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GameStop Mines for Cryptocurrency Sales

GameStop partners with crypto exchange FTX to offer digital currency for purchases and trading on its new NFT marketplace

Published

2 years ago

September 9, 2022

VMSD Staff

GameStop Mines for Cryptocurrency Sales — A GameStop store in New York in 2021. Photography: Shutterstock

A GameStop store in New York in 2021. Photography: Shutterstock

GameStop (Grapevine, Texas) will begin using cryptocurrency to its bolster e-commerce and for trading on its new non-fungible tokens (NFTs) marketplace for gamers, called GameStop NFT.

On Wednesday, Reuters reported GameStop signed a partnership with crypto exchange FTX.US to offer digital currency for GameStop purchases and as a resource for the popular NFT marketplace it launched this summer. The companies are planning a marketing campaign aimed at the seemingly ideal demographic of the gaming community — where VR and digital assets have long been de facto.

FTX is a U.S.-regulated cryptocurrency exchange led by CEO Sam Bankman-Fried and based in Nassau, Bahamas. For those who want to purchase GameStop’s cryptocurrency and still have a stocking-stuffer for this holiday season, the retailer will also offer gift cards linked to FTX digital currency.

According to a recent survey conducted by Deloitte, nearly 75 percent of retailers plan to accept either cryptocurrency or currency-linked stablecoin as payments within the next two years.

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