CORRECTION: GameStop plans to launch its NFT marketplace by the end of July, not the end of April.
A previous version of this story incorrectly stated that GameStop plans to launch its NFT marketplace by the end of April.that it intends to launch a non-fungible token marketplace by the end of July.partnering with layer 2 system Immutable X
for the launch of its NFT plans. In its earnings release, GameStop said the partnership would provide it with up to $150 million in Immutable X IMX tokens upon achievement of certain milestones. GameStop also noted that it had hired dozens of people in Q4 with experience in areas including blockchain gaming, e-commerce and technology.
Overall, the game retailer reported a fiscal fourth-quarter loss of $1.94 per share versus the consensus analyst estimate of a gain of $0.85, according to the three analysts polled by FactSet, and quarterly revenue of $2.25 billion versus the analyst estimate of $2.16 billion.GameStop said on its earnings call that it sees long-term potential in the NFT market.
In its February announcement of the Immutable X partnership, GameStop said it expects its NFT marketplace will include “billions of low-cost, in-game assets that can easily be bought and sold,” specifically mentioning digital real estate and in-game skins.after the Wall Street Journal first reported on its plans to build an NFT marketplace and establish cryptocurrency partnerships.UPDATE :Added info from earnings call and other details in last three bullet points.
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