GameStop reports fourth-quarter net loss exceeding 100 million US dollars, CEO confirms during financial report conference: NFT platform to launch mid-year.

The long-established U.S. game retailer GameStop, after experiencing a loss of over a billion dollars in the fourth quarter of last year, announced during its financial report conference that it plans to launch an NFT platform by the end of the second quarter of 2022, aiming to generate additional revenue growth.

This is not GameStop's first foray into NFTs, as it launched the website platform "GameStop NFT" as early as May last year. In January of this year, it established an NFT and Web3 gaming division and formed a strategic partnership with Ethereum Layer 2 scaling solution Immutable X.

From last May until now, GameStop has not disclosed many details and is still in the talent recruitment stage. The supply of GME tokens created at that time is still zero, indicating seemingly no progress, except for Immutable X being listed as a strategic partner on the platform.

GameStop CEO Matt Furlong stated in an earnings call:

GameStop has invested in a dedicated blockchain team to drive our NFT market development plan, expected to launch by the end of the second quarter. We see tremendous long-term potential in the over $40 billion NFT market, and our unique connection with gamers provides us with a distinct opportunity in the world of Web 3.0 and digital assets.

In early February of this year, after GameStop's collaboration with Immutable X, it was discovered that they sold half of their gradually vested IMX tokens to the market in less than a day.

This event has sparked both positive and negative opinions, with some criticizing GameStop's selling behavior, while others see it as a part of corporate financing and cashing out.