GameStop to Close NFT Platform Amid Regulatory Uncertainty

The American video game retail chain GameStop announced the closure of its non-fungible token platform due to regulatory uncertainty in the crypto sector.

The GameStop NFT marketplace will cease operations on February 2.

“Your NFTs are stored on the blockchain. You will be able to access and sell them on other platforms,” the company stated.

In August 2023, GameStop announced that its digital wallets would become unavailable from November 1. According to Cointelegraph, the chain also cited regulatory uncertainty in the crypto industry as the reason.

Back in December 2022, GameStop reported abandoning initiatives related to digital assets after recording a net loss of $94.7 million in the third quarter.