Gaming retailer GameStop is building an NFT platform on Ethereum
May 25, 2021, 5:44PM EDT
1 min read
GameStop has quietly unveiled a new web portal for a non-fungible token (NFT) platform.
"We are building a team" the page declares, stating:
"We welcome exceptional engineers (solidity, react, python), designers, gamers, marketers, and community leaders. If you want to join our team, send your profile or something you've built to: [email protected]."
The exact scope of the project is unclear, though prominently featured on the page is a link to an Ethereum address, indicating that GameStop's team will use Ethereum as a technology base.
The smart contract code declares "Game On Anon" and links to GameStop's NFT page and indicates that potential GameStop-released NFTs will utilize Ethereum's ERC721 standard. The code also points to a dedicated token, GME.
As for the intended audience for whatever NFT offering emerges from GameStop's team, an animated image on the page states: "Power to the players. Power to the creators. Power to the collectors."
Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.