GameStop Launches Wallet for Cryptocurrencies and NFTs (bloomberg.com) 21
GameStop said on Monday it has launched a digital asset wallet that will allow gamers to store, send and receive cryptocurrencies and nonfungible tokens. From a report: The digital wallet will be able to be used across decentralized apps, which run on a blockchain and aren't controlled by a central authority, without players having to leave their web browsers, the company said in a statement. The GameStop wallet is a self-custodial Ethereum wallet, meaning the user controls the keys to their assets, not a third party. The wallet extension can be downloaded from Google's Chrome web store and will allow transactions on GameStop's NFT marketplace, which is expected to launch in the second quarter of the company's fiscal year.
so... (Score:2)
Two years too late. (Score:2)
I'm assuming that's a rhetorical question, because we definitely know the answer.
Impeccable Timing (Score:2)
No notes for the GameStop executive team, you have your finger on the pulse. Get in while it's hot!
Oh sure. (Score:2)
Re: (Score:1)
Get a free fidget spinner with every new wallet account. Do an ice bucket challenge and win a free cronut!
That's it? (Score:5, Insightful)
GameStop had a once-in-a-lifetime stock value infusion, and this is what they come up with?
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Well, it's not like pouring money into their core business of selling physical copies of games is going to do anything for them.
I sort of get it, they're moving from selling one kind of digital asset where they can't compete with existing online marketplaces, to another where they might take advantage of their meme status.
Who knows, maybe the NFT goldrush still has a couple of years in it before the whole thing collapses.
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We're talking about a business who in their greed became one of the prime movers in making their own business (physical games retail) obsolete despite having the leverage to slow down and limit it. Console makers were and are reliant on them for hardware sales and hence bent over a figurative barrel, but with their attempt to cut out game publishers (from whom console makers actually make their money) trough a hyper-aggressive push for second hand sales, they succeeded i
The Devil's Advocate (Score:1)
We're talking about a business who in their greed became one of the prime movers in making their own business (physical games retail) obsolete despite having the leverage to slow down and limit it.
Nope. Sorry buddy. Yes they've made some shitty choices with their stores. (Reducing selection, filling the half of the store with worthless junk, trying to get into the figurine market, etc.) But greed isn't one of them. And NO, just because you can sell that copy of "X the Super Fabulous Edition With Knuckles", for $100.00 on a digital sales front that has a fraction of the operating costs of retail does not mean you got ripped off, or that Gamestop is greedy. It means you get less money because that mon
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Nope. Sorry buddy. Yes they've made some shitty choices with their stores. (Reducing selection, filling the half of the store with worthless junk, trying to get into the figurine market, etc.) But greed isn't one of them.
Gamestop dedicated all the prime floor space to second hand copies, which usually have more than twice the margin compared to new copies, of console games years before console game downloads became wide spread. Over the years they've gotten harder and harder into aggressively pushing (as in sales staff gets written up if they don't pester anyone buying a new copy if they have second hand ones available) second hand copies with their so-called "circle of life" program where the same copies rotate between the
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This is all about cutting out game publishers, the actual console makers' bread and butter, to as high of a degree as possible.
Guess what? The game publishers already got paid for those copies. Gamestop nor anyone else can make additional copies from them. So only the copies that were owned previously, PAID THE PUBLISHER'S ASKING PRICE IN FULL, can be resold. If the publishers have a problem with that they can either increase their initial asking price, or lobby congress to repeal the First Sale Doctrine. Good luck with the latter though. You'll have every consumer rights advocate against you instantly. In addition to several econ
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Game license NFTs? (Score:3, Funny)
Blockbuster... (Score:2)
All failing business should start dealing in crypto and NFT.
NFT is the greed test (Score:2)
If the company is doing it, you know they have more greed than good sense.
Requires a management review (Score:2)
Management at Game Stop needs to do a review and fire everyone involved with this decision.
It clearly demonstrates a propensity for larceny and sociopathy amount the ranks.
They already have precarious business model.
At least before, you got something for all the money you spent.
This distraction can topple them, and drive away the few customers loyal they have left.
A fool (Score:2)
More scamming in that market of no value items like NFT's that are crashing and coins that everyone's trying to get rid of. If you want to keep your money and earn money look elsewhere .. you know what they say about a fool soon to to parted with his money.