GameStop (NYSE:GME) – GameStop Loses Blockchain Chief: What’s Next for Company’s Web3 Endeavors
After seeing growth in the Web3 sector, video game retailer GameStop Corporation GME may have to find a new person to lead the charge.
What happened: GameStop’s Head of Blockchain Matt Finestone announced he recently left his position at GameStop, calling the role “among the most meaningful of my life.”
Finestone joined GameStop in April 2021 and led the company’s blockchain ambitions, including the launch of the GameStop NFT marketplace.
“Thanks to the GameStop blockchain team. You’ve made the experience exceptional. We went from 0 people to several dozen in a short amount of time, and everything we’ve built — from products to team culture — is because of you,” Finestone tweeted.
Finestone said he plans to work within Ethereum ETH/USD ecosystem and return closer to the protocol and infrastructure level. Before GameStop, Finestone worked for Loop ring.
“I will always care deeply about this project and will appreciate seeing it move forward.”
Finestone told Twitter followers “it’s never been a more exciting time to be an Ethereum.”
Related link: GameStop NFT Marketplace took two days to pass Coinbase NFTs in sales volume
Why it’s important: GameStop launched its NFT marketplace in July and surpassed $3.5 million in sales volume in its first two days to take over Coinbase Global Inc COIN, then passed $4 million after the first three days of trading. The Coinbase marketplace opened in beta in April 2022 and to the public in May 2022.
Dappradar reported that the GameStop NFT marketplace had a sales volume of $5.1 million in the last 30 days and $736,000 in the last seven days.
GameStop recently launched a Betty Boop NFT, which is among the highest selling volume collections of all time.
On Monday, GameStop launched an NFT collection featuring cartoonists John Romita Jr., the creator of “Kick-Ass”.
GameStop said it will launch more video game-specific NFTs in the future. The company shared a tweet earlier this month that it would bring NFTs from “Gods Unleashed” to its marketplace soon.
GameStop recently announced a partnership with cryptocurrency and NFT market company FTX.
“The partnership is intended to introduce more GameStop customers to FTX’s community and its digital asset marketplace,” GameStop said.
GameStop’s early momentum in the NFT space along with the future launch of more collections aimed at gamers has some faith that the video game retailer can take a stake in the sector. The company will likely look to replace Finestone and make an announcement to keep the momentum going.
GME price action: GameStop shares rose 1.14% to $29.24 in late trading Monday, versus a 52-week trading range of $19.40 to $63.92.
Photo: GameStop
