripe for an NFT market, considering growing shift in revenue toward digital goods and services.

This push into uncharted NFT territory is part of GameStop's ongoing efforts to stymie the losses that have hit it retail business in recent years. WSJ reports that the North American game retailer has created an internal division staffed by over 20 employees specifically to make this online platform a reality. GameStop is expected to enter discussions with "a dozen or more crypto companies" in invest in development of games that could leverage NFT and blockchain technologies.

To be sure, the retailer has already launched an NFT website where interested parties can apply to become a "creator" on its forthcoming NFT Marketplace, whatever form it may take.