New NFT Marketplace launched by GameStop, while other crypto-currencies are going down.
Ether is down nearly 70% this year, and NFT sales have fallen precipitously: The perfect time for GameStop's NFT marketplace to go live.
Instead of putting NFTs in games, GameStop is hoping to sell them directly to players. The gaming retailer on Monday launched its own NFT marketplace.
GameStop's business has struggled over the past decade as people increasingly buy games online.
With a customer base in flux, the company now eyes the lucrative NFT market, which was last year worth $25 billion.
NFTs are tokens minted from a blockchain that certify ownership of a digital asset; they're the digital equivalent of the deed to a property.
Critics say NFTs are a temporary craze that will eventually fade to obscurity once the bubble well and truly bursts.
While proponents argue NFTs will change the internet economy forever. Whatever their merits, NFTs are big business.