news hardware Crypto: A video game giant wants to market special gift cards in stores
This company specializing in the distribution of video games pushes the adoption of web3 even further. After launching its own NFT platform, the American gaming giant is partnering with a crypto giant FTX. Among other things, the company wants to sell crypto gift cards directly in stores.
GameStop is partnering with crypto platform FTX
The American video game distribution giant continues to reaffirm its enthusiasm for blockchain technology. This Wednesday, Micromania’s American counterpart announced an unprecedented partnership with cryptocurrency buying and reselling platform FTX.
FTX is one of the most popular crypto exchange platforms. Ranked 3rd behind Coinbase and Binance, this exchange continues to grow with this new initiative despite the winter that has been going on in the crypto sector since June.
This collaboration is part of the democratization of cryptos to “introduce more GameStop customers to the FTX community and its digital asset marketplaces.” In this sense, the alliance should take several more or less surprising forms.
Indeed, after this partnership, Gamestop intends to offer FTX gift cards in several of its stores in the United States. Specifically, for a few dollars, customers can buy a card of a larger or smaller amount to fund their FTX account with buying cryptos directly on the platform.
GameStop marks a new milestone in the launch of web3. Since the beginning of the year, the company has been exploring new possibilities related to these new technologies.
GameStop: A gaming giant merges with the crypto and NFT sector
The giant GameStop is not on the first try with these new uses of web3. Since the beginning of the year, the company specializing in video games has been exploring new horizons.
Using this logic, the company revealed its aspiration to create a wallet dedicated to the second cryptocurrency: Ethereum.
Additionally, GameStop released its own NFT marketplace last July. Despite declining interest in NFTs, the initiative was a success with more than 2 million trading volumes on the day of launch.
These various actions by GameStop appear to be having a positive impact on the company’s financial health at the moment. In fact, at the end of the health crisis, video game distribution went through difficult times, especially after the GameStop affair, which, among other things, brought to light the manipulation of its prices. Therefore, the use of new web technologies seems an ideal opportunity to cushion the stock price drop or the recent massive layoffs.
GameStop appears to be on track as the company has seen its share price rise significantly on backing from crypto giants like FTX.
With this announcement, GameStop confirms its appetite for web3, despite the bearish context. Therefore, we imagine that the next step could be to offer customers to pay for games in crypto or even develop a GameStop signed with cryptographic tokens to continue…
