Video gaming, a few years ago, emerged as the first sector to embrace the new-age technology of blockchain and crypto. Now that the global fintech industry is considering the potential of cryptocurrencies, FTX crypto exchange has decided to play its part in driving more crypto adoption. The US-base exchange has partnered with GameStop to promote connections and interactions between the crypto and gaming communities. This video gaming firm was founded in 1984 and has a current market cap of $7.32 billion (approximately Rs. 58,300 crore).
As part of their partnership, the companies will promote e-commerce and marketing initiatives for each other.
GameStop retail stores, for example, will now begin carrying FTX gift cards to allow holders to explore the crypto realm. FTX, on the other hand, is labeling GameStop as its ‘preferred’ retail partner across the US.
“The partnership is intended to introduce more GameStop customers to FTX’s community and its marketplace for digital assets,” Eck said. Press release From GameStop.
Neither company disclosed the financial terms of the partnership.
This partnership with FTX is GameStop’s second major step in its venture into the Web3 space.
Earlier this year, the video game retailer launched its NFT marketplace dedicated to the gaming community. The shopper’s stop for game-based digital collectibles opened to $7.2 million (approx. Rs. 57.30 crore) in its first weekly sales.
In the meantime, FTX is trying to participate in driving crypto culture as much as possible.
A KPMG report recently revealed that FTX is the third largest investor in crypto start-ups this year. In the first half of 2022, FTX has already poured $500 million (roughly Rs. 4,000 crore) into the sector.
