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 ābillions of low-cost, in-game assets that can easily be bought and sold,ā 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
The Harvest
An anthropomorphic figure stands, wide eyed, staring at the viewer; its body masculine, muscular, and humanoid. Its āmindā dissociates into a conglomerate of structures resembling feathers, grain, teethāas well as a radial flower ānodeā, casting linear rays throughout the composition.
To his left, a vat of bodies gesture and writhe in a kind of amniotic soup, attended by a video game robot. The bot's red display reads āuWuā.
Behind the robot and filling the left side of the composition is an archaic figure composed of a variety of vintage objects and symbols. Among them are a hardbound book with ancient cuneiform scripts, indicating barley, beer, bread, ox, house, and sky, behind which is a grimacing, salivating jagged toothed maw; and an old Commodore floppy drive. The figureās head tilts toward an illuminated crescent moon, suggesting the Egyptian Sacred Bull.
The archaic figure is composed of a variety of mutating cells, which shift in color, and pattern; eventually breaking free into an ephemeral broadcast of bubbles which move across the background.
The work came into being against a psychological introspection, which included associations to pop culture such as alien abduction and pod people, as well as quite a bit of reflection on grains as a symbol of civilization, agriculture, sustenance, life, and imbibing (mainly whiskies).
taNNa
conceptual art. drawing and digitally processed.
CryptoPunk #6817
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.
DragonBallZ
Mahalo! I'm DragonBallZ. I'm a professional Spin Instructor and I love hamburgers. I was voted most likely to work at NASA in college. I think you'll love me beclaws I have cattitude.
#57512
By
OthersideDeployer