GameStop Opening NFT Marketplace
GameStop plans to join the growing list of companies looking to benefit from the rise of NFTs by opening their own NFT platform by the end of 2022.
By 
Daniel
WHEN IS GAMESTOP OPENING ITS NFT MARKETPLACE?
By opening their own by the end of the year, GameStop is looking to compete with OpenSea, the largest NFT, cryptocurrency collectibles, and rare digital items marketplace.
They announced the decision by revealing they are working with developers and publishers to list NFTs for their games.
GameStop has already made moves to form cryptocurrency partnerships and make their new marketplace a hub for everything video game-related, including in-game items, weapons, and cosmetics.
It should not come as a complete surprise that a company is looking to establish a gaming NFT marketplace, as OpenSea’s worth is thought to be in the region of $13 billion.
GameStop’s shares rose by 20% on the back of the announcement, and they hope to open it sometime in 2022.
ARE NFTS SAFE?
It follows after other companies, such as Epic Games, Konami, Sony, and Ubisoft, revealed their interest in moving into the NFT market.
Ubisoft recently announced its Quartz platform, a marketplace for buying, trading, and collecting unique digital items for Ubisoft games in-game.
Konami recently announced a Castlevania NFT auction in which they plan to sell Castelvania related videos, music, and artwork to the highest bidder.
The topic of NFTs has seen Steam move and ban and delist all games that contain NFTs, cryptocurrency, and blockchain items.
That decision by Steam saw Epic Games CEO Tim Sweeney tweet that although EPIC is yet to decide on using NFTs due to the potential for scams, they are keeping an eye on the way others use them.
Though many see the potential of unique digital items, there have been failed attempts due to community backlash.
GSC Game World, developers of S.T.A.L.K.E.R. 2: Heart of Chernobyl, only recently canceled NFT support in the game less than 24 hours after announcing that it was integrating the blockchain technology.
Some games, such as Dead by Daylight, have continued implementing NFTs despite their community’s reservations and overwhelmingly negative feedback.
The mixed feedback on NFTs is why many gaming companies, like Sony, hold back on saying whether they support or are against using the technology.
WHAT IS AN NFT?
A non-fungible token (NFT) is a non-replaceable digital collectible item that can include GIFs, videos, tweets, texts, artwork, and music.
An NFT is unique and only owned by one person, which can be very desirable and lucrative for collectors.
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Fueled by a passion for gaming and the ever-evolving world of gaming news, Daniel loves connecting with seasoned and new players to bring games to life on the page, exploring their narratives and gaming trends. A self-published fiction and fantasy author, Daniel has nearly 20 years of experience writing gaming news and a love for storytelling that drives his enthusiasm to deliver breaking news, in-depth analysis, and industry innovations. You will find him in-game as "Windfell."
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