GameStop plans to launch NFT in a new partnership with Immutable
GameStop will launch its very own NFT in July 2022 for use in Immutable’s blockchain solutions. GameStop has always been at the forefront of innovation and will continue to offer a wide array of blockchain technology solutions to help its GameStop GamePlay customers succeed.
Immutable is a new decentralized storage protocol, which provides a decentralized alternative to existing cloud storage solutions, allowing users to protect and monetize their digital assets in a cost-effective manner.
In-game assets can be “sold” for real world money, and you can spend that money to purchase more game content.
“We’re excited to be able to work with a company that specializes in the blockchain technology,” said GameStop Chief Financial Officer Paul Raines. “This is a natural fit for GameStop, as we are all about customer experiences and NFTs will create a unique and fun customer experience.
GameStop Follows Coinbase into a more crowded Marketplace
This week, U.S- listed crypto giant Coinbase announced plans to launch its own retail-focused exchange. The move is likely to further congest an already-crowded space, but it also paves the way for a broader range of products and services to be built on top of the Coinbase platform.
One such service is already in the works. On Friday, GameStop announced that it would be partnering with Coinbase to offer in- store cryptocurrency purchases.
After the partnership with Immutable and the introduction of the NFT, GameStop is planning to launch a new partnership with Immutable” which will allow the implementation of new games, tools and technologies within GameStop.
As GameStop continues to develop their business strategy, the company has been expanding into new markets. The company is looking at opportunities in both the traditional physical retail space and the emerging digital space. The company is well positioned to seize opportunities to continue to grow, while maintaining its leadership in gaming.
Users on GameStop should keep a close eye on their platform to see when the new NFT functionality will be available.
This would also provide an avenue for developers to build communities within GameStop, which in turn will drive traffic to local GameStop’s and generate revenue for the company. They believe this will be beneficial for both users and developers.