GameStop debuts NFT Marketplace | PYMNTS.com

GameStop launched a new non-fungible token (NFT) marketplace on Monday (July 11), allowing players, creators and collectors to buy, sell and exchange digital art collectibles.

The Marketplace allows users to connect their own digital asset wallets to the Marketplace, including the GameStop Wallet, according to a company release. The non-custodian Ethereum Layer 2-based marketplace also allows users to own their assets, which will be secured on the blockchain.

GameStop said that the functionality will be expanded over time to add more categories, including Web3, games and more content from other creators, along with other Ethereum environments.

This news comes as GameStop has recently announced several changes to the company’s staff base, including the sacking CFO Mike Recupero and other cuts on the corporate side, PYMNTS wrote.

Read more: GameStop Fires CFO Mike Recupero announces layoffs

Recupero had only joined the company about a year earlier, and an anonymous source said that Recupero was fired by chairman Ryan Cohen because he did not fit the company’s culture and that he was “for hands off.”

The CFO role will now be handled by the current Chief Accountant Diana Jajeh. According to the anonymous source, there are further layoffs on the corporate side, as the company has been looking to eliminate inflation.

GameStop is also moving to a new type of company as it tries to adapt to the digital world, as a good portion of the video game community is mostly online these days. The company has been working to enter the world of crypto, blockchain and NFT for some time, as earnings in the first quarter show some new hires and plans in that direction.

See also: GameStop jumps into crypto, NFTs with the launch of the Digital Asset Wallet

The company made headlines in early 2021, with the trend of “meme stocks” putting a renewed focus on the company as retailers bought many stocks to try to offset the predictions of failure by large hedge funds.

But all the while, GameStop did not have many updates on the overall corporate strategy, preferring to keep things closer to its chest.

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