GameStop Might be Working with Ethereum for the Development of NFT Platform

Sahaj  |  Sep 2, 2021

As per the dots connected by croissant, a Twitter pseudonym, the American video game and consumer electronics retail giant GameStop might be working on the development of an NFT marketplace based on Ethereum. Though this has not been confirmed officially yet, it is believed true by approximately 53K followers of croissants.

GameStop May be Working on NFT Platform Development Based on Ethereum 

Back in the month of May, the news that GameSpot is developing an NFT platform broke when the company released a statement that said it was officially made an entry into NFTs.

Along with this, the company introduced a website at that time that consists of little aside from a big clue in the form of a large Ethereum logo. 

Earlier this year, the gaming giant made huge profits following the popular GME stock short squeeze in the month of January. Croissant pointed out:

“It gave GameStop a tremendous treasure chest of funds to work with and use to advance their new CEOs vision of becoming the Amazon of gaming.”

The crypto analyst added to their statement and said that amalgamating NFTs with GameStop might enable the company to onboard more users.

Jordan Holberg on GameStop’s Intentions to Go All-in on NFTs

In accordance with the Principal Engineer of GameStop, Jordan Holberg, the company targets to act as a bridge between the old and the new traditional legacy e-commerce and the next generation of blockchain. 

In addition to this, Croissant’s narrative should be noted that said:

“It would allow their users & traders to easily interact with a wider range of decentralized, authenticated applications without compromising any privacy. The move to ETH, a censorship-resistant network, is a very significant step for their entire user base…”

The recent craze in NFTs has acted importantly in the gas prices skyrocketing, so there is a need for Layer 2 solutions for any major platforms that are based on Ethereum.

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