Despite the criticisms directed at NFTs, gaming companies continue to denote forays into the infinite. Konami recently announced a line of NFTs for Castlevania'due south 35th anniversary, meanwhile, Square Enix is currently making meaning investments into blockchain gaming. According to a report by The Wall Street Periodical, GameStop is also joining the cryptocurrency craze.

The video game retailer's stock rose post-obit the annunciation of an NFT marketplace in an endeavor to develop partnerships with other companies in the cryptocurrency space. According to the report, more than twenty people have been hired to run this new business organisation division. GameStop plans for its online marketplace to act as a hub for all sorts of purchasing and trading of NFTs, ranging from weapons to avatar outfits.

Of form, this program means nothing without some sort of infrastructure. That'due south where the partnerships come in. GameStop is asking video game publishers and developers to listing NFTs on their marketplace later it launches at some bespeak this year. The retailer is also reportedly on the verge of signing partnerships with ii crypto companies. Bold everything moves forward 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 be its mode of attempting to stay afloat. The retailer reported a cyberspace loss of over $100 1000000 in the final months of 2022. This followed a $215 million loss for the 2022 fiscal yr. GameStop has been in financial trouble for a while and will demand to pursue changes like this to keep the doors open.