Insights

GameStop NFTs

Who could forget the Game Stop rally that electrified a whole class of new money investors? It all started with a quirky little fellow that was really into stocks…and cats… who recognized the naked shorts placed on a pretty popular video game store. The stock was worth owning and sure enough it exploded in value… Deep F’ng Value! With the enthusiasm being sucked out of the marketplace and GME stock the company is jumping onto another bubble: the NFT bubble. MSN Reports that “GameStop plans to launch its own marketplace for non-fungible tokens (or NFTs) and is co-creating an “up to $100 million” fund for game developers who use it. The marketplace will mark GameStop’s expansion from a popular meme stock to a company that dabbles in cryptocurrency and Web3 tech — although it may also provoke the wrath of gamers who are stridently opposed to NFTs.”

Leave a Reply

Your email address will not be published.