GameStop is getting out of the NFT business.

About a year and a half after launching its NFT marketplace, publicly-traded video game retailer GameStop is saying goodbye to its platform, which supports gaming NFTs and other collectibles across Immutable X and Loopring, both Ethereum scaling networks.

“GameStop has decided to wind down our NFT marketplace due to the continuing regulatory uncertainty of the crypto space,” a message on the marketplace’s website reads, adding that the platform will no longer be operating as of February 2 this year. Because the NFTs were minted on blockchains, however, they can be accessed elsewhere and bought and sold through other marketplaces.

Roughly four months ago, GameStop announced it was killing its NFT wallet for much the same reason. GameStop also told traders that news via the same method: a pop-up message on its marketplace’s site. It’s unclear why GameStop didn’t shut down both products at the same time, instead choosing to stagger its departure from crypto.

GameStop first signaled plans to engage with NFTs in 2021, and then in January 2022, it
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Author: Kate Irwin

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