GameStop To Launch NFTs – Stock Jumps

Cryptocurrency Daily Profit Investing Research
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GameStop is jumping into crypto and NFTs.

And last week investors applauded the move – bidding up share by as much as 24% on Friday.

It’s the latest move for the gaming retailer to evolve its business and embrace emerging digital assets.

So, what’s the best way to profit?

Simply BUY these Crypto Moonshots BEFORE this news announcement.

GameStop (NYSE: GME) announced new plans last week.

The company plans to create a marketplace for nonfungible tokens – also known as NFTs. And it’s also working to develop cryptocurrency partnerships.

GameStop has hired more than 20 people to run its digital initiatives.

The NFT marketplace will allow people to buy and sell items used in virtual video games. This includes skins, as well as unique weapons and armor used in games.

The company is also working with two crypto companies to develop video games that use blockchain and NFT technology.

GameStop’s new CEO is Ryan Cohen. He’s an activist investor who took over the company after selling Chewy (NYSE: CHWY) for over $3 billion.

Cohen is pushing to make GameStop more tech focused. And that includes digital currencies, virtual gaming and NFTs.

GameStop stock is trading around $124 today. That’s a steep drop from the recent high of $247 per share in mid-November.

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Management clearly hopes that initiatives in crypto and NFTs will help re-frame the GameStop stock story. And potentially serve as a catalyst to get the stock price back to new highs.

There’s a ton of interest in NFTs – and GameStop clearly wants to cash in.

Last week an NFT marketplace called OpenSea raised $300 million from venture capital investors. That financing valued the company at $13.3 billion – exceeding GameStop’s $9.5 billion valuation.

Those types of deals are encouraging companies like GameStop to jump into the NFT space.

So, what’s the best way to profit?

My research suggests that a group of new cryptos can give you direct exposure to the booming opportunity in NFTs.

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