The American video game retailer, which became a market leader in 2021 thanks to WallStreetBets, is in talks with companies in the crypto industry to launch its own NFT marketplace.
GameStop has already hired more than 20 people to develop an NFT marketplace. The platform will allow gamers to trade digital artifacts.
News of GameStop's plans sent the company's stock price up 29%. Trading closed at $131 on Thursday but rose to $172 after the close. However, some users believe that another reason was driving the growth, and the situation is similar to last January.
GameStop shares rose almost 1,500% in two weeks in January 2021, after a call on the r/WallStreetBets subreddit to stop big players from sinking the company. At the same time, online trading platform Robinhood.com limited trading in GameStop shares.
Such market fluctuations brought huge losses to some hedge funds.
Last year, the company continued its transition to digital technology. GameStop launched its NFT website, resumed accepting crypto payments and announced the development of a native GME token.
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