GameStop NFT Marketplace earns $ 45,000 on day one
What is more cruel? The GameStop cut the number of employees to cut costs just before the launch of an NFT marketplace, or that the NFT marketplace that the company spent millions on only earned an estimated $ 44,500 on its big debut? For those who keep points at home, it is less than the price of a new truck.
GameStops new crypto-based store shows rolling statistics for NFT sales and has been open about demanding a total commission of 2.25%. Although we do not know the total overhead or initial investment, there is enough information to get a rough idea of how much the store earns each day, and so far it is hardly anything. As Ars Technica reports, the first day’s sales amounted to 1,835 Ethereum, or about $ 1.98 million in real money. That equates to $ 44,500 in estimated commissions for GameStop, or about 0.27 percent of its daily net sales in 2021.
To take the calculation a little further, GameStop had 4816 stores worldwide at the beginning of 2021. Dividing the daily net sales by this number means about $ 3426 in business in each store each day. Opening the NFT marketplace was in practice like opening a dozen more GameStop stores, but with the bonus of not having to hire any poorly paid hourly workers.
As the marketplace nears the end of its second day in action, there has only been an estimated $ 823,484 in additional sales volume, or approximately $ 18,578 in additional commissions. Although it is too early to say whether things are already slowing down after the first day’s rush, it certainly does not seem to be picking up speed. As Ars Technica points out The NFT market in general fell dramatically over the past six months, with daily sales volume on established platforms such as OpenSea fell 90%.
Men GameStop meme enthusiasts see only the upside, and is already talking about the potential for exponential growth and lucrative new fee structures linked to GameStop’s proprietary NFT wallet. Others have become obsessed with Easter eggs embedded in one of GameStop’s own NFTs.
An NFT that is not for sale in memory of the launch begins with a loading screen that is eventually changed to an arcade cabinet. GameStonks enthusiasts found a reference to a secret file in the metadata, and discovered that entering the classic Konami cheat code would lead to a rocket ship animation and later an ASCII skull. This rabbit hole allows them to analyze a photograph of a blanket. GameStop’s stock price is naturally up 10% this week.
