By
Mayowa Adebajo
April 16th, 2024
GameStop is moving towards the direction of NFTs, another indicator that the company is eyeing the Metaverse.
It appears electronics retail company GameStop Corporation (NYSE: GME) is looking to make its debut into the Metaverse, according to a series of job listings on the company’s website. The job listings show that GameStop is seeking specialists in the non-fungible token (NFT) ecosystem. Additionally, the electronics retail company is looking to build an Ethereum-based Web 3 arm, as stated in the job listings.
GameStop Enters the Metaverse with Job Openings
The job openings posted by GameStop include the director of product marketing (NFT platform). The retail company further moves towards the Metaverse as it seeks “product owner- head Web3 gaming”. GameStop also said it is looking for directors of product marketing in the NFT space. Also, the job listings showed that GameStop is also hiring engineers to work for its NFT platform as well. The retail company posted all the job openings on the 25th of October.
GameStop seeks these talents to stay relevant in the rapidly increasing NFT market. Specifically, the company seeks expertise in the Ethereum blockchain and the NFT space. In the Web3 job posting that revealed GameStop move into the Metaverse, the video game company noted:
“GameStop is looking for a unique individual who can help accelerate the future of gaming and commerce… An ideal candidate will have experience across several domains in gaming, content creation, partnerships, game design/development/mechanics, and a general understanding and experience with Ethereum, NFTs, and blockchain based gaming platforms.”
The NFT ecosystem has taken an upturn since the beginning of the year as the market expands. Between January and now, several prominent names and celebrities, including artists and athletes have debuted into the NFT market. In the same period, GME has soared nearly 844%. Also, NFT sales increased about $2.5 billion in the first half of 2021, up from below $14 million recorded in the first year.
GameStop’s NFT Platform
The electronics retail company is in the transition process from traditional physical stores to a digital model. GameStop is moving towards the direction of NFTs, another indicator that the company is eyeing the Metaverse. In May, GameStop announced that it would commence NFTs development. To that end, the company launched a special website for its NFTs- nft.gamestop.com. The website features a gaming console and an Ethereum logo. Also, GameStop wrote on the website that it is building a team and is welcoming engineers, designers, gamers, marketers, and community leaders.
Currently trading at a premarket trading price of $179.42, GameStop’s stock has surged a whopping 1,301% in the last twelve months. However, GME stock has been recording losses for the last three months. The American video game company has shed 0.39% in the last three months and another 0.43% over the past month. In the last three days, GME dropped nearly 5%.