GameStop is said to be developing a marketplace for NFTs for in-game items

After Ubisoft and Square Enix, GameStop appears to be the latest player in the video game industry to see NFTs as a way to boost its profitability. according to The company employed nearly two dozen people as part of its newly formed cryptocurrency division. The unit is said to be building an online marketplace to buy, sell and trade NFT items in the game such as cosmetics. The center could be launched later this year. In addition, the division is said to be close to partnering with two companies to co-invest in games that use blockchain and NFT technologies. GameStop reportedly plans to partner with dozens of companies in the cryptocurrency ecosystem.

The development news drove GameStop’s value up from $131.01 in aftermarket trading. according to the magazineGameStop executives see NFTs as a way for the company to return to profitability, but it’s not clear if the emerging technology has a place in video games.

Several recent attempts by some developers and publishers to include digital tokens in their titles have been greeted with outright hostility. It became Ubisoft, for example, when it announced the Quartz NFT platform. It also seems that the negative attention wasn’t worth it for Ubisoft, with the release of Eurogamer Report claims the company has as of December 21. But despite all the backlash, Ubisoft and others seem unfazed. At one point, Ubisoft CEO Yves Guillemot reportedly linked the initial backlash to NFTs with past anger over trends like microtransactions and loot boxes. The implication here seems to be that people will eventually accept the technology.

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