Is GameStop a 2022 Winner After NFT Announcement?
Video game retailer GameStop (NYSE: GME) has spent much of the past year in the news, primarily because of its meme-stock status after a historic short squeeze sent the shares soaring more than 1,800% at its peak. But the jokes have now become serious questions about the company's ability to turn around its business; e-commerce competitors and the ability of gaming companies to go directly to consumers have hurt GameStop.
The company recently announced intentions to build a marketplace for non-fungible tokens (NFTs), and a recent report suggested it might invest in integrating NFTs and blockchain technology into games. Is this the big break GameStop needs to evolve, or is it a trap for retail investors? Here is why GameStop's recent NFT news probably won't help the stock in 2022.
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Source Fool.com
