GameStop Corp is launching a division to develop a marketplace for nonfungible tokens (NFTs) and establish cryptocurrency partnerships. It surges the video game retailer’s shares 27% in extended trading.
The company is undergoing a revamp. GameStop is asking select game developers and publishers to list NFTs on its marketplace when it launches later this year, the WSJ report said.
The retailer has hired more than 20 people to run the unit which is building an online hub for buying, selling and trading NFTs of virtual videogame collectibles such as avatar outfits and weapons.
GameStop launched its NFT website last year and has been inviting creators to join the platform.