Favoured Meme Stock ‘GameStop’ Confirms It Will Launch a Premium NFT Platform by July

By Jody McDonald March 21, 2022 In Gaming, Investing, NFTs

Video game retailer GameStop, widely known as the company whose stock kickstarted the meme stock investment craze, has announced it intends to launch a premium NFT platform by the end of Q2 2022.

The planned launch date was announced in GameStop’s Q4 2021 earnings call, released on March 17. 

GameStop Eyes Crypto Opportunities

In a further sign of its increased interest in crypto, GameStop also mentioned the significant growth potential it sees in the sector in its 10-K filing, explaining:

As we scale and expand our core offerings we will simultaneously invest in additional growth, including blockchain, digital assets (including non-fungible tokens), Web 3.0 technology, and new destination formats for our stores.

GameStop K-10 Filing

Given its existing status as a well-known video game retailer, GameStop plans to focus its NFT efforts on in-game assets and other game-centric virtual assets, including character skins and in-game real estate.

NFTs Will Launch On Immutable X

Having flagged its intention to enter the NFT space in May 2021, in January 2022 GameStop announced it had chosen to partner with Immutable X its platform. GameSpot has cited Immutable X’s zero gas fees for minting NFTs and its carbon-neutral status as crucial strengths. 

Immutable X is an Ethereum-based layer-2 system built specifically for NFT trading. It uses zero-knowledge rollup technology developed by StarkWare to complete over 9000 NFT transactions per second.

Jody McDonald

Jody McDonald

Jody is a Brisbane-based freelance writer who specialises in writing about business, technology, and the future of work.

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