GameSop divorcing with Cryptocurrencies. But why? – Katoch Tubes

Its Game over  for GameStop

About GameStop

Founded in 1984, GameStop is an American video games and consumer electronic company who recently ventured into NFT market.

Aligning with cryptos

During the crypto bull run. GameStop took steps to connect with web3 users by launching its own NFT marketplace.

NFT partnerships

The company moved ahead to partner with Immutable X, A layer 2 blockchain on Ethereum to launch web3 gaming initiatives.

The Financial Loss

GameStop no longer aims to expand in crypto and NFT space after it registered $94.7 million loss for the third quarter.

Divorcing with Cryptos

The company laid off all its staff in the digital asset section and parted ways with the crypto industry in the down market.

Dark Days for Cryptos

Crypto market has been badly hit this year. After reporting back to back bankruptcies & fall in marketcap. There's no sign of recovery.

Immutable X Chain

Learn more about Immutable X NFT friendly layer-2 chain.

Learn more

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