GameStop is turning its business around. It has had enough negative energy that the latest headlines have given it. But, more than that, it’s trying to make a hit on the downside of consumers buying more digital products, like NFTs.
Emerging technology has led to many changes that have killed some great businesses that have served customers for decades. For example, there was once a video store called Blockbuster, and you won’t find that anywhere around anymore. GameStop is going through the same transition. However, I think its latest move will help it get through.
NFTs Offer Solutions In An Already Thriving Market
Cosmetic outfits and weapon skins are a huge indicator that gamers are comfortable with NFTs. If they’re spending money on virtual goods like that, why not spend money on an NFT? It’s a no-brainer.
The plan is that game developers and publishers will be listing NTFs on GameStop’s marketplace. Tens of millions of dollars are at stake. Over a dozen companies are involved in the deal for cryptocurrency companies to help GameStop work out the underlying technology of its new game plan.
Square Enix and EA are all in. But there are some hesitations. First, they’re wondering if it’s too early, which is a reasonable consideration.
“So, it’s still early to tell, but I think we’re in a really good position, and we should expect us to kind of think more innovatively and creatively about that on a go-forward basis.” EA CEO Andrew Wilson
Obviously, GameStop is on top of its game. But, to be honest, there’s a good bit of pool for virtual players to swim in. Spending virtual money is one thing. Spending actual money on virtual currency is different. It’s an investment that pays enormous dividends. Ask all the millionaires Bitcoin has made.
Make your own huge moves. Go bank, Yourself!
