Following Ubisoft and Square Enix, GameStop is apparently the latest player in the video game industry that sees NFTs as a way to boost its profitability. According to The Wall Street Journal, the company has hired nearly two dozen people as part of a newly formed cryptocurrency division. The unit is reportedly building an online marketplace for buying, selling and trading NFTs of in-game items like cosmetics. The hub could launch as soon as later this year. Additionally, the division is reportedly close to partnering with two companies to co-invest in games that make use of blockchain and NFT technologies. GameStop is said ot plan to partner with a dozen companies in the cryptocurrency ecosystem.News of the development sent the value of GameStop’s stock surging to $159.77, up from $131.01, in aftermarket trading. According to The Journal, GameStop executives see NFTs as a way for the company to return to profitability, but it’s not clear if the nascent technology has a place in video games.Many
