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 âbillions of low-cost, in-game assets that can easily be bought and sold,â 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.
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Visual Toy honoring the greatness of the most awarded club in the world of football, Real Madrid. Including his top stars of all time including President Bernabeu, a myth in the club's management. This Visual Toy represents the club as a title machine with the Champions League as a great emblem, since it holds the leadership in victories in the maximum European competition. A magical and fantastic mechanism like the history of the club itself. Including the Bernabeu in its last year before the remodeling in 2020, this Visual Toy brings together all the essence and soul of the merengue team.
https://javierarres.com
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Ugh! Moutard here. I'm here to enjoy slappin' da bass and spinning sick beats. I put marmite on everything. Like, everything: hot dogs, saladâeverything! I hope we can be pawmates.
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Poem by Motoyoshi Shinno, from the series One Hundred Poems by One Hundred Poets, Explained by the Nurse
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Fast forward to the present day in 2020 and we as humanity are faced with our own Goliath. An uncontrollable pandemic spread around the globe. Now with the entire planet being affected by this we understand the gravity of the situation at hand, whether it be a virus weâre fighting or other forces at play, there is indeed an energy out to shift the balance of the Universe⌠Regardless of our differences, in this moment must unite as one. With diligence, trust and belief we as a whole can come together to triumph against "the enemy".
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Original score created by the one and only Phoenix Wilder.