Back in 2017, when the non-fungible token (NFT) was founded as a product within the crypto-verse, its creators had no idea how far it would go. Despite being launched in 2017, the NFT sector did not get its real breakthrough until the end of 2020.
As the cryptocurrency industry started gaining worldwide adoption, the NFT sector soon ended up catching public attention. This is when the NFT sector started growing and soon, more investors came into the industry.
As for the major institutions and companies, they came with their own innovation and started offering services of their own. This is the reason why the monthly trades for NFTs have crossed the $1 billion benchmark in the month of August 2021.
Now that the industry is growing big, several tech giants from the mainstream industry are aiming to invest in the sector. They want to gain from the opportunity and increase their revenues and earnings through a fast-growing technology.
While several tech giants are adopting the NFT technology, GameStop is the recent tech giant that has showed interest in NFTs.
GameStop is a major consumer electronics and video game retail giant. The firm gained tremendous growth and success in terms of its stocks at the beginning of 2021. It is the firm that brought Robinhood under a lot of fire from small- and medium-level investors for ceasing their investments in GameStop shares. On the other hand, Robinhood let major and high-profile investors continue to trade in stocks for GameStop.
The reports have now started emerging that suggest that GameStop may be working to launch a new marketplace for the non-fungible tokens (NFTs). So far, it has been reported that the NFT marketplace GameStop is aiming to launch would be based on the Ethereum-network.
For now, there is no official announcement or confirmation made by GameStop in regards to its exploration of the NFT sector. However, one Twitter user going by the name “croissant” has shared some inside information about GameStop’s interest in the NFTs.
The particular user has claimed that GameStop is indeed looking into the possibility of launching a marketplace for NFT. Given the fact the user has 53,400 followers, GameStop may soon have to intervene and provide clarity on the matter.
It was back in May of 2021 when the rumors first started emerging around GameStop’s interest in developing a marketplace for NFT. The entity that first spread the beans on the idea of GameStop launching the NFT marketplace was GameStop itself. It was back in May when GameStop announced it was going to start investing in NFTs.
Later on, a website was reportedly launched by GameStop that featured a very small amount of information. The only hint it gave was that Ethereum was involved with GameStop in the NFT exploration as the website had the huge logo of Ethereum on it.