Ethereum News

GameStop Will Use Ethereum to Power New NFT Platform

Video-game retailer GameStop is creating a team to develop a non-fungible token (NFT) platform built on the Ethereum blockchain.

The publicly traded company has created a new subdomain on its website, vowing to put together a team to build the platform.

“We welcome exceptional engineers (solidity, react, python), designers, gamers, marketers, and community leaders. If you want to join our team, send your profile or something you’ve built to:”

NFTs are unique digital assets blockchain-based digital assets that can be certified to be to be unique. They can be used to represent digital artworks, parcels of virtual lands, and collectibles.

GameStop’s new website has a retro aesthetic, featuring an Ethererum-styled cartridge being inserted into a mobile gaming device. The display highlights GameStop’s target audience for the NFT launch.

“Power to the players. Power to the creators. Power to the collectors.”

The smart contract code highlighted on the page links to an Ethereum contract address indicating that the company has already developed its own ERC-721 standard token, dubbed GME, to create NFTs.

GameStop (GME) spearheaded the stock market mania driven by the WallStreetBets Reddit forum at the beginning of 2021, when it saw a nearly 2,800% rise in January, up from a low of $17 to a high of $487.

In the month of May, GME has seen a 23% increase and is currently trading at $240.

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Featured Image: Shutterstock/Panuwatccn

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