The end of an adventure – The bear market got the better of Gamestop and its desire to believe in the potential of the blockchain in the field of video games. Despite a desire strong, present for many months, the results are not there, and force the company to rethink its way of working.
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No more blockchain at Gamestop, at least temporarily
Indeed, with a result negative nearly $95 million in the third quarter, and layoffs advertisement, GameStop must refocus, and leave aside the blockchain part.
Earlier in the year, the company announced a partnership with ImmutableX and his desire to go further in games dedicated to Web3. But the results at half mast put a brake, certainly temporarily, on this part of development.
« While we continue to believe there is long-term potential for digital assets in the gaming world, we do not and will not risk significant equity capital in this space. But we are also pursuing and plan to continue to pursue other business and strategic initiatives associated with digital assets and blockchain technology.. »
Matt Furlong – PDG de GameStop
The president of the company ends by explaining that other projects are in progress to raise the bar, in particular on collectiblesand second-hand items.
The layoffs would particularly affect the engineers and developers who work on this part linking blockchain, Web3 and video game. Testimonials on LinkedIn are starting to appear, and this should multiply in the days to come.
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