GameStop moving forward with cryptocurrency plans
By Bob Garcia
The video game retailer hopes that crypto can help it turn business around
US video game, consumer electronics, and gaming products retailer GameStop reveals more of its plans to include non-fungible tokens (NFT) in the upcoming market. Whatever industry they belong to, big companies are starting to get their feet wet in the crypto space, and it seems to have a very promising future.
2021 has been an interesting year for this company, kicking off early on when in January the Reddit forum r / wallstreetbets sparked a GameStop stock trading war with Wall Street hedge funds. By that time, Goldman Sachs executive David Kostin said that “if the contraction continues, the whole market could collapse.” Even though the bankruptcy was a tough blow to take, GameStop has been able to remain relevant, and shares that traded at $19.26 per unit at the end of last year are up a further 655.73% today since that day.
The company has done so well that in late May, it decided to unveil a new NFT website, suggesting that GameStop was quickly getting involved in the crypto world. Sometime before this announcement came, GameStop revealed that it was hiring a security analyst with expertise in blockchain, cryptocurrencies, and NFT. Although at the time, the portal had not provided much information, today, GameStop claims to be looking for a senior software engineer focused on NFT.
“GameStop is looking for a senior software engineer to join our NFT / Blockchain team,” the company’s job listing notes. “This role will be remote and will collaborate with a team of engineers, product managers, designers, and business partners distributed across the US. In this role, you will help design, build and maintain highly scalable services and core API components, powering products and features that delight millions of GameStop customers.”