GameStop And FTX Exchange Announce Partnership
According to a recent press release, GameStop has announced a new collaboration with FTX US aimed at introducing its customers to FTXs community and marketplaces for digital assets. Following the announcement of this partnership, GameStops stock rose by about 10%.
As a result, certain GameStop retail locations will sell FTX gift cards, as it is FTXs preferred retail partner within the United States. The financial details of the partnership were not disclosed in the press release.
The retailer has attempted to diversify its business into the Web3 space by trying to introduce a digital asset wallet which enables users to receive as well as send crypto and NFTs. On July 11th, the company had even launched its very own NFT marketplace project.
Like so many other companies, GameStop was also impacted by the current global economic situation, as it laid off employees in order to save the company. Coinbase, another notable company in the crypto sector, had similarly laid off a substantial number of employees not too long ago.
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