What the GameStop NFT marketplace means for ecommerce

Whether you’re into it or not, the gaming market has huge potential when it comes to ecommerce and the GameStop NFT marketplace could shine a light on another avenue for that potential.

What’s an NFT?

An NFT is a non-fungible ‘digital’ token. A one-off digital asset that belongs solely to the owner and nobody else, kind of like a painting but in the digital world.

NFTs and the gaming industry

There are a few reasons why businesses should take note of how NFTs could impact the ecommerce landscape for gaming. Firstly, the gaming market is huge and continues to grow at a high rate. These days many games come with digital assets like clothing, weapons, skins and pets and as more publishers release games with micro-transactions, there is bigger potential for the buying and selling of these and that’s where NFT marketplaces can come in.

There is slight resistance though, Ubisoft’s own NFT marketplace caused some backlash and there is still some controversy surrounding non-fungible tokens in general, but as with all new things, there will be hesitancy at first and how gamers perceive a game publisher can also be part of that problem.

GameStop being a retailer could help here, some publishers have pushed gamers to their limits with the sale of digital assets, but an experienced retailer could shine a new light on how we deal with digital sales, and more importantly, push more gaming-related businesses into the NFT game.

The GameStop NFT marketplace

Since their stock surge, GameStop has been looking at furthering its investments. One part of that has been to venture into the world of cryptocurrency in what could be perceived as a smart move. Gamers already at one with the digital landscape could provide a big opening for cryptocurrency and at this point, it’s about trial and error until something sticks.

The GameStop NFT marketplace is yet to launch but they are requesting that anyone interested in joining fills out this form.

Source: https://tamebay.com/2022/01/what-the-gamestop-nft-marketplace-means-for-ecommerce.html