The GameStop NFT market remains to be within the works, and it seems that there are lots of creators able to share their artwork and memes. The corporate is pausing Creator enroll submissions to get caught up.
GameStop’s inventory has had a really unstable 12 months, and the corporate took benefit of final 12 months’s upward transfer by elevating capital to speculate for the longer term. One such space that GameStop has been dipping their toe into is the NFT area. Their NFT market web site has been up to date at present, pausing additional Creator enroll type submissions, saying “Whoa, a lot of superior submissions. We’d like a minute to catch up.”
Reviews surrounding the existence of the NFT market have been selecting up in steam since we initially reported concerning the web site’s reveal again in Could 2021. With tomorrow marking the anniversary of the day Wall Road turned off the purchase button on GME, many shareholders want to GameStop to really announce one thing. Whereas WSJ reported on the NFT market earlier this month, there has nonetheless not been an official reveal announcement. Whereas some within the media have declared the NFT market DOA, GameStop’s personal message at present on the NFT market web site appears to suggest there’s lots of demand. “Whoa, a lot of superior submissions. We’d like a minute to catch up. We aren’t accepting new submissions at the moment. When you’ve already submitted an software, please keep tuned!”
GameStop (GME) shares are down fairly a bit from the all-time excessive reached final 12 months, however there stays a military of retail traders who maintain the shares and present no signal of relenting on this battle between Wall Road and Primary Road. With the SEC offering little or no readability on what occurred a 12 months in the past and mainstream media panning the inventory virtually on daily basis, many GME traders really feel extra emboldened and are digging their heels in for one more spherical with hedge funds.
Will NFTs truly be a constructive catalyst for GameStop? That continues to be to be seen, however this initiative highlights the modifications occurring on the online game retailer. For now, at present’s information places a highlight on the truth that there’s nonetheless demand for the GME NFT market. We will probably be maintaining a tally of nft.gamestop.com for extra updates and maintain it locked on our GME subject at Shacknews to remain updated on the entire newest GameStop information because it breaks.
This text is just meant for academic functions, and shouldn’t be taken as funding recommendation. Please take into account your individual funding time horizon, danger tolerance, and seek the advice of with a monetary advisor earlier than performing on this data.
Full Disclosure:
On the time of this text, Shacknews major shareholder Asif A. Khan, his members of the family, and his firm Advantage LLC had the next positions:
Lengthy GameStop by way of GME shares
Lengthy GameStop by way of GME name choices
