Friday, January 07, 2022 10:40:39 UTC

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.(More)

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