The NFT market, and other blockchain-associated grifts like cryptocurrency, are having a very bad month, as their perceived “value” evaporates and whatever actual monetary value they had falls through the floor. To which GameStop says: lol.
Princess Peach’s Leading Role And More New Releases
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Here’s what we wrote about the market’s troubles just last week:
And yet! The company chose today of all days to officially unveil its GameStop NFT marketplace with this statement, along with an empty website:
None of which actually means anything, of course, but then what else would you expect from a company run in 2022 largely as a meme (and which still treats its workers like shit). Or indeed from a business that is getting into NFTs now, long after it has become clear that nobody outside the laser-eyed technocult gives even a fraction of a shit about jpegs of apes.
Speaking of memes, GameStop made all kinds of headlines last year when hyper-capitalist stock kids started messing with the company’s share prices, got a “Reddit hero and former pet food tycoon” made chairman of the board of directors, and tried to turn the company into an Amazon-lite.
It worked, for a little while, though as other “meme stocks” collapse, GameStop—whose share prices are down 40% on the year—isn’t looking too great either. While things spiked briefly in April, leaping from $78 per share last month to over $185 in a single day, that hasn’t been enough to stop the company’s slow slide away from its 2021 heights.
