GameStop is an American shop that sells games, accessories, consoles, and other electronics. However, it became so much more than that at the beginning of the year. The shop went from almost broke to highly successful through a sheer stroke of luck. As the shop wasn’t performing well, many stockers borrowed GameStop shares to purchase them later when the company went bankrupt at lower prices. However, it did not happen as several Reddit traders bought the company’s stock in search of a profit which led to a massive surge in demand and helped GameStop get back on its feet.
Cut to this week, GameStop surreptitiously announced its plan to create an NFT platform. This announcement wasn’t directed to the media but was in the form of a website that included new job postings. However, while sly, this move was immediately noticed by the crypto community and was made public.
The website boasts a luminous gaming console with the words, “Power to the Players, Power to the creators. Power to the collector.” Below this message, the website mentions that GameStop is looking for designers, marketers, gamers, community leaders, and engineers that excel in React, Solidity, and Python.
The exact details of the project are still unclear, but the website does mention a page link to an Ethereum address indicating the company’s plan to use Ethereum Network as the base.
NFTs adapting to the Gaming Industry
With players like GameStop entering the NFT community, the future of the crypto community is looking bright. Last month, the total amount of investments in the blockchain gaming industry crossed the $1 Billion mark, with about 63% of it coming from venture funds and the rest raised from token sales and ICOs.
However, the in-game potential of NFTs is more than just the retailers using the tokens. NFTs will give complete control of all in-game assets to the players and allow them to use them in and out of the games. Some experts believe that NFTs can help players create their unique items in games such as Call of Duty and Warzone and incentivize other players to make donations.
The use cases and potential of NFTs are practically limitless, as proven by their inclusion in the gaming industry.