World-renowned console and games retailer GameStop has hired more than 20 people in a new unit to develop an NFT-marketplace. This was reported by The Wall Street Journal, citing sources.

Following the news, shares of US retailer GameStop soared 22.68% to $160.75 per security. At its peak, the company’s stock was up almost 33%.

The launch is scheduled for the end of 2022. The company plans to create an online hub that will allow it to buy, sell and exchange NFT tokens for computer games (specifically, character clothing and weapons).

The Wall Street Journal claims that GameStop is close to striking agreements with unnamed cryptocurrency companies to leverage their technology and co-invest in game development using blockchain and NFT technology. According to sources, the retailer intends to sign contracts with dozens of cryptocurrency companies and invest millions of dollars in them in 2022.

In May, GameStop announced the launch of an NFT platform and a native GME token. The company also announced the recruitment of developers, designers, gamers, marketers, and community leaders.

As a reminder, more recently, several hyper-casual companies have announced plans to pursue opportunities in the market for blockchain games. We recommend reading the following articles:

  1. Zynga and Forte announce partnership to develop blockchain games
  2. Voodoo enters the NFT gaming market
  3. Azur Games invested $2 million in Axes 2.0 Metaverse – a gaming project featuring NFT technology