The firm also highlighted that the Immutable X NFT marketplace deal is set to fetch the firm $150 million worth of IMX tokens upon the “achievement of certain milestones.”
GameStop stock up on rumors of Microsoft NFT game partnership
Execs from Immutable X and Microsoft appear to have hinted that the software giant could also be teaming up with GameStop for NFT games.
Gamestop partners with Immutable X for NFT marketplace, announces $100M grant for creators
GameStop will utilize Immutable X’s solutions for trading and minting NFTs on its upcoming marketplace, while partnership discussions with Loopring are still ongoing.
Game Giant Konami Joins NFT Race, To Launch With Castlevania Video Game Franchise
Video Game Giant Konami is launching a NFT auction to commemorate the “Castlevania” franchise. The box will include 14 tokens, audio files, and poster art showing scenes from early Nintendo games. The auction will begin the next week, January 12, 2022.
Konami To Launch With Castlevania Commemorative NFTs
The Castlevania 35th Anniversary NFT collection online portal was unveiled by Konami on Thursday. The collection will be auctioned off on the NFT marketplace Opensea. The NFTs from Konami will pay tribute to the franchise, which began with the Nintendo Entertainment System game “Castlevania” in 1986. (NES).
Scenes from several series entries on the NES and its Japanese equivalent, the Famicom, are included in the NFT collection. Original pixel graphics of Dracula’s Castle, poster art for the Title Boy Advance game “Castlevania: Circle of the Moon,” and audio for the recurring music theme “Vampire Killer” are among the other tokens in the collection.
Related article | Eminem Buys Bored Ape Yacht Club NFT That Looks Like Him For $452K
Unlike other non-fungible tokens from gaming firms, these NFTs will not have any in-game utility.. They’re just trinkets to commemorate the series’ 35th anniversary.
#悪魔城ドラキュラ シリーズ35周年を記念して、過去作品のゲームシーンやBGM、メインビジュアル等を用いたNFTアートのオークション販売が決定しました！NFTは全14種各1点ずつ。詳細は公式サイトでご確認ください。https://t.co/AZXKsPCvm2オークションは1月13日7時より開始予定です！#Castlevania pic.twitter.com/B7dVK5ZYwo
— KONAMI コナミ公式 (@KONAMI573ch) January 6, 2022
ETH/USD falls to $3,200. Source: TradingView
Other Gaming Companies Have Jumped On NFTs
Several game companies are interested in NFTs. Ubisoft, Square Enix, Electronic Arts, and GameStop have all announced plans to deploy NFT products and services, or have tentative plans to do so.
Ubisoft, has previously released NFTs for use in Tom Clancy’s Ghost Recon Breakpoint on a PC (PC). The move was chastised for the NFTs aspects and for the usability of NFT products.
The news from Konami coincides with SEGA’s recent revelation that it may abandon its NFT plans owing to poor reception. SEGA first unveiled its plans for NFT in March 2020.
Konami’s debut into the NFT space has been mocked by some video game players. Conversations regarding the company’s NFTs have been strewn across social media since Thursday.
Related article | How NFTs are Fueling the Anime Community in Japan
Featured image from Shutterstock. Chart from TradingView
GameStop shares jump 26% in after hours trade after NFT division unveiled
GameStop has reportedly hired 20 members for its new NFT division, and is close to securing partnerships with two crypto firms for NFT game development.
GameStop Turn To NFTs, Plans To Launch Marketplace Later In The Year
Video game retailer GameStop has entered the non-fungible token (NFT) space. According to the Wall Street Journal, it is forming a division to develop a marketplace for non-fungible tokens and form cryptocurrency partnerships with crypto firms.
GameStop To Build NFT Marketplace
According to the WSJ story, the company has employed more than 20 individuals to oversee the unit, which is developing an online hub for buying, selling, and trading NFTs of virtual videogame artifacts like avatar clothing and weaponry.
GameStop launched its NFT website last year and has been inviting creators to join the platform.
The company is also close to signing deals with two crypto startups to exchange technology and co-invest in the creation of blockchain and NFT-based games, as well as other NFT-related initiatives. According to the report, the store plans to get into similar deals with a dozen or more crypto startups this year and invest millions of dollars in them.
