GameStop To Shut NFT Marketplace Amid Crypto Uncertainty

January 16, 2023

January 14, 2023

January 14, 2023

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By Pooja

GameStop to close NFT marketplace on February 2, 2024, two years after its February 3, 2022, announcement.

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Crypto Uncertainty Impact

The closure follows GameStop's crypto wallet shutdown in August 2023.

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Crypto Wallet Shutdown

Regulatory uncertainty cited as the reason for winding down the marketplace.

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Regulatory Uncertainty

GameStop entered the crypto space in January 2022, hiring staff for an NFT division.

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Entry into Crypto

The company, known for U.S. retail stores, diversified due to struggles in the physical gaming space.

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Diversification Strategy

NFT marketplace closure anticipated after GameStop's December 2022 shift away from crypto focus.

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Shift Away from Crypto

Former CFO Diana Saadeh-Jajeh, a key decision-maker in crypto initiatives, resigned in August 2022.

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Key Resignation