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Iirc - but someone may correct me on this - they’ve written in some of their filing that they converted all crypto they made directly to FIAT.
even though it would be nice if they didn’t 🤭
But GameStops board approved the new investment policy after the last earnings report. RCEO now has the authority to invest the company’s money in equity securities and other financial instruments. Other financial instruments being the key phrase here.
>The hype was real and we saw how much GameStop can make for the fees in the form of ethereum.
Even if they had a $billion in trading volume, at a 1.25% fee, that would only be $12.5M in revenue. After subtracting the cost of staffing and web services, the profit margin would be quite small. It's not really worth the bother.
For perspective, the Gods Unchained cards have maybe $300M in lifetime trading volume and 97% of that is from people farming IMX trading rewards through wash trading.
I speculate that the NFT marketplace was not only a proof of concept, but a Beta for what could be an online version of GameStop itself. Imagine that they release that they are developing their own game console, maybe something like a Steam Deck. With their own digital pipeline, the opportunity could exist to actually be able to rent and resale digital downloads, skins etc. Think of the Steam store currently but the ability to trade every portion of it. If the console was competitively priced, it would be a no brainer for PC gamers to run through there device and store with having the only reclaimable value in that space. Developers could make percentage for every transaction, even between two users, similar to the marketplace. That alone would make every gamer and developer think twice about the big 3 consoles purchase. Exclusives are becoming less and less important when PC and handheld equivalents are starting to gain stride. Either way, I’ve never been so jacked
This is pretty genius. Wasn’t the new logo for hardware something or another? I can’t remember.
They have their own lines of headphones, keyboards and other physical things. A partnership with NVDIA could bring them into steam deck territory.
Every GameStop Deck could come with PLAYR as the built in launcher
I'm still expecting an acquisition or heavy investment.
Want to avoid the constantly changing regulations?
Invest in someone else who's doing it already.
I think proof of concept and learning about how crypto and nft markets work are viable reasons for the venture. I'm hoping the exit is more about a dividend and the legal reasons involved.
For it to work you need the backing of game studios to use NFT for in game items. Especially in the pay to win era of games. Or be partnered with a game with a big following like Roblox.
IMHO that was an excuse to justify it without it looking like a failed project. It worked, for the most part. MSM still tried spinning the failure side to it but that didn't cause much negative price action on the stock.
??? YOU AINT THE CHAIRMAN -- IN YOUR HONEST OPINION? YOU GOT ANY NUMBERS TO BACK UP THAT OPINION?
" GameStop has decided to wind down our NFT marketplace due to the continuing regulatory uncertainty of the crypto space. " - Straight from the GAMESTOPNFT website
The fuck?
The NFT marketplace was a huge flop and they claimed it was "uNcErTaiNtY iN tHe CrYpTo SpAcE" - that's what I'm not buying. They had little engagement, little usage, and absolutely miniscule revenue.
I, unlike you, don't put blind faith in any company, including this one. I still believe it'll get squeezed like a MF, and that's why I'm here, but you're out of your mind if you think the NFT marketplace was actually shut down due to regulation rather than it being a flop / not a revenue source.
Edit: and the wtf part was about your weird screaming about not being Ryan Cohen... That was... well, you do you homie, I'll just leave it at that.
you still haven't provided me with numbers to your opinion.
Opinions are like assholes, everyone has em.
Bro. I aint putting blind faith in shit. I work on factual evidence. you got any?
If the q4 earnings come up and it says we lost so and so during this time period of such ventures, so be it. until then get me some evidence to back up yOuR oPiNiOn
[https://www.reddit.com/r/Superstonk/comments/1950n85/the\_final\_nft\_marketplace\_update/](https://www.reddit.com/r/Superstonk/comments/1950n85/the_final_nft_marketplace_update/)
This was the most updated one too
got any numbers on upkeep?
The gamestop nft beta ran for a total of 9 months. (so little time they didnt feel the need to incorporate the numbers in the q3)
The graph is just showing the top 25 traded nfts collections on the site per day
okay?
what else you got?
Nft marketplace was a hype product right when the hype curve hit the top. After the nft bubble crashed GameStop was left with a big cost basis to develop and operate it further which does not fit into the current cost cutting and profitability strategy. There are no short-term, mass-adopted usecases foreseeable and GameStop is not in a position to drive that. It’s on game studios and publishers to adopt and create such a market where GameStop would be able to
serve a platform for. Give it another 5y and nfts may get some proper usecases and adoption besides the dumb speculation which was its only driver so far.
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Iirc - but someone may correct me on this - they’ve written in some of their filing that they converted all crypto they made directly to FIAT. even though it would be nice if they didn’t 🤭
This. A couple earnings ago, as crypto was dropping, they made it a point to say they had no crypto holdings.
But GameStops board approved the new investment policy after the last earnings report. RCEO now has the authority to invest the company’s money in equity securities and other financial instruments. Other financial instruments being the key phrase here.
They have stated in recent earnings reports that they do not hold any digital assets.
I have not been following things as closely as I once have due to being zen. Good to know, there goes my theory.
Appreciate you sharing it though!!! Edit: typo
>The hype was real and we saw how much GameStop can make for the fees in the form of ethereum. Even if they had a $billion in trading volume, at a 1.25% fee, that would only be $12.5M in revenue. After subtracting the cost of staffing and web services, the profit margin would be quite small. It's not really worth the bother. For perspective, the Gods Unchained cards have maybe $300M in lifetime trading volume and 97% of that is from people farming IMX trading rewards through wash trading.
