Despite GameStop ‘s 4% drop in second-quarter sales, The video game retailer is entering into a partnership with crypto-exchange FTX. The two firms will collaborate on several initiatives.
Video game retailer GameStop’s quarterly sales fell 4%. Consumers cut back on discretionary spending amid high inflation. The compa ny’s second-quarter revenue fell to $1.14 billion from $1.18 billion a year earlier.
The company did, however, show that it is making progress in its shift to non-fungible tokens by announcing a partnership with FTX US.
Introducing more GameStop customers to the FTX community
Indeed, on Wednesday, US-based GameStop announced a partnership with Sam Bankman Fried’s crypto-currency exchange FTX. The alliance is aimed at, among other things, “introducing more GameStop customers to the FTX community and its digital asset marketplaces.” Gamestop said in a statement:
In addition to collaborating with FTX on new online commerce and marketing initiatives, GameStop will begin offering FTX gift cards in select stores.
GameStop dove into Web3 earlier this year with the development of an NFT marketplace, which launched last July. In the spring, the company also unveiled a non-depository Ethereum wallet.