Back to News

GameStop Eliminates NFT Marketplace, Citing Regulatory Uncertainty

Twitter icon  •  Published il y a 3 mois  •  Hassan Maishera

Gaming retail company GameStop has announced the shutting down of its NFT marketplace, citing regulatory uncertainty for this move.

TL;DR

  • GameStop will shut down its NFT marketplace on February 2nd, 2024.

  • The company cited regulatory uncertainty for this move.

GameStop Shuts Down its NFT Marketplace

GameStop has announced the shutting down of its NFT marketplace. According to the statement on its official website, the company cited the continuing regulatory uncertainty of the crypto space as the primary reason behind this latest development.

The GameStop NFT marketplace was launched on Halloween of 2022 in partnership with Immutable X. The marketplace allowed users to purchase and sell gaming assets. 

This latest development also signified that GameStop has exited the crypto space after the company shut down its crypto wallet last August. The company pointed out that customers can still sell their NFTs on other marketplaces since the assets are hosted on the blockchain. 

It doesn’t come as a surprise as the NFT marketplace failed to make an impact in the market due to competition from leading marketplaces like OpenSea and Blur.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.