GameStop Stocks Rise 17% Following the NFT News

GameStop stocks recently saw an increase in price by 17%, following the latest news on NFT plans. According to the latest reports, the video game retailer is launching a marketplace for non-fungible tokens.

GameStop Partners With Two Crypto Companies

What’s more, GameStop is also allegedly partnering with two cryptocurrency platforms to explore and share blockchain technology in the gaming industry. GameStop is also working on NFT technology and projects.

GameStop CEO Matt Furlong recently stated that the company is exploring NFT gaming and Web3. Even the company’s job descriptions included words like “NFT” and “Web3.”

At the same time, GameStop is undergoing a turnaround plan. Still, the co-founder Chairman Ryan Cohen has remained silent about his plans for the company. Instead, he only stated that the company is trying to do something that no other retailer has ever done.

GameStop also went through a change in the company’s C-level staff. Amazon veteran Matt Furlong is now the CEO, and Mike Recupero is the new CFO. The company also announced it had established new offices in Seattle and Boston, aiming to benefit from these two technology hubs.

GameStop is an American video game, consumer electronics, and gaming merchandise retailer located in Texas.