Despite the criticisms directed at NFTs, gaming companies keep to denote forays into the infinite. Konami recently appear a line of NFTs for Castlevania's 35th ceremony, meanwhile, Square Enix is currently making meaning investments into blockchain gaming. According to a written report past The Wall Street Journal, GameStop is as well joining the cryptocurrency craze.

The video game retailer's stock rose following the announcement of an NFT market place in an attempt to develop partnerships with other companies in the cryptocurrency space. According to the written report, more than than 20 people take been hired to run this new business division. GameStop plans for its online market place to deed as a hub for all sorts of purchasing and trading of NFTs, ranging from weapons to avatar outfits.

Of course, this program ways naught without some sort of infrastructure. That's where the partnerships come in. GameStop is request video game publishers and developers to list NFTs on their marketplace after it launches at some indicate this twelvemonth. The retailer is besides reportedly on the verge of signing partnerships with 2 crypto companies. Bold everything moves frontwards as planned, GameStop expects to enter an additional dozen or so agreements with crypto companies throughout the year.

GameStop's investment in NFTs and cryptocurrencies may exist its way of attempting to stay afloat. The retailer reported a net loss of over $100 million in the final months of 2022. This followed a $215 million loss for the 2022 financial year. GameStop has been in financial trouble for a while and will need to pursue changes like this to go along the doors open.