GameStop (GME) Wallet and NFT Marketplace revenue was not material to Q3 2022 results

by James · December 7, 2022

GameStop’s 10-Q form reveals that its crypto business didn’t have much of an impact on its quarterly results.

GameStop (GME) recently shared its Q3 2022 earnings report to share with the public and investors how it performed financially in the most recent period. In addition to the earnings report, GameStop also filed a 10-Q with the SEC for the previous quarter. This filing includes additional information not found in the actual earnings report, such as that the GameStop Wallet and NFT marketplace were not material to the quarter’s results.

GameStop’s (GME) Q3 2022 10-Q filing with the SEC is available on the company’s investor relations page. This is where the retailer talks to GameStop Wallet and the NFT Marketplace.

Official promotional artwork for GameStop's NFT marketplace that sounds "Change the game" — Source: GameStop

That is interesting information to say the least. GameStop has clearly invested a lot of its resources into planting its flag in the crypto and NFT world, but that part of the business doesn’t seem to have yielded much of a return so far, not that that couldn’t change in retrospect . . It’s also worth noting that during this quarter, GameStop announced its partnership with crypto exchange FTX, which went on to file for bankruptcy during the fourth quarter.

For everything you need to know about GameStop (GME), Shacknews has all the details.

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Donovan is a young journalist from Maryland who likes to gamble. His oldest gaming memory is playing Pajama Sam on his mother’s desk at weekends. Pokemon Emerald, Halo 2 and the original Star Wars Battlefront 2 were some of the most influential titles to spark the love of video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Star Wars geek and movie fanatic who will talk to you about movies and games all day long. You can follow him on twitter @Donimals_