Skip to main content

GameStop’s New FTX Partnership Could Boost Web3 Onboarding

 

GameStop’s New FTX Partnership Could Boost Web3 Onboarding

  • FTX, a crypto exchange platform, announced a new partnership with GameStop, following the July launch of its own NFT marketplace.
  • According to GameStop's official statement, the partnership will introduce FTX's Web3 suite of services to GameStop's growing Web3-savvy customer base - and crucially, FTX also offers an NFT marketplace.
  • Additionally, this partnership will offer FTX gift cards at select GameStop locations.

Why it matters

Amid an industry-wide shift towards digital game marketplaces, GameStop's NFT marketplace has received middling to sometimes overwhelmingly negative feedback. It is well known by PC gamers that most laptops and pre-built desktop PCs have been built without disk drives for a long time. As part of its strategy to onboard its customers to the Web3, GameStop released its own non-custodial crypto wallet before launching its NFT marketplace.

What has been the result of GameStop's Web3 bet? Sales generated by GameStop's NFT marketplace exceeded $7 million within the first few days. As of this writing, the amount has exceeded $20 million. In the NFT marketplace, however, sales have recently slumped, including a recent 24-hour period when just $4,000 worth of sales were recorded in the marketplace, according to a Cointelegraph report.

What’s next

The mainstream gaming community has long been critical of Web3 technologies, particularly NFTs. Gamers, however, are generally considered to be the best ambassadors for blockchain.

As the debate over play-to-earn (P2E) versus play-and-earn rages on in the blockchain gaming industry, more established players may be tasked with the task of onboarding new users into Web3. It appears that most of GameStop's decision-makers still feel that way, despite the company's continued commitment to Web3 infrastructure.

Labels:

Comments

Post a Comment

Popular posts from this blog

Blue-Chip NFT Holders Are Now Eligible for an IRL Rewards Program

    Image Source Google Images  A Wednesday press release announced AssetDash's launch of DashDeals. Similar to AMEX Rewards from Web2, a rewards program based on assets. With DashDeals, you can receive rewards instantly for DeGods NFTs, CryptoPunks, Bored Apes, Moonbirds, and other high-end NFT projects. In addition to iTunes, Nike, and GameStop gift cards, NFT holders can enjoy Apple gift cards, Nike gift cards, GameStop gift cards, and Discord Nitro subscriptions. Why it matters NFTs are no strangers to the promise of utility. There are even some who argue that imposing utility on an NFT project can hurt its quality. For new NFT projects entering the market, utility remains a top priority - particularly for corporate-backed projects. However, most buyers of things expect to be able to use them after they purchase them. As a result, numerous projects have served as membership passes in the past. There will be a message saying, "Buy our NFT, and you'll get X p...
Post a Comment
Read more

A Guide to Magic Eden: A Young Marketplace Making Its Mark

There is a possibility that NFTs might not have gained recognition without the Ethereum blockchain. In the early days of ETH, it appeared Vitalik Buterin's brainchild would always be the go-to platform for nonfungible token sales. However, the NFT ecosystem has expanded far beyond the scope of a single blockchain since the token craze of 2021. With new marketplaces popping up almost every quarter, NFTs are available on virtually every major chain today. In the NFT space, it can sometimes be evident which entities are running sprints and which are running marathons. There is, however, a difference between each of these platforms. You have just discovered Magic Eden, a shiny new marketplace that does so much more than facilitate transactions. This new platform immediately caught the attention of the greater NFT community with its down-to-earth brand voice and fully-integrated Web3 technology. Since Magic Eden began operations a year ago, it has become a serious competitor in the NFT ...
Post a Comment
Read more

Can a Major Esports Network Convert NFTs’ Biggest Detractors?

There's more to NFTs than just the dynamic PFP projects you might stumble across when browsing social media. For many, the traditional view of NFTs is rooted in a discipline very different from the realm of arts: play-to-earn (P2E) games . This is particularly true for Asian countries, where P2E games like the struggling Axie Infinity were the most popular in the recent study conducted by CashNetUSA that analyzed the top sought-after NFTs according to region.  Then there's TechStorm , a Singapore-based digital esports platform that intends to act as an international hub on Web3, which will facilitate collaborations ranging from gamesfi (gaming along with decentralized financing) droppings of NFTs DAO formation, and other things, according to the latest press release . Asia's burgeoning NFT market To develop Asia's Web3 services, the geographical location is crucial. CashNetUSA's analysis found Singapore as the most fascinating country for NFTs, per aggregated user ...
Post a Comment
Read more