2021 has truly been the year of monetising memes. First, we had the GameStop saga that saw Reddit finance bros wreak havoc on actual Wall Street, then we had the rise of Dogecoin, and now we’re seeing all of our favourite OG memes being flogged as NFTs for small fortunes.
Naturally, the next step is for GameStop – the video game retailer famous for being the most shorted stock on the NYSE – to enter the NFT market.
GameStop launched a new website this week – nft.gamestop.com – with a mission statement that doesn’t really give a lot of explanation as to exactly what it’s doing.
“Power to the players. Power to the creators. Power to the collectors,” the mission statement on the website reads.
By the sound of it, it seems like the platform will primarily target gamers with NFTs related to their favourite gaming franchises. However, nothing has actually been confirmed yet.
The move to NFTs is hardly surprising considering how successful the NFT boom has been in recent months, with OG memes and YouTube videos like the iconic Charlie Bit My Finger video selling for hundreds of thousands of dollars.
At the moment, GameStop is just trying to build the team behind the project and is looking to hire “exceptional engineers (solidity, react, python), designers, gamers, marketers, and community leaders” to help bring the idea to life.
What is the idea? Well, we don’t exactly know.
It also posted a link to an Ethereum address, which means the platform will likely be built on blockchain technology. That doesn’t give us a lot to work with, but it’s something.
Considering GameStop has already created its own ERC-721 standard token for the platform, you can only assume it’s planning something reasonably big.
The news comes as GameStop shares are once again headed to the moon with a massive 15.8 per cent surge on Wednesday, bringing the stock to its highest level since mid-March.
Gizmodo Australia has contacted GameStop for comment.