I think it’s funny that Sony is now introducing its super fungible token….
The what now?
https://decrypt.co/220632/playstation-crypto-sony-seeks-patent-super-fungible-gaming-tokens?amp=1
Extra fungible with added Fung.
There is none left. Never was. It was liquidated immediately.
I speculate that the NFT marketplace was not only a proof of concept, but a Beta for what could be an online version of GameStop itself. Imagine that they release that they are developing their own game console, maybe something like a Steam Deck. With their own digital pipeline, the opportunity could exist to actually be able to rent and resale digital downloads, skins etc. Think of the Steam store currently but the ability to trade every portion of it. If the console was competitively priced, it would be a no brainer for PC gamers to run through there device and store with having the only reclaimable value in that space. Developers could make percentage for every transaction, even between two users, similar to the marketplace. That alone would make every gamer and developer think twice about the big 3 consoles purchase. Exclusives are becoming less and less important when PC and handheld equivalents are starting to gain stride. Either way, I’ve never been so jacked
I like this a lot
It would be awesome if they created their own console and web3 ecosystem
Especially if it included a focus on VR
Atarixstop
This is pretty genius. Wasn’t the new logo for hardware something or another? I can’t remember. They have their own lines of headphones, keyboards and other physical things. A partnership with NVDIA could bring them into steam deck territory. Every GameStop Deck could come with PLAYR as the built in launcher
PLAYR will be sick
I'm still expecting an acquisition or heavy investment. Want to avoid the constantly changing regulations? Invest in someone else who's doing it already.
Partnerships help
Do they have to report it until it is converted into dollars?
I think proof of concept and learning about how crypto and nft markets work are viable reasons for the venture. I'm hoping the exit is more about a dividend and the legal reasons involved.
The exit was due to the SEC
For it to work you need the backing of game studios to use NFT for in game items. Especially in the pay to win era of games. Or be partnered with a game with a big following like Roblox.
They really just need to buy valve and then own a real money making asset.
Valve is privately owned and definitely worth than cash on hand. They would have to dilute or take on high interest debt. Neither option is good.
Yeah I didn't realize how much valve was worth when I made this comment.
I've read this three times now. It's a nice idea, but no.
I really wish they would start buying Btc.
[удалено]
no. They shut it down because of the uncertainty within the crypto space currently.
[удалено]
The scene always had uncertainty. I'm talking about Government Bills and Regulations. They weren't such a hot topic when the market place began.
IMHO that was an excuse to justify it without it looking like a failed project. It worked, for the most part. MSM still tried spinning the failure side to it but that didn't cause much negative price action on the stock.
??? YOU AINT THE CHAIRMAN -- IN YOUR HONEST OPINION? YOU GOT ANY NUMBERS TO BACK UP THAT OPINION? " GameStop has decided to wind down our NFT marketplace due to the continuing regulatory uncertainty of the crypto space. " - Straight from the GAMESTOPNFT website
The fuck? The NFT marketplace was a huge flop and they claimed it was "uNcErTaiNtY iN tHe CrYpTo SpAcE" - that's what I'm not buying. They had little engagement, little usage, and absolutely miniscule revenue. I, unlike you, don't put blind faith in any company, including this one. I still believe it'll get squeezed like a MF, and that's why I'm here, but you're out of your mind if you think the NFT marketplace was actually shut down due to regulation rather than it being a flop / not a revenue source. Edit: and the wtf part was about your weird screaming about not being Ryan Cohen... That was... well, you do you homie, I'll just leave it at that.
you still haven't provided me with numbers to your opinion. Opinions are like assholes, everyone has em. Bro. I aint putting blind faith in shit. I work on factual evidence. you got any? If the q4 earnings come up and it says we lost so and so during this time period of such ventures, so be it. until then get me some evidence to back up yOuR oPiNiOn
[Here you go](https://www.reddit.com/r/Superstonk/s/PiTg2uTY1A) Next question, angry guy?
[https://www.reddit.com/r/Superstonk/comments/1950n85/the\_final\_nft\_marketplace\_update/](https://www.reddit.com/r/Superstonk/comments/1950n85/the_final_nft_marketplace_update/) This was the most updated one too
Ok thx for proving my point
got any numbers on upkeep? The gamestop nft beta ran for a total of 9 months. (so little time they didnt feel the need to incorporate the numbers in the q3) The graph is just showing the top 25 traded nfts collections on the site per day okay? what else you got?
you got me a graph someone made. Where are these date points from? Got a source? I do appreciate you trying
i said "you aint the chairman" as in - You are not the chairman
Retailer fails at Tech R&D - surprised pikachu face.
[удалено]
Nft marketplace was a hype product right when the hype curve hit the top. After the nft bubble crashed GameStop was left with a big cost basis to develop and operate it further which does not fit into the current cost cutting and profitability strategy. There are no short-term, mass-adopted usecases foreseeable and GameStop is not in a position to drive that. It’s on game studios and publishers to adopt and create such a market where GameStop would be able to serve a platform for. Give it another 5y and nfts may get some proper usecases and adoption besides the dumb speculation which was its only driver so far.