Hi HODLers,
GameStop has been suffering a net loss of $147.5 million during Q4 2021.
The company highlighted during its Q4-2021 call that it intends to launch its NFT marketplace by the end of Q2 2022. Meaning .... soon.
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.”
This I am not a fan of as I believe in $IMX token and I remembered that the first thing GameStop did after the deal was to dump its free tokens.
At least, they claim they have hired dozens of additional individuals with experience in blockchain gaming, e-commerce and technology, product refurbishment and operations.
Also, they could ask advice to ImmutableX one of the leader in the space.
On another topic, their ImmutableX partner seems very strong and thriving. More in this article I published a week ago Immutable X is the latest NFT Platform to raise big!
Despite a bearish trend in the NFT market over the past couple of months, GameStop’s partner Immutable X has gone from strength to strength, the firm announced a $200 million Series C funding round at a $2 billion valuation
The price has not been doing late lately, due to poor results from a margin/profit perspective. Let's hope they can turn it around for all the RobinHood traders out there.
Stay safe out there,
