Leading video game retailer GameStop Corp GME Emphasizes plans for the NFT Marketplace as one of the key growth items for the future. After a short delay, the market is booming, with sales volumes already outpacing major crypto platforms.
What happened: GameStop NFT Marketplace launched this week, over 3,000 Ethereum ETH / USD According to Decrypt, sales volume for the first 48 hours has increased.
The company’s 3,167 ETH volume, or about $ 3.5 million, lags behind the leaders in the NFT marketplace. High seasGameStop has already surpassed record high sales on the Coinbase NFT Marketplace Coinbase Global Inc coin..
Coinbase unveiled the NFT Marketplace in late 2021 and saw millions of people on the waiting list. The marketplace was in beta in April and opened to the public in May. According to the report, Coinbase NFT Marketplace has sales volume of 1,704 ETH, or about $ 1.8 million.
According to the GameStop blog GmeddGameStop’s marketplace volume exceeded $ 4 million in the first three days.
At launch, GameStop Marketplace had over 200 collections and over 50,000 NFTs available on the platform.
GameStop previously emphasized that the marketplace launch will take place by the end of the second quarter. This is an estimate that it was close to a hit, but was eventually overlooked.
Related Links: GameStop’s Ethereum L2-based NFT Marketplace Now Available: What You Need to Know
Important reason: GameStop’s NFT Marketplace currently does not yet offer gaming NFTs. This is expected to be one of the key items and reasons for launching the platform.
“Over time, the marketplace will expand its capabilities to cover additional categories such as Web3 games, more creators, and other Ethereum environments,” said GameStop.
GameStop will take a 2.25% commission on the sale of NFTs. This isn’t a lot, but it adds up as sales volume grows. This can happen as more partners and gaming companies join the platform.
In February, GameStop announced a $ 100 million investment Invariant X IMX / USD This will help support the development of game NFTs on the blockchain.
Game NFTs are listed as “coming soon” on the GameStop NFT Marketplace.
The launch of the Coinbase NFT Marketplace came with popular collections added by the owner, including many collections available on other platforms.
GameStop has taken a different path, adding a platform-specific collection to allow new creators to join the space. This strategy seems to be paying off early.
Coinbase’s long-awaited NFT marketplace wasn’t a big hit, so analysts had to revise their expectations of the company.
GameStop’s NFT marketplace has been more successful than many expected, requiring analysts and industry experts to rewrite GameStop’s expectations and potential growth.
GME Price Action: GameStop’s share rose 0.26% to $ 136.56 on Friday morning. Weekly share rose about 7%.
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