An American video game company GameStop established a partnership with FTX.US crypto exchange.
FTX is a popular crypto exchange and FTX.US is an independent subsidiary of FTX crypto exchange, which is standing at 10th rank in terms of 24 hours assets traded on the platform. However crypto services of FTX.US are not extended like FTX global crypto exchange but still, it is a suitable crypto platform for US-based crypto traders.
On 7 September, Through a press release, GameStop announced that it established a partnership with FTX.US. This partnership aims to bring more customers to the FTX Community from the GameStop platform.
Under this partnership, GameStop’s selected physical stores will support the FTXUS gift cards. The financial details of this partnership between these two companies is still in the private domain.
“collaborating with FTX on new eCommerce and online marketing initiatives, GameStop will begin carrying FTX gift cards in select stores,” the Press release noted
According to the report by CNBC, video game company GameStop is currently in a struggling stage because over the last year the company faced a $1.14 billion downfall in the video game sale.
And also the company faced a huge revenue downfall because of the current macroeconomic situation and also the company laid off staff to save the company.
GameStop in crypto space
In the last couple of years, the company showed that it is highly interested in the crypto space because of the better technical features associated with blockchain technology.
On 11 July, Company launched its own NFTs marketplace to bring better ease for the blockchain gaming platform users to deal with gaming character wearable items.
GameStop also aimed to pivot its business model around the crypto & Web3 sectors more dominantly.
Read also: Crypto lending services without regulation may act as a catalyst for the next recession, says Former OCC head
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