Web3 Watch: GameStop says goodbye to NFT marketplace
GameStop is closing its NFT marketplace on February 2 due to “the continued regulatory uncertainty of the crypto space,” the gaming giant announced via a website banner.
GameStop removed support for its NFT wallet in November for the same reason. social media platforms last week
Read more: X reportedly no longer supports NFT profile pictures
gamestop started Molestation An NFT Marketplace in May 2021 – The price of a struggling stock soared shortly after a retail-led short squeeze. The platform launched in July 2022 and became a top ten marketplace that summer. It saw $6 million in volume in its first two months.
However, the attraction was not sticky: the site has seen a volume of almost $40,000 in the past month.
As part of its earlier NFT push, GameStop received a grant from Gaming Layer-2 Immutable to establish a $100 million gaming NFT fund. Gamestop sold A large number of its tokens from the deal.
there was also gamestop Integrated With layer-2 looping.
Notably, Blockworks reported this week that despite a decline in 2023 for NFTs, gaming is a promising sector for the future of utility-focused NFTs. GameStop apparently doesn’t agree.
Read more: NFT volume to fall to $14.5 billion in 2023: CoinGecko
Austin-based gaming platform Nifty Island released the beta version of its open-world game on Wednesday. The game gives users islands where they can play as 3D renderings of their NFT avatars.
Nifty Island is the latest Web3 game attempting to bring utility to NFTs – in this case, allowing NFT holders to port their collectibles into the metaverse.
“Just as you might wear your favorite shirt to express yourself or bring your lucky glove to play baseball with friends in the real world, I think the same applies in gaming, and we We are on the cusp of a paradigm shift that will change the way we play,” Nifty Island co-founder Zunk wrote on X after the release.
Nifty Island’s Web3 open-world game comes on the heels of Warner Bros. Discovery supporting the creation of a Ready Player One-style metaverse – a once-popular concept in crypto gaming that has fallen somewhat out of favor recently.
Read more: Web3 Watch: Ready Player One-style metaverse launches with Warner Bros. support
An interesting statistic:
- The price level of Pudgy Penguin NFTs has nearly doubled since the beginning of January, reaching an all-time high of nearly $47,000 per NFT price level.
Also note:
- Heist film Lift starring Kevin Hart released on Netflix. plot prominently Involved A high value NFT seller.
- Animoca Brands is launching a chess-based strategy game called Anichess in partnership with Chess.com and chess world champion Magnus Carlsen.
Don’t miss the next big story – join our free daily newsletter.
Source: blockworks.co
