GameStop Launches NFT Marketplace Ahead of Stock Split

It’s a moment many GameStop (NYSE:GME) apes have been waiting for: the launch of its official NFT Marketplace. For now the site will hold primarily art pieces although GameStop is planning on offering video game-related NFTs in the near future. The move comes on the heels of the sudden firing of CFO Michael Recupero, as well as a round of layoffs across multiple divisions within the company.

GameStop has been working hard towards transforming itself from a brick and mortar retailer to a digital brand that is playing an active role in Web3. Earlier this year it launched a non-custodial digital wallet that holds cryptos and NFTs that it built with the Loopring blockchain. The NFT Marketplace is built in partnership with Immutable-X, which is another Ethereum Layer-2 solution.

So what does the future hold for GameStop? The stock is set to split in a 4 for 1 restructuring later this year. The split itself really has no meaningful impact on the business or the stock itself, and follows in a long line of other tech stock splits this year. These splits include from companies like Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL), Shopify (NYSE:SHOP), and Tesla (NASDAQ:TSLA).

Shares of GameStop were little changed on Monday following the announcement of the NFT Marketplace. The meme stock has lost about 15% in 2022 and over 31% over the past 52-weeks of trading.

Featured: $GME $AMZN $GOOGL $SHOP $TSLA

#NFT #NFTGame #Metaverse #Decentraland #NFTCollectibles #Crypto #Bitcoin

*LEGAL DISCLAIMER

 

Leave a Reply

PubCo Insight. Deep Intelligence
Including AI Reports
for Savvy Investors

If you’re looking for a way to get an edge on the stock market, you need to check out PubCo Insight. Using AI, our system is able to make highly accurate stock picks that can help you achieve major gains. With our AI Reports, you’ll be able to learn which stocks are the most traded, undervalued, and have the most potential for growth. This valuable information is absolutely essential for anyone who wants to be successful in the stock market. So sign up now and get started on your path to success!