Just two years after announcing its very own NFT marketplace, it looks like GameStop will be closing its short-lived NFT project on February 3, 2024. The company cites “uncertainty” with regards to NFT and cryptocurrency among the main causes in the shutdown. According to a statement from the retailer’s website:
“GameStop has decided to wind down our NFT marketplace due to the continuing regulatory uncertainty of the crypto space…”
GameStop’s NFT marketplace first came into fruition back on February 2, 2022 after establishing a dedicated division for NFTs. This includes gaming NFTs and other collectibles via networks such as Loopring and Immutable X. Earlier in 2022, GameStop’s designated CFO for NFT, digital wallet, and crypto initiatives also resigned from her post.
The demise of the GameStop NFT marketplace follows the company’s closure of its NFT wallet service several months back, which met its end mostly for the same reasons. Loopring has likewise acknowledged the closure via its social media page:
The #GameStop NFT Marketplace is winding down
We would like to thank @GameStop for choosing Loopring L2 as an integration partner. It was a pleasure working with the team there
Creators: the future doesn't stop here. Loopring L2 has become a home for amazing NFT artists,… pic.twitter.com/B6H57kUDBg
— Loopring💙 (@loopringorg) January 12, 2024