Summary: Popular game retailer GameStop (GME) plans to launch an NFT marketplace by the end of the second quarter of 2022, according to its fiscal fourth-quarter earnings report. The company has hired dozens of experts in fields like blockchain gaming, e-commerce and technology, product innovation, etc. In February, GameStop entered into a partnership with Immutable X, a ...

Popular game retailer GameStop (GME) plans to launch an NFT marketplace by the end of the second quarter of 2022, according to its fiscal fourth-quarter earnings report. The company has hired dozens of experts in fields like blockchain gaming, e-commerce and technology, product innovation, etc.

In February, GameStop entered into a partnership with Immutable X, a layer 2 system designed to support the development of the GameStop NFT marketplace and provide the company with up to $150 million in IMX tokens after certain milestones are achieved.

The company's financial performance fell short of expectations. According to FactSet, GameStop reported a loss of $1.94 per share in the fiscal fourth quarter, compared with analysts' consensus earnings estimates of $0.85 per share, and quarterly revenue of $2.25 billion, compared with analysts' estimates of $2.16 billion.

By Mary Liu