GameStop won't stop at NFTs, now investing in blockchain games

GameStop's new blockchain business unit will open an NFT marketplace in 2022 while also investing in new crypto-powered games.

@DeekeTweak
Published Fri, Jan 7 2022 1:35 PM CST

GameStop is going all-in on play-to-earn blockchain gaming and NFT trading.

GameStop won't stop at NFTs, now investing in blockchain games 664 | TweakTown.com

Brick-and-mortar store GameStop is betting big on nascent and speculative digital technologies like blockchain in a bid to supplement its sluggish retail business. GameStop's new blockchain business segment has over 20 people, sources tell The Wall Street Journal, and the unit has been confirmed by recent company job listings.

GameStop has a multi-faceted approach to web3. The company plans to open an NFT marketplace where users can buy and sell digital non-fungible tokens on the popular Ethereum blockchain. Alongside NFT creators, which GameStop is currently trying to woo, the retailer would take a cut on every auction and sale.

Sources also tell the WSJ that GameStop has invested millions into new crypto business deals for play-to-earn blockchain games. These experiences would ideally fuel the engagement wheel required to spin NFT content sales and trades.

The company is currently hiring five roles regarding web3, blockchain, and NFTs:

  1. Product Owner - Head of Web3 Gaming
  2. Analyst, Security
  3. Accounting Manager, Blockchain
  4. Product Manager -Blockchain, mobile
  5. Director of Product Marketing - NFT Platform
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NEWS SOURCE:wsj.com

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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