GameStop is getting out of the NFT business.
Nearly a year and a half after launching its NFT marketplace, publicly traded video game retailer GameStop has said goodbye to its platform that supports gaming NFTs and other collectibles on Immutable X and Loopring.
A message on the marketplace's website reads: “GameStop has decided to shut down our NFT marketplace. Because NFTs are created on the blockchain, however, they can be imported and bought and sold on other marketplaces.
About four months ago, GameStop announced that By killing the NFT wallet For many of the same reasons. GameStop broke the news to retailers in a similar way: a pop-up message on the marketplace. It's unclear why GameStop didn't shut down both products at the same time, opting instead to exit the crypt.
GameStop first announced plans to engage with NFTs in 2021, and in January 2022; is it. He hired a team of 20 people. To control the gaming NFT market place. About a month later, the longtime retailer announced that it had partnered with Immutable, using Immutable X's blockchain. 100 million dollar fund An immutable IMX token from a crypto firm. A day later, GameStop cashed out a large chunk of the IMX tokens it had just received. Throwing 47 million dollars Priced in the market.
In the year In July 2022, GameStop laid off an unknown number of employees—however NFT launched its marketplace. For the public. After months it was finally added Immutable X game NFTs to the marketplace—but that came months later. GameStop fired its CEO Who oversees the retail cryptocurrency?
A search of GameStop NFT Marketplace data shows that analytics platform DappRadar has already removed it from the list. It was added at the beginning September 2022. Notably, the GameStop NFT Twitter account didn't tweet about the shutdown — and hasn't tweeted since September 2023.
GameStop did not immediately respond. DecryptRequest for feedback.
Edited by Andrew Hayward.
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