GameStop has officially announced it will shut down its short-lived NFT marketplace on February 2nd, 2024.
According to a brief new message on GameStop’s NFT marketplace site, customers won’t be able to buy, sell or create NFTs after that date.
Fortunately, they will remain on the blockchain, so the products are not permanently lost. Users will be able to access and sell them on other platforms.
GameStop has cited “the continuing regulatory uncertainty of the crypto space” for their decision to shut down their marketplace.
The GameStop NFT marketplace appeared to struggle early on, so the move to wind things down should come as no surprise.
In fact, GameStop has tried to find its footing in just about any marketplace, let alone NFTs. GameStop’s CEO was fired in June 2023.
So, mentioning uncertain regulations might simply be damage control. It partly sounds like a form of altruism.
Many physical stores are striving to keep up with modern gaming culture. Physical media seems like more of a retro niche these days.
Even Best Buy has recently shut down support for new Blu-Ray sales online or in-store, though it’s unclear if games will follow. At least, not yet.
But GameStop should still have plenty of brand recognition. And GameStop also seems open to bold new moves, however ill-fated. So, it will be interesting to see what the company invests in next.
NFTs have been somewhat divisive among gamers, but they remain quite popular, nonetheless.
Last year, Ubisoft licensed a series of Assassin’s Creed NFTs with Integral Reality Labs. Electronic Arts and Nike also reached a deal to bring Nike NFTs into future EA Sports titles.
Even PlayStation has featured digital collectibles as challenge rewards. It seems GameStop just couldn’t quite find the right approach for NFTs.
For more on the latest gaming news, you can read about the new STALKER 2 images that were just released on the Epic Games Store.