GameStop's NFT Experiment Is Not Going Well
In the days after GameStop (NYSE: GME) launched its long-hyped NFT marketplace last month, many media outlets reported that it got off to a surprisingly strong start. Trading volume reached nearly $2 million on the first day, and the top 50 collections generated over $7.5 million of transactions in the first week. These figures far exceeded cumulative transaction volumes on Coinbase's NFT platform, which launched several months earlier.
However, GameStop hasn't been able to sustain this initial surge of interest. Transaction volumes have plummeted over the past month, confirming that a pivot to NFTs is unlikely to save GameStop.
GameStop's NFT marketplace provides a real-time look at transaction volume on its statistics page. The numbers point to a big drop in activity as the platform's novelty has worn off.
Source Fool.com
