This all came out of left-field, no press releases — just a crude Tweet from the incoming Chairman, Ryan Cohen. Revealing the site in the midst of GME’s latest rally certainly poured more fuel onto the fire. It also suggests more radical changes in the company’s offerings.
Earlier this year, Atari revealed their Blockchain division. Aiming to reinvent themselves, they intend on incorporating blockchain and NFTs into gaming. They released their own token and a new console in anticipation. GME is looking to get into this profitable game early, but it’s still unclear what exactly they aim to do.
Other decentralized video games allow users to buy and sell plots of virtual land. Decentraland has done 50 million in sales for speculators. It’s reminiscent of the early dot-com internet boom. NFTs are a new technology, so a few whales are making bets and snapping up as many as they can.
Even though NFTs can generate a lot of income, we’re still not sure what role they shall play in the future of gaming. Like Virtual Reality or Augmented Reality, it might take decades to gain popularity. What does all this mean in the context of GME?
