Included in the release of today’s GameStop Q4 2021 financial results was the reveal of GameStop’s intended launch deadline for the incoming GameStop NFT Marketplace.
GMEdd.com first unearthed the existence of GameStop’s Official NFT project in May 2021 upon discovering a website that didn’t detail much besides a potential slogan for the project, and ever since then investors have speculated what GameStop NFT entails.
Prior to this, digital breadcrumbs had led us to that same point, detailing how Loopring’s technology could power a bridge of traditional e-commerce and blockchain and engineer the revolution of gaming.
With Immutable revealed as a technology partner in the potentially groundbreaking gaming marketplace in February, progress has undoubtedly been expedited.
GameStop has announced an expected launch date of the NFT Marketplace by close of Q2 2022 (July 31, 2022).
GameStop reported they are on a strategic path to fully leverage the company’s unique position and brand in gaming. The strategic plan is designed to optimize the core business while at the same time, pursuing strategic initiatives to transform GameStop for the future by expanding the company’s addressable market and product offerings to drive growth in the gaming and entertainment industries.
GameStop states their focus is on transforming into a customer-obsessed technology company to delight gamers, and is actively focused on:
Establishing ecommerce excellence.
GameStop aims to be the leading destination for games and entertainment across all channels and will scale up ecommerce operations to make the most convenient solution for customers. This includes app & site redesigns, improvements in fulfillment and delivery times, better product availability across all channels, and a further improved customer service experience.
Expanding selection to deliver a market-leading offering in gaming & entertainment.
Continue investing in expanding product offering to relevant categories for our customers, including becoming a leader in PC gaming, virtual reality, and other gaming products.
Leveraging existing strengths and assets.
Grow GameStop’s presence in the gaming community and increase market share through enhancing the value of the loyalty program and Game Informer assets while also expanding the scope of the buy, sell, and trade business to support expanded offerings.
Investing in new growth opportunities.
As the company scales and expands core offerings, GameStop will simultaneously invest in additional growth, including blockchain, digital assets (including non-fungible tokens, Web 3.0 technology, and new destination formats for retail stores.
GameStop states they believe these future transformation efforts are an important aspect of the company’s continued business to enable long-term value creation for company shareholders.
With Ryan Cohen insistent on not talking a big game, little remains known about GameStop’s NFT Marketplace rollout strategy.
“We know some people want us to lay out a whole detailed plan today, but that’s not gonna happen.You won’t find us talking a big game, making a bunch of lofty promises, or telegraphing our strategy to the competition. That’s the philosophy we adopted at Chewy.” — Ryan Cohen in June 2021
On March 4th, Robbie Ferguson, the Co Founder and President of Immutable, shared the first phase of the intended rollout on Reddit.
Robbie shared this graphic on Reddit.
Robbie also stated that Immutable is going to be dropping content over the next few weeks diving into what integration will look like, details on Immutable and GameStop’s vision for the space, and answering questions fans and investors and might have.