GameStop the famous global gaming company intends to establish several funds, each of which will invest up to $100 million in artists, content creators, and gaming developers. Given that play-to-earn (P2E) games are now the most popular in the NFT ecosystem, GME may be able to compete in the P2E market with its extensive gaming experience.
While NFTs were initially introduced in 2012, they gained popularity in the 2019-20 season when sports leagues began to use them as fan tokens. However, 2021 flipped the industry on its head by becoming as popular as the Defi market, and despite the rising amount of scams indicating a probable market peak, the NFT ecosystem continues to flourish with mainstream players.
The NFT craze, along with the Metaverse concept, presents a large market opportunity for new players, and Gamestop may take the initiative to establish its own gaming metaverse. Facebook, the world’s largest social networking site with over $2 billion users, recently renamed as Meta to clarify its Metaverse objectives. Similarly, GME may create its own game metaverse with possibly hundreds of millions of cash at their disposal.
