GameStop bids a final farewell to crypto with the closure of its NFT marketplace
Who could have predicted.
GameStop joined a wave of companies and individual celebrities to try and cash in on the height of 2021 and '22's NFT craze, which now feels like it happened in a different century. The company continued to lose revenue, however, and in June of last year CEO Matthew Furlong was terminated. While GameStop has cited regulatory uncertainty in pulling out of the space, it's not even clear anyone even cares enough to regulate crypto anymore.
The failure of numerous so-called stablecoins, the bankruptcy of FTX and the highly publicized prosecution of its founder, Sam Bankman-Fried, as well as the general crash in value of cryptocurrencies and NFTs have led to potentially irreversible reputational damage for the technology
