GameStop launches on NFTs with bad timing

A risky bet: how will it turn out for a company that has already been tried?

The popular chain of stores GameStopwhich has been struggling for a long time with a crisis from which it seems difficult to get out, has made a risky bet, or perhaps a simple mistake, in choosing the timing in which to launch on a market that was thriving and strong with great evolutionary promises a few months ago but recently the victim of a violent downturn, with sales collapsing by over 90%: we are obviously talking about the NFT market.

The GameStop NFT site is still in Beta, but will it survive in this market?

The site has not yet been fully launched, and we have no idea how the company will decide to move in this direction – a rethinking cannot be ruled out, should the NFT market not return to its share and the investment should prove to be a good one. further loss, which the company would struggle to sustain given its already precarious general conditions. GameStop NFT aims to be a real new business branch intended for the sale of the famous non-fungible token – A first collection, currently called Immutable X Gamingbut there are no details about it.

Exploded last year, the NFT market has made a real fortune for many people, reaching a huge turnover and pre-configuring itself as the future base of the super evolved metaverses under development – and already the basis of the metaverses. currently existing. However, the market seems to have saturated and exhausted in a very short time and, for some weeks now, with the exception of some very rare lucky ones, the market has gone through a terrible collapse from which it has not yet shown signs of recovery.

It may be that the strength of GameStop, in light of any collaboration agreements with well-known development studios and publishers, proves sufficient to make your NFTs of such value as to allow them to flourish anyway. The company has already hired and employed hundreds of artists in the making of NFTs. At this point, as I said in the beginning, it’s kind of a big bet. We will know if it will be a winning bet or not by the end of the year, since the official launch of the site is expected by the end of 2022, possibly even long before then.

What do you think about it? GameStop in light of the possible collaborations, do you have any hope of profiting on the NFT market? And how do you yourself see this market? Valid? Useful? Excessive? Superfluous? Let us know in the comment space below, and let’s discuss it together.