GameStop Is Officially Getting Into NFTs

The company's NFT initiative was revealed with a new homepage, and will be powered by Ethereum.

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After GameStop raised over $500 million earlier this year by selling off some of its surprisingly valuable shares, it looks like the company has decided to invest some of that money back into a program involving NFTs. GameStop quietly launched the GameStop NFT homepage today, which prominently links to an Ethereum address, and also appears to involve a recruitment drive.

The page doesn't include much information other than the Ethereum link, and GameStop doesn't appear to have prepared a media release about the launch either. The page is headlined "change the game," followed by a graphic reading: "Power to the players. Power to the creators. Power to the collectors."

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The rest of the website is devoted to recruitment, with a callout to "exceptional engineers (solidity, react, python), designers, gamers, marketers, and community leaders," to join the new NFT-focused team.

The Ethereum page hides a number of other tidbits, including a smart contract headed by the phrase "Game On Anon," and a dedicated token called GME.

A small game has also been found hidden in the GameStop NFT homepage--titled "runner" in the page's URL, it's a simple re-skin of Google Chrome's Dinosaur Game. The game features a number of references to the users of r/WallStreetBets, who have been credited with GameStop's unexpected stock rally, including rocket ships, the moon, and the Snazzy Bananya--a GameStop exclusive plush toy that has become popular with WallStreetBets users. The hidden game is GameStop's most overt acknowledgement of its unusual Reddit-based fanbase to date.

It's unclear as yet what GameStop will be using NFTs for, though people have speculated that they could be used for selling used games or in-game items. The stealth reveal has had a positive impact on the company's share price, however, pushing it above $200 for the first time since March. GameStop's decsion to go with Ethereum may not be the best news for gamers, however, with Ethereum mining a contributing factor to ongoing parts shortages in the industry, as well as the rising costs of graphics cards across the board.

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