GameStop
GameStop to drop crypto efforts as Q3 losses near $95M
Gaming retailer GameStop says it will no longer focus any efforts on cryptocurrencies, after amounting $94.7 million in net losses in the third quarter and laying off staff from its digital assets department. On a Dec. 7 earnings call GameStop CEO, Matt Furlong, said it “proactively minimized exposure to cryptocurrency” over the year and “does not currently hold a material balance of any token,” adding: “Although we continue to believe there is long-term potential for digital assets in the gaming world, we have not and will not risk meaningful stockholder capital in this space.” Earlier this year the company said it was looking at crypto, along with nonfungible tokens (NFTs) and Web3 applications, as avenues for growth calling these spaces “increasingly relevant for gamers of the fut...
Nifty News: GameStop NFT market goes live, Hong Kong’s NFT concept and more
The nonfungible token (NFT) marketplace for American video game retailer GameStop has officially gone live on Ethereum layer-2 blockchain ImmutableX, all part of the latest Web3 push from the gaming retailer. The pair first partnered in February to build the marketplace offering a $100 million grant for NFT content creators and tech developers before a public beta of the NFT marketplace debuted in July. With the Oct. 31 announcement of the full launch, GameStop’s market will allow for popular Web3 games on ImmutableX such as the role-playing game Illuvium and Gods Unchained to be accessed by users. GameStop has worked to launch a series of Web3-powered products over the past year, with a beta self-custody crypto wallet released in May that integrates with its NFT marketplace. In Marc...
Nifty News: BAYC hodler loses 100 ETH in ‘joke’ domain sale gone wrong
A major Bored Ape Yacht Club (BAYC) nonfungible token (NFT) hodler lost 100 Ether (ETH), worth $150,000, as a result of a joke bid on his own registered Ethereum Name Service (ENS) domain. The NFT whale, who owns 57 BAYC NFTs and goes by franklinisbored on Twitter, minted the ENS domain “stop-doing-fake-bids-its-honestly-lame-my-guy.eth” using an alternate wallet on Wednesday. The move was a part of a meme discussed with other NFT collectors in the community, in which he was attempting to trigger the EnsBidsBot account to tweet about a hefty 100 ETH bid on an ENS domain, essentially to mock the purpose of such Twitter accounts. What phrase or meme do you want me to have the ens bot tweet out as a .eth address with a 100 WETH bid? Lol I would have to mint the ENS address myself too. — Frank...
Gamestop partners with Immutable X for NFT marketplace, announces $100M grant for creators
On Thursday, iconic brick-and-mortar video game retailer GameStop announced a partnership with layer-2 nonfungible tokens, or NFTs, Ethereum (ETH) scaling solution Immutable X to develop GameStop’s upcoming NFT marketplace. GameStop will utilize Immutable’s technology for trading and minting NFTs. We’re thrilled to announce that @Immutable is taking another leap forward in the gaming & blockchain industry by partnering w/ @GameStop to power their NFT Marketplace: https://t.co/Tase31CBt3 Continue for more… pic.twitter.com/8v6Titg3kq — Immutable | $IMX (@Immutable) February 3, 2022 Immutable developers claim that the new NFT marketplace will be 100% carbon neutral with no gas fees. In addition, both Immutable and GameStop will launch a $100 million grant program denominated i...
HBO Developing GameStop Stock Movie with Billions Co-Creator, Blumhouse
If you ask the folks on r/WallStreetBets, the saga of taking GameStop to the moon in order to stick it to hedge funds shorting the company’s stock isn’t nearly over. But even in the midst of this social media-based financial smack down, Hollywood is already seeing its own dollar signs. The latest studio seeking to adapt the real-life story is HBO, which is developing a project with Billions co-creator and financial journalist Andrew Ross Sorkin, former HBO Films head Len Amato, and Jason Blum’s Blumhouse. The Hollywood Reporter has it that the cable network is currently in search of a writer to pen the film. The outlet also continually refers to the production as a “project,” shying away from specifying if it might be a movie, TV show, or limited series. Any of those forms might work for t...
Game On?: A Simple Guide to What’s Going On In The Stock Market
Source: NurPhoto / Getty By Shawna Mizelle In the past few days, the buzz around GameStop, AMC, and Reddit has dominated the news cycle. One might’ve noticed several people online discussing investing in stocks and pondered, “What’s going on?” Some individuals possibly saw someone post about their return on investment from the stock market and proposed the question, “How do I get in?” The most daunting question at hand is this: how does a stock like GameStop, which was valued at $20 just two weeks ago, become valued at over $300 seemingly overnight? Here’s a recap of everything you need to know about the whirlwind of a stock market that investors have seen this week. What happened? GameStock was the most traded company in the stock market on Tuesday (Jan. 26), but the bullish run-up ...
Ja Rule Blasts Robinhood After GameStop Stock Debacle
Source: Noam Galai / Getty In the midst of the explosion of stocks and investing this week, an unexpected champion of the people emerged. Ja Rule took to Twitter to blast Robinhood for shutting down individual investors from buying up GameStop and other stocks, and he elaborated on his position via a new interview. The veteran Queens rapper has been active on Twitter this week, urging his followers and fellow investors to “hold the line” as the refrain went during the GameStop and AMC investment craze over the past few days. “Yo this is a f*cking CRIME what @RobinhoodApp is doing DO NOT SELL!!! HOLD THE LINE… WTF,” Ja Rule tweeted Thursday morning (Jan. 28). A scan of his Twitter feed shows that his passion for investment isn’t new as he’s been using Robinhood since 2014 and believes in th...
GameStop Stock Rises Due To Reddit & Robinhood Users, Wall Street Shook?
Source: Johnny Louis / Getty Back in 2019, GameStop announced that it was closing hundreds of stores nationwide as the need for a brick and mortar video game store started to dwindle. This week, the retail chain is experiencing a boom in stock value, and what makes this unique is that individual investors have somehow bent the market to their will. There may not be any place on the Internet to avoid news or chatter surrounding the huge gains made by the Grapevine, Texas company. Like many other global entities, GameStop’s earnings and impact within its industry were impacted by the coronavirus pandemic with retail sales slowing to a near halt as digital sales continued to boom. On Monday (Jan. 26), smaller investors congregating on Reddit and using the Robinhood app resulted in a short squ...
Next-Gen Console Leasing?: GameStop Launching Payment Plans For PS5 & Xbox Series X: Report
Source: Johnny Louis / Getty Times are hard, and money is an issue for a lot of people, BUT if you still want to get your hands on a PS5 or Xbox Series X, GameStop is here to help. Venture Beat is exclusively reporting that a series of internal documents indicate that GameStop is offering consumers an interesting way to get their hands on next-generation consoles. The video game retailer is reportedly considering rent-to-own, installments, and direct layaway plans to help ease the pain of copping the pricey PS5 or Xbox Series X. According to the documents, the installment plans will be split up into four payments over six weeks with no interest and will be offered through third-party companies like Klarna and Quadpay. If the customer chooses to go with the layaway option, it will see...
