• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

What Is a DEX? How DEXs Work and Why They Matter

2025-05-21

Solana Revolutionary Launch – Near Instant Finality – Blink of an eye

2025-05-21

What Is Blockchain? Blockchain Technology Explained for Beginners

2025-05-21

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What Is a DEX? How DEXs Work and Why They Matter

    2025-05-21

    What Is Blockchain? Blockchain Technology Explained for Beginners

    2025-05-21

    A Beginner’s Guide to Crypto

    2025-05-15

    10 Years of Steadfast Support and Compliance

    2025-05-15

    What Is Proof-of-Work (PoW) in Blockchain? A Beginner-Friendly Guide

    2025-05-12
  • Videos

    Solana Revolutionary Launch – Near Instant Finality – Blink of an eye

    2025-05-21

    OCTA: 🚀 The Craziest 🔥 BULLISH 📈 Signals EVER 🤯

    2025-05-20

    ALL IN! 10X Bitcoin leverage RIGHT NOW!!

    2025-05-19

    Bitcoin: Buy Now, 10X Leverage!!!!!

    2025-05-19

    Bitcoin’s Highest Weekly Close Signals Bigger Moves Ahead

    2025-05-19
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»NFT»GameStop to End NFT Wallet Support in November
NFT

GameStop to End NFT Wallet Support in November

2023-08-02No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

GameStop recently announced its decision through a pop-up message on its NFT marketplace to discontinue support for its proprietary crypto wallet, GameStop Wallet, which doesn’t really come as much surprise. 

The wallet itself was introduced to the public in May 2022 to support NFT trading through the retailer’s native NFT marketplace.

While the video game retailer’s move is underpinned by the regulatory uncertainty of the crypto space as among the SEC, CFTC, and lawmakers, GameStop has been publicly hinting that this would ultimately be coming down the pipeline.

Since GameStop took its first steps into the NFT world back in Q2 2022 with the debut of its own marketplace that would support crypto-based games, its commitment to the crypto space and the further development of initiatives gradually diminished in efforts to protect stockholders financial interests. It also partnered with the now fallen FTX crypto exchange platform last September.

However, the public launch of its NFT marketplace was met with mixed reactions, where some users had taken to Twitter to express their disappointment in what appeared to be an “aggressive Web3 strategy.”

Support will end in November

According to the pop-up message, GameStop will discontinue its wallet support on November 1, which includes the iOS mobile app and the Google Chrome web browser extension. GameStop customers and users have been advised to back up their wallet’s secret passphrase by October 1, in anticipation of the impending shutdown. 

However, the official “X” account for GameStopNFT hasn’t shared anything to this effect, with its most recent tweet posted on August 1, as of press time.

See also  What are NFT mystery boxes, and how do they work?

Unfortunately, the lack of leadership and willingness by SEC Chair Gary Gensler to really help push forward clearer guidelines and insight, has come to the detriment of industry participants and investors. Gensler’s priority for the past several years has been to continue down a futile path of enforcement actions that seek only to penalize without offering up any guidance behind those decisions.

Company layoffs

The discontinuation of the wallet, however, is not the only significant change at GameStop. 

Roughly two months ago, the company parted ways with CEO Matt Furlong who was initially hired to help facilitate the wallet’s and marketplace’s launch. Furlong’s tenure not only witnessed the launch of both the wallet and NFT marketplace, but also GameStop’s fruitful partnership with the Ethereum scaling network, Immutable X. The partnership had promised a $100 million incentives fund dedicated to developers working on the network.

Although, even before his departure, Furlong had hinted at a shift in GameStop’s strategy during a December 2022 earnings call where he mentioned that GameStop would not be committing significant shareholder capital to the crypto sector. 

GameStop’s journey has been marked by several challenges and transformations. With over 4,400 physical stores operational worldwide as of January, the company has grappled with the evolving dynamics of the video game industry, which is steadily moving towards these types of digital platforms. 

Reports from December 2022 indicated that GameStop had laid off several employees, including those working on crypto wallet engineering. This move aligned with Furlong’s statements about the company’s changing focus and its gradual distancing from both the crypto and NFT arenas.

See also  NYX Professional Makeup Launches NFT Collection for GORJS

As the crypto industry continues to navigate regulatory challenges and the broader market dynamics shift, GameStop’s decision underscores the complexities businesses face when integrating digital assets into their operations, and whether it’s a good financial investment to “get in early” with these emerging technologies.

GameStop NFT November Support Wallet
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

10 Years of Steadfast Support and Compliance

2025-05-15

XRP Ledger developer kit compromised with backdoor to steal wallet private keys

2025-04-22

🔑 Where’s Bitcoin’s Next Big Support? 📉

2025-04-10

Best Wallet 2025: La Mejor App para GUARDAR tus Criptomonedas de Forma Segura

2025-04-09
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Bitcoin

3 Reasons Why It Won’t Be Like 2017, 2021

2023-08-29

In a recent tweet, Luke Mikic, a renowned podcaster and YouTuber, highlighted the distinct differences…

Videos

Has Bitcoin Failed As A Medium Of Exchange?

2023-09-13

Join Bitcoin University Premium: https://www.bitcoinuniversity.com In this video, I discuss Nic Carter’s recent tweet comparing…

DeFi

Arbitrum Blockchain Traders Can Now Protect Against Impermanent Loss

2023-09-20

Decentralized trading service GammaSwap today expanded to the Arbitrum network in a move developers say…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

What Is a DEX? How DEXs Work and Why They Matter

2025-05-21

Solana Revolutionary Launch – Near Instant Finality – Blink of an eye

2025-05-21

What Is Blockchain? Blockchain Technology Explained for Beginners

2025-05-21

OCTA: 🚀 The Craziest 🔥 BULLISH 📈 Signals EVER 🤯

2025-05-20
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 110,738.67
ethereum
Ethereum (ETH) $ 2,695.78
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.45
bnb
BNB (BNB) $ 686.30
solana
Solana (SOL) $ 182.72
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.247376
cardano
Cardano (ADA) $ 0.822092
tron
TRON (TRX) $ 0.273502
bitcoin
Bitcoin (BTC) $ 110,738.67
ethereum
Ethereum (ETH) $ 2,695.78
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.45
bnb
BNB (BNB) $ 686.30
solana
Solana (SOL) $ 182.72
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.247376
cardano
Cardano (ADA) $ 0.822092
tron
TRON (TRX) $ 0.273502