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Top Crypto News Today: GameStop Video Games Firm partners with FTX Crypto Marketplace

Top Crypto News Today: GameStop Video Games Firm partners with FTX Crypto Marketplace

Online gaming has seen a huge change in its way of presentation soon after the integration of crypto within the gaming industry. It is amazing, right? All the gaming assets can now be traded on various platforms along with the creation of personalized NFTs!

GameStop also referred to as GME; a video game firm;  is partnering with Sam Bankman-Fried’s crypto exchange FTX.US in order to promote the interaction between the gaming and crypto community. This handshake of the two companies will be resulting in the collab of one of the key players in the meme-stock craze of a year and a half ago, with one of the leading crypto exchanges. 

The announcement of the collaboration, on 7 September 2022 also mentioned that the partnership is intended to introduce more GameStop customers to FTX’s community and its marketplaces for digital assets. In addition to collaborating with FTX on new e-commerce and online marketing initiatives, GameStop will begin carrying FTX gift cards in select stores.

GameStop also launched an NFT marketplace this summer. The NFT marketplace garnered strong volumes that resulted in surging crypto exchange Coinbase’s (COIN) volumes. According to the CoinDesk news; ‘GameStop stock was rising close to 10% after the release of the news and GameStop’s fiscal Q2 earnings. For the quarter ended July 30, the company reported revenue of $1.14 billion, compared to the consensus analyst estimate of $1.27 billion, according to FactSet. The company also reported an adjusted net loss of 36 cents per share, better than analyst estimates for a loss of 42 cents per share.’

GameStop has not only rolled out the NFT marketplace; a Web3 product; in recent months. Back in May, GameStop also launched its own wallet, which is dedicated to crypto and NFT. All these products also resulted in briefly pumping its stock price. The GameStop company is also sitting on a $100 million gaming fund that it announced in partnership with Immutable X, which it tapped for the marketplace’s back end, in February.

Source: CoinDesk

What is an NFT or Non-Fungible Token?

In a nutshell, a non-fungible token (NFT) is a one-of-a-kind digital ledger data unit that can be owned by only one person or entity. All digital data such as videos, photographs, music, movies, etc can be represented as NFTs. This technology uses blockchain to create a verifiable and public proof of ownership to avoid any duplication.

What is an NFT Marketplace?

NFT marketplace is the gateway to participate in the sale of these digital assets and claim one to your name. NFT marketplace is just like Amazon of the digital realm. But before we discuss the top 10 NFT marketplaces to look at, we must first decide what kind of NFT you wish to buy, sell or create. 

TOP 10 NFT MARKETPLACES: POPULAR PLATFORMS TO BUY & SELL NFTS (IN NO PARTICULAR ORDER)

Name  Website
OpenSea https://opensea.io/
Axie Marketplace https://marketplace.axieinfinity.com/
NBA Top Shot Marketplace  https://nbatopshot.com/marketplace
CryptoPunks or Larva labs  https://www.larvalabs.com/cryptopunks/forsale
SuperRare https://superrare.com/
LooksRare https://looksrare.org/
Rarible https://rarible.com/
Foundation https://foundation.app/
Decentraland https://market.decentraland.org/
Nifty Gateway  https://niftygateway.com/

Additional Read: Top 10 Most Expensive NFTs sold

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