July 13, 2022 · less than 3 min read
Crypto winter? What crypto winter?
Buying the dip
GameStop has announced its very own NFT platform. Currently in a Beta stage, the platform will let users buy, sell, and create NFTs, and already has more than 53,000 artworks listed. Only problem? It’s being launched in the middle of the crypto winter.
Whatever you think of the move, you have to respect the optimism. The NFT market has well and truly collapsed, however temporarily that might be. At a time when GameStop could really do with something positive on the horizon, is this really the time to be buying the NFT dip?
A step into the unknown
It’s a far cry from what GameStop backers would have expected from the firm 10 years ago, but according to the business, this is just the first step towards a much bigger Web3 adventure. In a press release, the firm revealed it’s planning to ‘expand functionality’ into the Web3 world, including Web3 gaming on the Immutable X blockchain.
But the best laid plans are lined with tanking crypto prices. While GameStop may be in love with its Web3 future, whether or not it will get to realize these plans really is anyone’s guess.
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