18/03/2022 GameStop Says It Plans to Launch NFT Marketplace by End of July
The struggling video game retailer recently partnered with Immutable X to build out its NFT initiative.
GameStop (GME) said in itsfiscal fourth-quarter earnings reportthat it intends to launch a non-fungible token (NFT) marketplace by the end of July.
- In February, GameStop, one of the original meme stocks, said it would bepartnering with layer 2 system Immutable Xfor the launch of its NFT plans. In its earnings release, GameStop said the partnership would provide it with up to $150 million in Immutable X IMX tokens upon achievement of certain milestones.
- GameStop also noted that it had hired dozens of people in Q4 with experience in areas including blockchain gaming, e-commerce and technology.
- Overall, the game retailer reported a fiscal fourth-quarter loss of $1.94 per share versus the consensus analyst estimate of a gain of $0.85, according to the three analysts polled by FactSet, and quarterly revenue of $2.25 billion versus the analyst estimate of $2.16 billion.
- Shares of GameStop fell about 10% in post-market trading on Thursday.
- GameStop said on its earnings call that it sees long-term potential in the NFT market. "We recognize that our special [connection] with gamers provides us a unique opportunity in the Web 3 and digital asset world," one of its executives said on the call.
- In its February announcement of the Immutable X partnership, GameStop said it expects its NFT marketplace will include “billions of low-cost, in-game assets that can easily be bought and sold,” specifically mentioning digital real estate and in-game skins.
- Shares of GameStopsurged in early Januaryafter the Wall Street Journal first reported on its plans to build an NFT marketplace and establish cryptocurrency partnerships.
Arts
(0)
(0)
Interesting NFTs
#53660
By
OthersideDeployer
The Switch
The Switch is a unique, “one of one” NFT that demonstrates the evolution of artwork in the digital realm. The Switch is developed to change form at a specific point of time in the future, known by Pak. The evolution is determined and rendered immutable by smart contracts, or self-executing code on the Ethereum blockchain.
The Moth Catcher
In this psychologically bed-headed portrait, a creature sets in a trance; his eyes devolved and vestigal, his third eye open but hardened and in a form resembling a Sharingan.
The imagery therefore expresses an awareness existing in corporeal introspection. The creature’s mind sprouts, on the left side, an emerging face, grinning. To the right side of the head, red tentacles and fingers intertwine–a collaboration of invertebrate and vertebrate consciousness cooperatively handling paint brushes of the sort used to build an oil painting. The neck and throat bristle with random thorns, as from a rose or the upper portions of a beak sprouting from its flesh. The neck itself disassociates into layers of membranous material, terminating upon an abstracted base of convoluted forms composing its body.
The nose is virtually non existent, more a sinus reiterative of the shape of the third eye. Set against the exposed teeth peering out of thick, meaty cheeks, a skeleton-like impression results.
That impression sets behind a visceral set of lips and tongue, which is the creature’s prime seat of awareness. Sensual, organic, the tongue organ hangs, meaty, and with consciousness of a sea cucumber. It illuminates at the tip, drawing the attraction of a nearby moth–with mystery of purpose.
CryptoKitties
Heyo! I'm Kitty #452989. In high school, I was voted school jock. I once dreamed of being a Spin Instructor . Now I can be found swiping right all day. In time you'll learn how purrfect I am.
CryptoPunk #2066
The CryptoPunks are 10,000 uniquely generated characters. No two are exactly alike, and each one of them can be officially owned by a single person on the Ethereum blockchain. Originally, they could be claimed for free by anybody with an Ethereum wallet, but all 10,000 were quickly claimed. Now they must be purchased from someone via the marketplace that's also embedded in the blockchain.