GameStop restructured its leadership team and board of directors last year, appointing activist investor Ryan Cohen as chairman.This has has pushed GameStop to become more tech-focused.
Related article | Only In Crypto: A Croissant Breaks Down How GameStop & NFTs Will Boost Ethereum
GME Price Rise In Response
Last January, GameStop’s stock skyrocketed after Reddit stock traders began buying the shares. The stock began trading at $18 in 2021 and reached a high of $483 a year later. Multiple congressional hearings and federal agency probes were held as a result of the unprecedented volatility.
The stock of GameStop ended at $131 on Thursday, but has already risen to $172 in after-hours trading.
GME trading at $163 post-market following the news. Source: TradingView
The news propelled GME shares substantially higher after hours in what appears to be yet another short squeeze, which will be great news to longs who had seen the stock price fall.
Some of the industry’s largest companies in the videogame business, including Ubisoft Entertainment, Zynga Inc., and Square Enix Holdings Co., have started or announced plans to sell NFTs in recent weeks. However, some industry leaders and players have expressed reservations about the value of NFTs and the motivations of their developers.
In light of the COVID-19 pandemic’s impact on GameStop’s physical storefronts, the WS Journal’s report presented the GameStop NFT strategy as one targeted at increasing the company’s overall financial performance.
Related article | Why was 2021 an important year for NFT?
Featured image from iStockPhoto, Charts from TradingView.com
Redditors cheer as GameStop assembles team of NFT experts
“Future creators won’t just build games but also the components, characters, and equipment. Blockchains will power the commerce underneath,” Gamestop’s Head of Web3 Gaming job listing reads.
SEC takes action against two meme stock wash traders
The SEC asserts that the defendants unlawfully gleaned more than $700,000 through a wash-trading scheme that targeted exchanges offering market maker rebates.
Hedge fund that shorted GameStop closes as $1.13B GME stock offer completes
GameStop has completed a stock offer worth nearly $1.13 billion to fund growth, while a hedge fund that incurred losses from shorting GME is closing down.
Nifty News: GameStop’s NFT market, NBA star LaMelo ‘mints career’ on NFTs … and more
Gamestop may be working on its own NFT marketplace, while Rookie of the Year candidate LaMelo Ball is set to drop 500 Dynamic NFTs.
Watch out as r/Wallstreetbets finally allows crypto threads… within limits
Reddit group r/wallstreetbets will allow a limited amount of crypto discussion, as it seeks to accommodate members in the community without detracting from its stock market focus.
‘Castle’ production company’s new TV crypto comedy to drop an ep as an NFT
A crypto-funded TV comedy series intends on releasing a full episode as an NFT.
US Lawmakers Looking Into China’s Role in GameStop Pump: Report
Some Republican members of the House Financial Services Committee want to look into Reddit’s ties to Chinese tech conglomerate Tencent and Robinhood rival Moomoo.
Why We Should Take Dogecoin Seriously
Dogecoin’s rise reflects the power of collective belief and a longing for a more ideal form of crypto.
What Really Happened When Robinhood Suspended GameStop Trading
The byzantine world of the public U.S. securities market killed the GameStop pump (sort of).
Reddit, Robinhood, Citadel CEOs to Testify at GameStop Hearing
The U.S. House Committee on Financial Services hearing will investigate issues around the recent trading surge for shares of GameStop and other companies.
‘Market Battleship’: Why It’s Rigged and How DeFi Can Help
Individual investors, even when operating in a swarm, are destined to lose. How do I know? I helped design the game.
Preston Byrne on GameStop, Online Mobs and Marmots
The attorney joins Ben Schiller to consider the continuing fallout from the WallStreetBets controversy.
Wall Street Is ‘The Hunger Games’ With Suits
A reading of Ben Hunt’s latest essay for Epsilon Theory.
What the GameStop Saga Says About US Capitalism
In the aftermath of WallStreetBets, Demetri Kofinas joins the hosts of Money Reimagined as they dissect the events that led to this moment and what it means for our future.
