A massive surge of users are about to come to $ETH.
Why?
The news of GameStop launching an NFT platform broke back in July, but after digging a little deeper I’ve connected the dots to something even bigger
I’ll detail this information in the thread below… 🥐
Chewy founder Ryan Cohen joined $GME after he saw specific potential where actions weren’t being taken, particularly in e-commerce
He played a big factor in the success of $GME, who now have over a billion dollars in cash following the legendary short squeeze earlier this year
Clearly, this was no small sum of cash, especially for a company who was worth just $1.3B a few months ago.
It gave GameStop a tremendous treasure chest of funds to work with and use to advance their new CEOs vision of becoming the Amazon of gaming
So, where does $ETH come in?
Just a few weeks ago a new subdomain was found on the GameStop site
LINK: nft.gamestop.com
The page revealed that they are building a team for an NFT platform intertwined with their digital gaming experience…
Integrating NFTs with GameStop would provide for an extremely useful application with unique benefits
It signifies the companies’ deep dive into the blockchain & their effort to go digital
NFTs are the perfect step, and $GME may onboard millions of users to the network this way
Even more interestingly though, is just how seriously they are taking this next step…
As said by the Principal Engineer of GameStop, they are aiming to become the “bridge between the old and the new — traditional “legacy” ecommerce and the next generation of blockchain.”
Still not impressed?
Just have a look at the most recent hires made by GameStop, and you’ll change your mind…
There are an abundance of highly skilled smart contract developers being picked up by the gaming company, including even @0xfoobar from Sushiswap
h/t @GMEdd
Jordan Holdberg is one of the most significant names on this list.
He is now the Principal Engineer at GameStop, and he has an extensive past with NFTs
The GameStop smart contract dev previously tweeted out to Hasbro about NFTs, and even built his own NFT platform called…
Hodlberg Financial.
Hodlberg is a non custodial solution which allows users to attest cryptocurrency wallet balances into a single, convenient token.
It can also save tons on gas costs via message signing
This design could be particularly useful for GameStop… 👀
It would allow their users & traders to easily interact with a wider range of decentralized, authenticated applications without compromising any privacy.
The move to $ETH, a censorship resistant network, is a very significant step for their entire user base…
Remember?
This topic now leads me to the next thing I wanted to discuss.
Partnerships.
Did you know that GameStop has partnerships with many top companies like Hasbro, Xbox, and e-sports teams?
It will be very interesting to see exactly how these are levered on the NFT platform…
Especially when considering things like IP.
A key thing hindering the adoption of NFTs from bigger players in the market are things like intellectual property laws
However, with the latest advancements in NFT technology, this may no longer be the case at all…
People can now deploy DNS based records to ENS
This means that well known brands can very easily authenticate blockchain addresses with their own domain names (to deploy verified NFTs?)
They can do this on $ETH, all while working on something that they are already familiar with
Furthermore, many courts actually handle legal issues with DNS TLDs
Claims, seizures, & settlements are handled by domain
All of the different DNS TLDs are subject to specific jurisdictions by law
ENS integration of DNS brings a new level of authenticity & clarity to NFTs
Why does this matter?
Well, the result of what I’ve described & the opportunities it creates are endless
It’ll bring millions of eyes to $ETH with even big companies being able to easily deploy their intellectual property in a verifiable, *understandable* manner
This is huge.
The network effects of this for gaming should not be understated
We saw it before with $AXS, but could you imagine it with Pokémon?
With a synergy of NFTs and players of the game, all of the entities involved are inclined to keep developing it to the greatest of their ability
This also ties into the aspect of digital ownership.
Gaming is where people will start demanding ownership of digital assets, and the entire internet is where it ends.
Ask yourself: do you actually own ANY of your content you think you do online?
(the answer is most likely no)
Then there’s the metaverse.
As augmented & virtual reality technology become more common, digital ownership will grow to have a whole new meaning
With NFTs we have a universal consensus other platforms can rely on to build out the interoperable internet
All of these unique features possible are a direct tribute to the programmable mechanics that $ETH offers
Evidently, GameStop is no stranger to this, and it will be very exciting to see what they release!
Regardless, I’m sure you all can tell that GameStop is preparing to take the gaming industry by storm with NFTs on $ETH
Both the gaming and blockchain ecosystems go hand in hand, and they are not the only ones who see it coming.
GameStop even owns a massive performance center that they have dedicated specifically for hosting all kinds of competitive gaming events for their business! 👀
thestardistrict.com/tenants/comple…
The things listed here are why we are now starting to see big players in the community take action in the gaming industry
GameStop may be laying out the framework for widespread adoption of $ETH
This will prove to have extraordinary network effects.
I hope you all enjoy! 🥐
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