Gaming retailer GameStop will stop supporting NFTs
GameStop (NYSE:GME) announced that users have just over two weeks left to access the NFT platform: Customers will no longer be able to buy, sell or create collectible tokens. However, current NFT holders will retain access to their tokens and will be able to sell them through other platforms.
The gaming retailer cited the uncertainty of industry regulation as the reason for closing the NFT trading platform. GameStop CEO Matt Furlong explained that the company remains optimistic about cryptocurrencies, but is now seeking to protect investors' funds from risks.
GameStop launched an NFT trading platform in July 2022. In December 2022, the company announced it would stop investing in cryptocurrencies after posting a net loss of $94.7 million in the third quarter. In addition, the company had to lay off employees from its digital assets department.
Let us recall that the Commissioner of the US Securities and Exchange Commission (SEC), Hester Peirce, has already called on the agency to clarify in what cases NFTs can be considered securities.
