GameStop axes NFT marketplace, citing regulatory uncertainty

Quick Take

  • GameStop’s NFT marketplace will wind down on February 2, 2024.
  • The company killed its NFT wallet last August, citing regulatory uncertainty for both moves. 

GameStop has announced the closure of its NFT marketplace. In a statement posted to the site, the company cites "the continuing regulatory uncertainty of the crypto space" as the reason behind the closure. The marketplace officially launched on Halloween of 2022, focusing on gaming assets in partnership with ImmutableX, an Ethereum layer 2 blockchain. 

The news means GameStop is all but exiting the crypto space after the company axed its crypto wallet last August. Customers will be able to sell their NFTs on other marketplaces, the website's message says, as the digital assets are hosted on the blockchain rather than any one storefront. 

This news is unlikely to shock observers, though, as GameStop's NFT marketplace largely failed to make a dent in NFT trading volumes. The marketplace's X account hasn't been active since September of last year, either. Still, the move marks a significant turn for the company, which sought to rally its retail trader fans with its foray into Web3 in 2022. 


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GameStop did not immediately respond to a request for comment from The Block. 

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About Author

Zack Abrams is a writer and editor based in Brooklyn, New York. Before coming to The Block, he was the Head Writer at Coinage, a Web3 media outlet covering the biggest stories in Web3. The story he co-reported on Do Kwon won a 2022 Best in Business Journalism award from SABEW. Other projects included a deep dive into SBF's defense based on exclusive documents and unveiling the identity of the hacker behind one of 2023's biggest crypto hacks — so far. He can be reached via X @zackdabrams or email, [email protected].