{"id":12166,"date":"2022-07-13T00:38:02","date_gmt":"2022-07-13T00:38:02","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/gamestops-nft-marketplace-goes-live-to-mixed-reception\/"},"modified":"2022-07-13T00:38:04","modified_gmt":"2022-07-13T00:38:04","slug":"gamestops-nft-marketplace-goes-live-to-mixed-reception","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/gamestops-nft-marketplace-goes-live-to-mixed-reception\/","title":{"rendered":"GameStop’s NFT Marketplace Goes Live to Mixed Reception"},"content":{"rendered":"
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GameStop\u2019s NFT marketplace is officially live as of July 11, 2022. Users who\u2019ve set up their GameStop wallets are now free to fill them with NFTs from the marketplace, along with any Ethereum they\u2019ve set aside for this big day.<\/p>\n

So how\u2019s it doing? Well, financially speaking, pretty good. Reports from GameStop analysis Twitter account GMEdd<\/a> indicate that within 12 hours, the marketplace has grossed well over $1 million in trading volume.<\/p>\n

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The GameStop NFT Marketplace has reached over $1,000,000 in volume since launching nine hours ago.<\/p>\n

\u2014 GMEdd.com (@GMEdd) July 12, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

GMEdd also cited MetaBoy as the marketplace\u2019s highest-grossing collection, netting over $100 thousand in sales within the marketplace\u2019s first few days online. One piece in the collection even features an asking price of over $2 billion, though it\u2019s unlikely it\u2019ll actually sell for anywhere close to that amount.<\/p>\n

GameStop\u2019s bullish continued run into NFTs and Web3 as a whole follows two key announcements surrounding the once-beleaguered games retailer. First is its incoming four-for-one stock split set to take effect on trading floors this July 22. While this move (along with the promising early returns of its NFT marketplace) may lure more investors to the company, only time will tell if it will result in long-term success. <\/p>\n

The move also follows early July reports regarding massive layoffs within the company\u2019s corporate sector as it continues to push toward cutting costs and maximizing its current Web3 strategy. These layoffs also included the departure of its CFO Mike Recupero, as well as several employees of GameStop-owned magazine Game Informer.<\/em><\/p>\n

With the timing of its layoffs, and the current struggles faced by the NFT market, some users have been left disappointed by GameStop\u2019s aggressive Web3 strategy.<\/p>\n

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#GameStopNFT<\/a> made me lose the little respect I had for GameStop. Support your local game stores or buy from eBay for used games.<\/p>\n

\u2014 MilkLadsForever (Justin) \ud83c\uddfa\ud83c\udde6 (@MilkLadsForever) July 11, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Some are even down on the strategy entirely, with Forbes contributor Paul Tassi writing a scathing indictment of the new marketplace, calling it an \u201cOpenSea knockoff [\u2026 full of] memers running around listing garbage art JPEGs for millions of dollars.\u201d<\/p>\n

With initial reception so mixed, it remains to be seen if GameStop will be able to taste the highs it saw during its time as a meme stock in early 2021.<\/p>\n<\/p><\/div>\n