Video Game Retailer GameStop Teases Ethereum-Based NFT Project

Key highlights:

  • Video game retailer GameStop is teasing an Ethereum-based NFT project
  • A subsection of the company’s website features an Ethereum contract address for an ERC-721 token called GME
  • GameStop went viral earlier this year when r/WallStreetBets users triggered a short squeeze in the GME market

GameStop is teasing an NFT project

Video game retailer GameStop is looking to make an entrance in the NFT space, according to a new subsection of the company’s website.

The website doesn’t offer much in terms of detail – it features an animation of a Game Boy-like device that’s being loaded with a cartridge sporting the logos of both GameStop and Ethereum. The device’s screen reads “Power to the players. Power to the creators. Power to the collectors”.

The website also features an Ethereum contract address associated with an ERC-721 token with the ticker GME. The contract address starts with “1337” and “420” (following the mandatory “0x”), two popular numbers in online meme culture. The contract’s source code contains a stylized message reading “Game On Anon”. “Anon” is a general term used to refer to anonymous users of online communities. It’s particularly popular on the controversial 4chan imageboard, but it has also spilled over into other parts of the internet.

Gamestop says that it is building a team for its NFT project. According to the website, the company is hiring developers with experience in Solidity and other programming languages, and is also looking to fill roles in marketing, design, and other sectors.

As an interesting note, clicking a tiny dot on the nft.gamestop.com website opens up a retro sidescrolling video game where the player controls a cat-like creature and jumps over rapidly approaching obstacles. It’s unclear if this game is simply an easter egg for the website or if it’s hinting at something bigger.

GameStop attracted a cult-like following online earlier this year, when traders on the r/WallStreetBets subreddit successfully triggered a short squeeze in the market for the company’s stock. The stock, which started 2021 trading at less than $20, rallied to almost $350 by the end of January. GME continued to display massive volatility, including a correction below $100. However, the stock recovered, and is currently trading at around $209. 

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