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Fresh Off The Block: GameStop launches NFT marketplace amid bear market and more

Khairani Afifi Noordin
Khairani Afifi Noordin7/12/2022 04:22 PM GMT+08  • 2 min read
Fresh Off The Block: GameStop launches NFT marketplace amid bear market and more
Photo: GameStop
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GameStop Corp has launched its highly anticipated non-fungible token (NFT) marketplace amid the crypto bear market. The Ethereum Layer 2-based marketplace allows users to buy, sell and trade NFTs using Ether, which has declined 71% in value year-to-date.

Chart: Ether YTD price performance, CoinGecko

“Over time, the marketplace will expand functionality to encompass additional categories such as Web3 gaming, more creators and other Ethereum environments,” the company said in a filing.

Photo: Reddit

See also: Crypto firm Genesis is preparing to file for bankruptcy

Similarly, social media platform Reddit has launched NFT-based “collectible avatars” which can be purchased with fiat currencies at a fixed amount.

The avatars are currently stored on Polygon due to its low-cost transactions and sustainability commitments. As other coins see red this week, the price of Polygon's native coin MATIC grew 17% over the past 7-days to 57 US cents apiece.

See also: Founders of Three Arrows Capital mocked after seeking to raise US$25 mil for new venture

Photo: Amber Group

Hong Kong-based Amber Group has announced that it will be the official global and main partner of Atlético de Madrid as part of the company’s landmark five-year partnership with the football club.

As the company expands its consumer business WhaleFin globally, it seeks to benefit from significant branding exposure, extending the influence of Atlético de Madrid from the stadium and into the metaverse.

WhaleFin will serve as the preferred digital asset gateway for Atlético de Madrid’s fans, having exclusive rights to establish “Atletiverse”, a virtual island supported by Openverse, the company’s Web3.0 enablement platform for creators, brands and businesses.

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