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Is GameStop's Big Bet on NFTs Going Bust?

Is GameStop's Big Bet on NFTs Going Bust?

GameStop's (NYSE: GME) current turnaround strategy is still pretty opaque to investors, but what we have seen has been primarily centered on non-fungible tokens, or NFTs, the digital ledger technology that imparts an ownership or usage right to a digital asset. In May, the video game retailer launched GameStop Wallet, a self-custodial Ethereum wallet that a user controls and can access without leaving their browser, following that up in July with an NFT marketplace where tokens can be bought and sold. It remains a mystery exactly how GameStop will survive, let alone thrive, in a video game industry increasingly transitioning to digital and downloaded gameplay.