GameStop Is Building an Ethereum-Based NFT Platform, Launches Website
- The Texas-based video game retailer is looking to hire designers, marketers and even gamers for the NFT platform.

The website does not provide additional subpages that explain in-depth the NFT project by GameStop. However, the retailer highlights a brief statement asking engineers, designers, gamers, marketers and community leaders to join their project. Also, it features an ETH cryptocurrency wallet, but the US-listed firm did not specify its purpose.
Overall, GameStop, whose fame skyrocketed early this year as Reddit traders massively short the stock, had been providing some hints on its interest in the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term industry, specifically in the NFTs. In April, the video game retailer was looking for a security analyst with experience in the matter. As of press time, the company has not issued an official statement about its NFT project or further details on the subject, but considering that it will be based on Ethereum, collectibles could adopt the ERC-721 standard.
NFT Overall Sales Have Decreased
Although NFT’s popularity has been rising over the last few months, its pace has slowed down together with the overall crypto bull-run. According to data from NonFungible tokens, the number of daily sales between April 27 and May 26 fell from 34,000 to 20,236 tokens. Furthermore, daily sales’ value dropped to $15.1 million on May 26 from a high hit on May 9 at $176 million.
On the other hand, GameStop’s saga with the short-squeeze witnessed in January keeps making the headlines. In February, Vlad Tenev, Robinhood’s CEO, denied speculation that he was pressured by hedge funds to halt trading in the video game retailer and other stocks.
Today’s GameStop performance in the stock markets has been positive, trading at $242.32 and currently up 15,70 percent, after opening the day at the price of $228.47.
The website does not provide additional subpages that explain in-depth the NFT project by GameStop. However, the retailer highlights a brief statement asking engineers, designers, gamers, marketers and community leaders to join their project. Also, it features an ETH cryptocurrency wallet, but the US-listed firm did not specify its purpose.
Overall, GameStop, whose fame skyrocketed early this year as Reddit traders massively short the stock, had been providing some hints on its interest in the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term industry, specifically in the NFTs. In April, the video game retailer was looking for a security analyst with experience in the matter. As of press time, the company has not issued an official statement about its NFT project or further details on the subject, but considering that it will be based on Ethereum, collectibles could adopt the ERC-721 standard.
NFT Overall Sales Have Decreased
Although NFT’s popularity has been rising over the last few months, its pace has slowed down together with the overall crypto bull-run. According to data from NonFungible tokens, the number of daily sales between April 27 and May 26 fell from 34,000 to 20,236 tokens. Furthermore, daily sales’ value dropped to $15.1 million on May 26 from a high hit on May 9 at $176 million.
On the other hand, GameStop’s saga with the short-squeeze witnessed in January keeps making the headlines. In February, Vlad Tenev, Robinhood’s CEO, denied speculation that he was pressured by hedge funds to halt trading in the video game retailer and other stocks.
Today’s GameStop performance in the stock markets has been positive, trading at $242.32 and currently up 15,70 percent, after opening the day at the price of $228.47.