Know Your Meme

GameStop Appears Poised To Enter NFT Space Right As The Crypto Economy Is Crashing

May 20th, 2022 - 3:31 PM EDT by Adam Downer

13 comments

GameStop, a company that essentially seems to have harvested the power of memes to continue surviving, is ready to take its luck from the wild world of Wall Street to the wilder world of cryptocurrency and NFTs.

According to a tweet called "GameStopNFT," the brick-and-mortar video game store is entering the crypto market, which you'll recall is not doing so hot right now, in some form — though details are still vague.

Currently, the NFT GameStop website has a vague message reading "Almost There," meaning it's unclear what exactly GameStop is planning to do in the crypto space.

GameStop joins a long line of video game companies getting into NFTs, though almost every company that has so far has been largely ethered by fans. The reaction to GameStop's vague announcement so far seems no different judging from many reactions on platforms like Twitter.

At the moment, it's a mystery why GameStop chose now of all times to get into the cryptocurrency space. Maybe it has something to do with chairman Ryan Cohen liking the Spice Girls?

Share Pin

Comments 13 total

Chewybunny

May 20, 2022 at 10:54PM EDT
¯\(ツ)/¯

We've seen the Crypto market itself go through a few cycles of crashes and like a phoenix explodes out of the ashes stronger than ever. Although the crypto market crashed in the last few weeks, the fact of the matter is that in 2021, $14 trillion of cryptocurrency was traded. In every instance people predicted that "that's it, that's the end of this market", and yet, over the span of a decade we saw crypto currencies explode in value, outpacing any other investment.
NFTs had a craze last year that seemed to have calmed down, yet the NFT market is still active, still minting. Will it go anywhere? I don't know. But, it seems like crypto is here to stay, will continue to stay, and at this point has become stable. For good or bad.

1

Nox Lucis

May 21, 2022 at 12:48AM EDT Chewybunny

>stable

Unless your name is Luna, of course!

0

Jon the Wizard

May 21, 2022 at 12:43PM EDT Chewybunny

Sounds like someone desperate to justify a crypto purchase.

2

Timey16

May 21, 2022 at 01:01PM EDT Chewybunny

Just because it doesn't die permanently doesn't make it a good idea… if anything it just proves that this all just based on gambling with zero logic behind it.

1

view the rest of this conversation →

Know Your Meme

  Like Page   1.8M likes
pinterest