GameStop (GME) enters NFT space

Shares of GameStop (GME) surged into todays close, shares are currently sitting at around $208 per share.

One thing to note is that a new sub domain was discovered, suggesting that GameStop will enter the nonfungible token (NFT) space. The company has not released any type of news about what this sub domain will be used for but from looking around, it seems that they’re building a team.

You can also see that they have an Ethereum address on the site, this may suggest that the company is getting ready to release some GameStop-based NFTs or the company might even create an NFT marketplace for gamers which I don’t think would be a bad idea.

According to The Motley Fool, a spokesperson spoke to crypto news outlet Decrypt, saying that the company is looking to mint some NFTs or add a token to its platform.

Doing this would create a digital economy in which gamers could use this currency between games on the platform and when attached to an NFT it could grant the player exclusive rights or items in that specific game, in turn preventing duplication of items and recording item ownership to one person.