GameStop NFT Marketplace To Close Next Month

Video game retailer GameStop have announced the closure of their NFT marketplace, effective February 2.

This follows the sunsetting of their crypto wallet in August, with the Reddit darling citing “continuing regulatory uncertainty” as the main factor behind the decision.

The #GameStop NFT Marketplace is winding down

We would like to thank @GameStop for choosing Loopring L2 as an integration partner. It was a pleasure working with the team there

Creators: the future doesn’t stop here. Loopring L2 has become a home for amazing NFT artists,… pic.twitter.com/B6H57kUDBg

— Loopring💙 (@loopringorg) January 12, 2024

Closing GameStop NFT

GameStop NFT, which supports NFTs on Ethereum Layer-2 networks Immutable and Loopring, was the last vestige of the company’s presence in web3, after the GameStop Wallet closed in August.

The gaming retailer had a brief but notable presence in web3. Launching in July 2022, GameStop NFT was rumoured to have a 20+ strong team, and established a $100mil token fund with Immutable – albeit dumping almost 50% of the tokens just one day after the deal was struck.

Amid a protracted bear market, reports emerged that GameStop were looking to pull out of web3 as quickly as they’d entered – and now, a mere 18 months after their debut, GameStop NFT is no more.

NFTs purchased through GameStop’s marketplace, both on Immutable and Loopring, can still be bought, sold and traded on other platforms.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.