GameStop shares have gone up more than 20% after Wall Street Journal reported on its NFT division. The company is planning to create a marketplace for NFTs. It is further mentioned that 20 new employees have been hired for the NFT division.
The marketplace will most likely consist of gaming NFTs such as cosmetics, weapons and characters from existing or upcoming games. As GameStop is planning to launch the NFT marketplace this year, more information will be revealed soon.
In the report, it is also stated that GameStop is planning to sign partnerships with two crypto companies to share technology and co-invest in games using blockchain technologies.