GameStop has announced the closure of its NFT marketplace. In a statement posted on its website, the company cited “continued regulatory uncertainty in the cryptocurrency space” as the reason for the closure. The marketplace officially launched on Halloween 2022, focusing on gaming assets in partnership with ImmutableX, Ethereum's Layer 2 blockchain.
The news marks GameStop's near-exit from the cryptocurrency space after discontinuing its cryptocurrency wallet last August. Digital assets will be hosted on the blockchain rather than a single storefront, allowing customers to sell their NFTs on other marketplaces, according to a message on the website.
However, GameStop's NFT marketplace has had little impact on NFT trading volumes, so this news is unlikely to shock observers.Marketplace X account It has been inactive since September last year. Still, the move marks a significant turning point for the company, which has been looking to rally fans among retail traders with its expansion into Web3 in 2022.
GameStop did not immediately respond to a request for comment from The Block.
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