From Video games to NFTs. Picture: John Smith/VIEWpress (Getty Photographs)It’s not solely sport corporations like Sq. Enix and Ubisoft who’re entering into NFTs, sport retailer GameStop is reportedly doing so, too. In accordance with The Wall Avenue Journal stories, the Texas-based firm is launching its personal crypto division with plans to create a web based NFT market and enter in cryptocurrency collaborations. Kotaku contacted GameStop for remark, however didn’t hear again previous to publication. GameStop has introduced on twenty new hires to develop the brand new on-line market the place folks should purchase, promote, and commerce NFTs and digital in-game gadgets. Sources inform WSJ that {the marketplace} is about to launch in late 2022 and that sport corporations are being requested to supply their NFTs by means of this new on-line hub. This new market, it appears, would compete with the likes of OpenSea, the NFT market that now has a $13.3 billion valuation.Not everyone seems to be fast to embrace the crypto and NFT development. For instance, Worth’s Steam platform has already banned video games that function crypto and NFTs.WSJ provides that GameStop can also be on the point of ink partnerships with two cryptocurrency corporations. The offers would additionally higher place the sport retailer to put money into video games with crypto options. These partnerships aren’t remoted, however apparently, the corporate’s roadmap ahead. Sources say that this 12 months alone, GameStop is trying to enter a few dozen or extra partnerships and make investments for tens of tens of millions of {dollars}.Beforehand, GameStop launched an NFT web site with the tagline “Change The Sport.”GameStop’s enterprise mannequin has been hit laborious by the rise of digital downloads. Income is down and retailers are shuttering. However the inventory market appeared to love the concept that GameStop was going into the crypto enterprise. Reuters stories that its shares elevated on Thursday by 27 p.c. The inventory, as CNBC notes, continues to be down by 59 p.c from its January 2021 peak, which GameStop all of a sudden discovered itself became a “meme inventory” fiasco, which resulted in a Justice Division probe.