GameStop to launch its own cryptocurrency token and NFT platform

GameStop has published a message on its website about launching an NFT platform as well as its own cryptocurrency token.

@JakConnorTT

Published May 26, 2021 2:48 AM CDT
Updated Jun 22, 2021 7:06 AM CDT

45 seconds read time

A new message on the GameStop website has revealed the company is planning on launching its own NFT platform and cryptocurrency token.

GameStop to launch its own cryptocurrency token and NFT platform 01

According to the announcement GameStop is currently looking to hire developers, marketers, gamers, designers and other specialists to work on the project which will eventually be brought to market for consumers to enjoy. Additionally, GameStop representatives have posted a link to a smart contract on the Ethereum blockchain called "Game On Anon".

The smart contract reveals a GameStop token being issued, and this token would be directly linked to the price of GameStop's stock GME. Since this announcement, the price of GME stock has risen 18%, and the volume of trading has increased drastically. The project is an ambitious one, but since GameStop is in a losing battle to digital media, they are in dire need to flex into a different market. For more information on this story, check out this link here.

NEWS SOURCE:thecoinshark.net

Jak Connor

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.