GameStop is launching its own NFT platform on Ethereum
NFT mania continues with no sign of slowing down. Many prominent companies are now joining the bandwagon and get their slice of the non-fungible token (NFT) market before it fizzles out. Last week, we told you about Voice.com, a $30 million domain once used as a blockchain-based social media platform, announced it was pivoting to become an NFT platform.
Now, GameStop wants a piece of the action. The video game chain with brick-and-mortar game stores around the US announced today that it’s building an NFT platform on Ethereum. The new NFT portal was first reported by Redditorswho found the NFT sub-domain site nft.gamestop.com”
At this point, very little is know about the new portal, except for the title that reads reads “Change The Game.” Below the page, GameStop said:
“We are building a team. We welcome exceptional engineers (solidity, react, python), designers, gamers, marketers, and community leaders. If you want to join our team, send your profile or something you’ve built to: email@example.com.”
Early this year, GameStop, a flailing video game chain went from losing $470 million to become a $7.05 billion company by market cap after the Reddit army descended on the stock.
GameStop opened 2021 with its stock priced at $17.25 on January 4. GameStop’s shares skyrocketed the buying frenzy among individual investors active in online forums. It all started in a subreddit chat room called r/WallStreetBets.
The group, with its 2 million subscribers, massively inflated the price of GameStop to stick it to Wall Street. One of the trending posts on Tuesday in the group features a screenshot of the user’s portfolio showing an over 1,000% return on GameStop’s stock. On Friday, trading of GameStop stock was halted after the Reddit drama.