Meme stocks meet crypto mania with GameStop pursuing NFT

Following OpenSea’s success, a slew of other NFT marketplaces have sprung up in recent months, hoping to attract users. GameStop already has a stable of millions of loyal gamer fans whom it can direct into its own marketplace.

The stock-boosting power of crypto was on display earlier this week when Square Enix shares jumped 7.5 per cent after its president’s new-year letter set out plans to develop metaverse, blockchain and NFT-based incentives for players. That also illustrated the contrast between the market and public reaction as the developer, whose titles include the iconic Final Fantasy franchise, was roundly lambasted by gamers and industry observers for its monetization efforts.

Bloomberg


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