Ethereum NFT sales at GameStop outperform Coinbase NFT in just two days

Jamal Molla
Written By Jamal Molla
I write about cryptocurrency, with a special interest in NFT and metaverse in particular.

The beta version of GameStop’s brand-new Ethereum-based NFT marketplace has been operational for 48 hours. Although gaming NFTs will be the marketplace’s primary product, it is not yet available.

Nevertheless, since it launched in May, Coinbase’s NFT marketplace has experienced roughly twice as much trade activity as the new marketplace launched by the gaming store.

Citing information posted on its webpage, GameStop NFT has witnessed a minimum of 3,167 ETH trade activity since its introduction on Monday. The only publicly available statistics for the marketplace top 50 collections equals that much, or about $3.5 million, thus GameStop’s overall marketplace trade volume is probably larger.

After massive downsizing, GameStop creates an Ethereum NFT marketplace

In comparison, based on the recent information from Dune Analytics, Coinbase’s NFT marketplace has produced 1,704 ETH in trade volume, or around $1.8 million, since its unconvincing launch.

Among all, compared to established NFT platforms like OpenSea, which saw a trading volume of $16 million on Wednesday alone, GameStop NFT’s early performance is terrible.

The $12 billion Web3-native firm Coinbase’s $12 billion all-time volume was swiftly surpassed by the video game store, yet this is not a small achievement.

GameStop stock (GME), which closed on Wednesday at $141.28, has increased 10% since the marketplace’s introduction on Monday. (The legendary meme stock has decreased by 26% during the previous 12 months.)

About GameStop

Through its e-commerce platforms and physical storefronts, GameStop Corp. specializes in offering video games, entertainment items, and technology. It has offices in several countries, including Australia, Canada, and the United States.

It provides selection of products in several areas, such as hardware and accessories, collectibles, and software. Furthermore, it provides brand-new and used gaming consoles from several PC and console manufacturers.

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