In a rarity for dying companies, GameStop got a second chance at life thanks to Redditors who manipulated the company’s stock price, put enough money into it to be on international news and even earned a biopic in the form of Dumb Money.
What GameStop did with the money from this investment seemed quite an odd maneuver, as the company opened its own NFT marketplace, which has since been shut down. As reported by Decrypt, you can no longer buy and sell NFTs through this marketplace. However, since the NFTs are minted on the blockchain, you can open and sell them elsewhere.
Four months earlier, GameStop also closed its NFT wallet. It is unclear why this staggered approach was taken, but it is certain that GameStop – like many other companies that drank the NFT Kool-Aid – are getting out now that they have realized how little money there is to be made from it at this time.