GameStop takes its crypto dream a step ahead with a new partnership with FTX US
FTX US joins hand with GameStop to promote e-commerce and marketing initiatives in the crypto space
By Shashank Bhardwaj
The stocks of GameStop Corp. rose nearly 12 percent in the extended session on Wednesday, September 7. This came after the video game retailer announced a partnership with Sam Bankman-Fried’s USA-based crypto exchange FTX US. The collaboration aims to bring more customers to the crypto world. The two further intend to collaborate on online marketing initiatives. The rise in GameStop stocks is also thought to be influenced by the company's recent report on a 'smaller-than-expected' quarterly loss.
On September 7, the company said in a public announcement, "GameStop Corp. (NYSE: GME) ("GameStop" or the "Company") today announced that it has entered into a partnership with FTX US ("FTX"). The partnership is intended to introduce more GameStop customers to FTX’s community and its marketplaces for digital assets."
GameStop has established a $100 million fund denominated in Immutable X's IMX tokens in order to attract NFT creators. The company eventually intends to host billions of low-cost in-game digital assets and NFTs. Digital real estate and in-game skins are examples of these. In this manner, the company hopes to generate a significant new source of revenue.
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Indian companies storm the metaverse and NFT spaceRead More..
Coinbase is producing a movie trilogy on Bored Ape NFTsRead More..
Multiple Indian Twitter accounts hacked, NFT content postedRead More..
German police shut down $1.3 billion illegal darknet firmRead More..
Meta tests sale of virtual goods in metaverseRead More..
Bitcoin 2022 Conference: Bitcoin Maximalists attack national currenciesRead More..
Binance Gets In-Principle Approval to Operate as Crypto Broker in Abu DhabiRead More..
EU limits Russians' crypto investments to 10k EurosRead More..
Coinbase suspends UPI payments in India three days after launchRead More..
From KFC to Tesla, Dell: Crypto-curious corporations struggle to find right recipeRead More..
In Texas, crypto miners turn to solar powerRead More..
South Africa concludes technical Proof-of-Concept for its CBDC settlement systemRead More..
Terra buys $200 million in AVAX for reservesRead More..
Bitcoin will remain as a standard: Chess world champion Garry KasparovRead More..
Coinbase launches in IndiaRead More..
Meta working on virtual money 'Zuck Bucks': reportRead More..
Germany closes Russian darknet marketplace HydraRead More..
Britain paves way to accept stablecoinRead More..
Crypto industry reels from $600 million hackRead More..
NFT of Nelson Mandela's arrest warrant auctioned for $130,000Read More..
Bank of England calls for tighter regulation of cryptocurrenciesRead More..
ECB's Lagarde 'concerned' about crypto use to dodge Russia sanctionsRead More..
Crypto provides fix for some in crisis-hit AfghanistanRead More..
Bitcoin to the rescue: Cryptocurrencies' role in UkraineRead More..
Digital art in spotlight as Dubai makes crypto hub bidRead More..
G7 looks to thwart cryptoassets use as Russian sanctions dodgeRead More..
Can cryptocurrencies give Russia, others breather from economic sanctions?Read More..
Cryptocurrencies enter Russia-Ukraine conflictRead More..
Russia seeks to regulate cryptocurrenciesRead More..
Donald Trump's NFT collection to laud his own presidencyRead More..