GameStop Indicates Interest In The NFT Space

GameStop became very popular with its retail business model. But after struggling in the market, the company appears to favor an entry into the NFT space. The video game retail chain could be joining other gaming companies like Ubisoft and Enix, which have already forayed into the NFT industry.

GameStop’s Tweet Raises Eyebrows

GameStop’s recent tweet on its official Twitter account suggests that it could be making bold steps towards NFTs soon. The two-letter tweet, “gm”, can simply be seen as short for Good morning, but it’s a popular term used among crypto traders and fanatics.

There have been speculations that GameStop may add NFT to its line of business, and the tweet will represent a signal speculators have been waiting for. And the fact that it is the first tweet from the Twitter account makes it more exciting for crypto and NFT enthusiasts who may be looking forward to the development.

GameStop’s NFT marketplace is a platform for in-game digital assets build into an Ethereum-based crypto platform known as Immutable X.

The platform was billed to launch by July ending, but the co-founder of Immutable X, Robbie Ferguson, recently stated that the launch may come weeks sooner.

Ferguson recently tweeted that Immutable will be integrating with major marketplaces in the next 8 to 12 weeks. GameStop is most likely going to be one of them. This means that the platform is likely going to go live in June.

GameStop Faces Legal Tussle

The news is coming when GameStop is dealing with a legal tussle due to a labor scandal. In a recent report by Polygon, a former GameStop worker filed a lawsuit against the company for allegedly violating the New York labor order.

According to the class-action suit, 25% of his job and some other employees’ jobs require manual and physical labor. And based on the New York Labor Law Section 191, GameStop was required to pay them every week. However, he and the affected workers claimed they were paid every two weeks.

The case is still in the court and no one knows where the direction of the verdict is headed. Meanwhile, GameStop seems to be concentrating on its NFT business.