NFT: A video game giant launches its platform

News hardware NFT: A video game giant launches its platform

Although it has been at its lowest lately, the market for non-fungible tokens is constantly attracting new companies. Gamestop, giant of the video game distribution sector in the United States, has just announced the launch of its own NFT platform. A godsend for the company which is going through difficult times.

Gamestop launches non-fungible token (NFT) buying and selling platform

The distress of the NFT market these days does not hold back the giants of the gaming industry, which are still interested in the blockchain sector. Indeed, whether it’s publishers with Epic Games or developers like Ubisoft, everyone wants to take their market share in the web3.

This time, it is the giant of the gaming industry Gamestop which announces to set foot in the universe of NFT. The news is not new, the company specializing in the distribution of video games and electronic equipment in the United States had expressed its intention to open its own NFT purchase and resale platform in February 2022.

The American “Micromania” has honored its word since it has just inaugurated its non-fungible token exchange marketplace on July 11th. Like Opensea, the platform allows you to connect your crypto wallet in order to buy, resell or exchange non-fungible tokens.

As a reminder, an NFT (Non Fungible Token) is defined as a digital property certificate in the form of a token issued on a blockchain. An NFT is usually illustrated by a photo or video. These tokens are non-fungible (NFT), meaning they have a unique value unlike cryptos, which are fungible (1 bitcoin = 1 bitcoin). This feature has notably enabled the NFT to shine in art by creating value and rarity in digital works available on the web. Also, beyond art, this technology offers multiple uses in several sectors such as in video games, product traceability, property rights, etc.

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On its marketplace, Gamestop has brought together more than 200 collections for a total of 53,000 NFTs of all kinds.

In a logic of innovation, the Gamestop platform also offers its own wallet alongside MetaMask and WalletConnect, benchmarks in crypto and NFT storage.

Gamestop relies on NFTs to recover financially

Despite the fall in prices and the overall decline in interest in NFTs, Gamestop was able to transform the trial, since in just two days the platform recorded a sales volume of more than 2 million euros. A volume higher than the crypto giant Coinbase…

This opportunity could prove to be an ideal opportunity to manage the crisis that the company is undergoing. Indeed, the American company is facing difficult times with the fall in its share price or the massive layoffs it has undertaken this month.

With the help of new technologies, the video game giant Gamestop wishes to diversify in order to resist the business crisis.

Soon Micromania’s turn to undertake in web3?


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