GameStop Plans $100 Million Investment In the NFT Ecosystem

The most popular video gaming company GameStop (GME), has disclosed its plan for NFTs. According to a Bloomberg report, GameStop plans to go from being famous for its brick-and-mortar store to a fully digital platform. Currently, the company is in talks with several Crypto and Blockchain firms to understand the demand in the market.

GameStop is planning to launch multiple funds each of up to $100 million that would be invested in content creators, game studios, and Artists. The recent play-to-earn (P2E) games are the latest trend in the NFT ecosystem, and GME might take on the P2E market with its vast gaming experience.

While NFTs were in existence since 2012, they got attention in the 2019-20 phase when sports leagues started to use them as fan tokens. Although, 2021 turned out to be the lucky year for NFTs, as its ecosystem continues to expand with mainstream players.

The new Metaverse theme also offers a huge market opportunity for new entrants and Gamestop could take the initiative to build its own gaming metaverse. A few months back, Facebook with over $2 billion customers recently renamed itself to Meta to make its Metaverse plans clear. Similarly, GameStop can develop its own gaming metaverse.