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​​GameStop Looks into Decentralization -Breaking

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​​GameStop Looks into Decentralization
  • GameStop (NYSE;) has a serious interest in becoming a decentralized organization.
  • There were eight job openings posted by the company. They are primarily focused on NFTs, and a Web3.0 infrastructure.
  • Gaming retailer hinted that NFT platforms would soon be available in May 2021.

To meet digitally-native consumers’ demands, every tech company will be looking at decentralizing their system. Blockchain technology has revolutionized the business relationship between users and providers. At the start of 2021 the meme stock company was popular. It seeks adaptability to digital environments by becoming a part of the decentralized movement.

GameStop Pushes Toward Decentralization

GameStop wants to push the company’s vision outside centralized standards. According to a new job posting, GameStop is looking for software engineers, product owners, and marketing specialists to “help accelerate the future of gaming” by exploring new methods of digital interactions. Eight jobs are focused on positioning GameStop in the decentralized new system as a contender.

The company was the first to experiment with decentralization in May when it announced plans for a NFT marketplace and launched a website, nft.gamestop.com. However, as a new job description highlights, GameStop seeks specialists with “experience with , NFTs, and blockchain-based gaming.”

The Verge highlighted that the move towards embracing decentralization and incorporating words such as Web 3.0 and NFTs is a tactic that can help “reignite the passion of investors.” XcelLab Magazine argued that the short squeeze made possible by a group of rogue Redditors is an “exemplary case” for the power of decentralization without even incorporating blockchain into the mix. GameStop’s investors believe in decentralized financial freedom. Web 3.0 represents the company’s first steps to further that ideal.

Flipside

  • Financial stability isn’t always reflected in a high-performing stock like GME.
  • Decentralization is not embraced by all major players in the gaming sector. It can hinder their profits margins.

Web 3.0. Is the Next GameStop Frontier

Without a doubt, NFTs and the Metaverse are heavily emphasized topics that converge upon the digital environment led by Facebook’s new market position of becoming a metaverse company first. NFTs sales have increased by $10.67 million in the third quarter, and games such as have changed how users relate to games.

But not all game developers agree with this digital meta. Valve, for example, recently stated that it will not be supporting blockchain-based games and those which reward participants with cryptocurrency. GameStop could have identified a niche in the market that would allow them to attract investors and keep them invested in their project. On a similar note, AMC integrated and payments as a way to transpose their investor’s ideals into their company culture.

GameStop can be described as a vendor of game software. They should release all formats of the games they sell. Web 3.0 is the next frontier for digital gaming because it offers users better control over their assets, creating an already demanded shift from the rental economy towards an ownership economy where players own the assets across the ecosystem without relying on the game developer’s retribution.

Why you should care

The Web 3.0 revolution is happening, and the fact that GameStop, a company that reflects digital natives’ culture, joined the bandwagon shows how the change is more than just mediated hype. It is important to not rush the Web 3.0 transition.

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