GameStop’s NFT marketplace first-week sales surpass Volume on Coinbase

As per CoinDesk statistics, GameStop‘s NFT platform appears to be in initial popularity with JPEG enthusiasts, with over 5,000 ETH (about $7.2 million) in trade activity since the July 11 release and over double rival Coinbase’s overall NFT value.

Overall sales exceeding 1,200 ETH (about $1.7 million) have come first from enterprise MetaBoy, the platform’s leading selection since its inception. This marketplace used to have a trading activity worth 1,831 ETH (about $2.7 million) on the first day; however, sales volume has slowly dropped.

As per Dune Analytics, a rival service from cryptocurrency exchanges, Coinbase alone has sold 1,913 ETH (about $2.8 million) from its first introduction on May 4th.

But Coinbase NFT problems arose immediately in the company’s life span, with transaction statistics disappointing even from the beta. After that, the business let off around 1,100 workers last June, and its Coinbase platform failings have also come under criticism.

Why is GameStop winning?

The success of the store of GameStop for NFT is most likely due to the company’s dedicated fanbase rather than the platform’s innovation. Within NFT Twitter, opinion has mainly been favorable, although Coinbase and its bigger business reputation have started trending in the other route.

Moreover, GameStop’s popularity is notwithstanding its 2.25 percent transaction cost, whereas Coinbase maintains providing no-fee trading to gain more customers.

GameStop has launched several Web3 products in recent times, including the store. As Of may, GameStop released its own specialized crypto and NFT account, which temporarily boosted its share price. Last February, this business unveiled a $100 million video game fund in collaboration alongside Immutable X, and it recruited for the platform’s tail end.

Both markets are still far from the leading manufacturer OpenSea, which had $120 million ETH transactions in the previous week, as per DappRadar statistics.