- GameStop NFT Marketplace makes more Ethereum-based NFT sales than Coinbase in just two days
- GameStop moves over 3,000 ETH worth more than $3.5 million
- GameStop entering NFT has every gamer and NFT enthusiast interested
- The NFTs sold by GameStop is artwork NFTs. It plans to add gaming NFTs soon.
- GameStop NFT sales volume is still far below OpenSea, which moved $16 million worth of NFT in just one day.
GameStop is a premier retailer for everything related to the gaming industry. Since launching its NFT marketplace recently, it has hit the headlines because of its popularity among gamers. But surprise…surprise, it hasn’t yet released single gaming NFT but still broken the sales record set by Coinbase NFT marketplace that has been operational for nearly two months. Since GameStop’s NFT launch on Monday, Coinbase NFT sales have been less than 1% of the business done by the popular gaming platform.
GameStop NFT Marketplace Leaves Coinbase in Dust
GameStop’s brand new Ethereum NFT platform is up and running and has immediately started breaking records.
GameStop’s NFT sales have overtaken Coinbase’s NFT sales. But that’s not the surprise we are talking about. It is the sheer speed of NFT sales that has amazed everyone.
GameStop has moved over 3,000 ETH in 2 days, something that Coinbase could not achieve even though it has been selling NFTs since May 2022.
Based on the data we received, the value of 3,167 ETH NFT trading volume on GameStop amounts to $3.5 million. But this data is only for the top 50 NFT collections.
The actual worth of the trading volume is expected to be higher. But it still does not match the extreme sales garnered by the OpenSea platform in just one day
It is worth remembering that OpenSea generated a trading volume of $16 Billion in a single day. But that was done when NFTs were the biggest draw of Web3, and the crypto market was peaking.
In 2021 and early 2022, the crypto market cap was well over $2 trillion, and everyone was raving about NFTs. BAYC and CryptoPunk NFTs were bought for millions of dollars by celebrities.
Considering the current state of the crypto industry, when the total crypto market cap has fallen under $1 trillion, GameStop’s recent achievement is commendable.
Conclusion
In recent times, the crypto industry has experienced a significant downfall. As the price of NFTs is directly dependent on the fortune of cryptos, the stock price of Non-Fungible Tokens has also taken a massive hit. But GameStop has enlightened the NFT space in the darkness of the crypto world by launching a unique marketplace on Ethereum’s ImmutableX layer-2 protocol. GameStop has beaten Coinbase and is on its way to developing hardcore gaming NFTs, which will increase sales further. As a result of GameStop’s NFT platform launch, its stock has also risen by 10%.