Grapevine-based GameStop shares are set for double-digit gains Friday after news that the videogame retailer is planning to create a marketplace for NFTs.
"GameStop is in a very unique position, because a lot of these NFT projects are starting to add gaming utility behind the NFTs themselves," said Adam Hollander, an NFT investor and creator of the"Hungry Wolves" NFT collection."GameStop is well positioned, in my opinion, to be able to capitalize on that they have hundreds of millions of people that play video games that least recognize GameStop as a credible brand.
The company has been quietly hiring talent in blockchain and crypto with more than two dozen members on the team now, the source said. NFTs, which use a technology that allows proof of ownership of digital goods to be stored on a blockchain, often Etherium. It has been one of the most hyped sectors in technology. OpenSea, the best-known NFT marketplace, was recentlyGameStop's marketplace will focus on virtual video game goods such as character outfits and weapons, according to the WSJ report.
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