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Financial News: GameStop soars on NFT news

Financial News:

GameStop soars on NFT news

Gamestop

GameStop is forming a division to develop a marketplace for NFTs and form cryptocurrency partnerships, lifting the video game retailer's stock by 27% in extended trading.

GameStop is undergoing a makeover, with Chairman Ryan Cohen bringing in executives from firms like Amazon to shift the company's focus away from brick-and-mortar and toward e-commerce.

Reference: An NFT is a digital asset that resides on a blockchain, which is a ledger of transactions maintained on a network of computers. The blockchain acts as a public record, allowing anybody to check the legitimacy of the NFT and determine who owns it.

Photo: GameStop Corp. is an American video game, consumer electronics, and gaming merchandise retailer. The company is headquartered in Grapevine, Texas, and is the largest video game retailer worldwide.

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    Content ID: 1641551729 Created Friday, January 07, 2022 10:35 AM UTC by Aaron Stipkovich, Updated Friday, January 07, 2022 10:39 AM UTC by Aaron Stipkovich.