Crypto: a video game giant wants to market special gift cards in stores

News hardware Crypto: a video game giant wants to market special gift cards in stores

This company specializing in the distribution of video games pushes the adoption of web3 even further. After launching its own NFT platform, the American gaming giant is teaming up with a crypto behemoth FTX. Among the goals, the company wants to sell crypto gift cards directly in stores.

GameStop collaborates with the crypto platform FTX

The American video game distribution giant continues to affirm its enthusiasm for blockchain technology. This Wednesday, Micromania’s American counterpart announced an unprecedented partnership with the cryptocurrency purchase and resale platform, FTX.

FTX is one of the most popular crypto exchange platforms. Ranked in 3rd position behind Coinbase and Binance, this exchange continues to grow with this new initiative, despite the winter in the crypto sector which has persisted since June.

This collaboration comes as part of the democratization of cryptos, in order to “introduce more GameStop customers to the FTX community and its marketplaces for digital assets”. In this sense, the alliance should take several more or less surprising forms.

Indeed, following this partnership, Gamestop intends to offer FTX gift cards in several of its stores located in the United States. Concretely, for a few dollars, customers will be able to buy a card of a greater or lesser amount in order to credit their FTX account to buy cryptos directly on the platform.

GameStop marks a new milestone in the adoption of web3. Since the beginning of the year, the company has been exploring new possibilities linked to these new technologies.

GameStop: a gaming giant merges with the crypto and NFT sector

The giant GameStop is not at its first attempt with these new uses of web3. Since the beginning of the year, the company specializing in video games has been exploring new horizons.

In this logic, the company unveiled its ambition to create a wallet dedicated to the second cryptocurrency: Ethereum.

In addition, GameStop released its own NFT marketplace last July. Despite declining interest around NFTs, the initiative ended up being a success with more than 2 million trading volumes on launch day.

These various actions on the part of GameStop seem, for the moment, to have a positive effect on the financial health of the company. Indeed, at the end of the health crisis, the video game distributor experienced difficult times, particularly following the GameStop affair, which highlighted the manipulation of its prices, among other things. Therefore, it would seem that the use of new web technologies is an ideal opportunity to soften the fall in its share price or the recent massive layoffs.

GameStop seems to be on target since by helping crypto giants like FTX, the company has seen its share price rise significantly.

With this announcement, GameStop confirms its appetite for web3 despite the bearish context. Thus, we imagine that the next step could be to offer customers to pay for games in crypto or even to develop a cryptographic token signed GameStop, to be continued…

Leave a Comment