Last year, GameStop (GME) made a fascinating move when it decided to delve into the NFT business. The gaming retailer created its own crypto wallet for users to store their digital funds and established an NFT marketplace in association with Loopring. A new group of employees were brought on to aid in the development and maintenance of GameStop’s NFT marketplace, and one of them has now left the company. A designer known as “Spike” has announced their departure from GameStop.
Spike, who goes by @nftspike on Twitter, shared that they had left GameStop (GME) in a tweet earlier today. The announcement was brief, and didn’t provide any details on the circumstances surrounding their departure or what caused it. “I don't work for GameStop anymore.” Spike goes on to plug one of their independent NFT projects in the tweet.
With the lack of details in Spike’s announcement, it opens the door for some speculation around not only their cause for leaving, but the current state of GameStop’s NFT ventures. Spike was a UI designer on GameStop’s NFT Wallet. Originally available for PC, GameStop’s NFT Wallet came to iOS in November of last year.
The last major development from GameStop in regards to its NFT and crypto business was when the company severed ties with FTX after the crypto exchange’s infamous collapse last fall. Since then, GameStop has made little mention of its wallet or NFT marketplace, which has led some to wonder if the company is scaling back its efforts in that field. It’s worth noting that FTX’s collapse had a reverberating negative effect across the crypto industry, not just on its partners.
Spike didn’t share any details about why they left GameStop (GME), but perhaps that information will come down the road. With GameStop set to share its next earnings report this week, we could be hearing updates about the company’s NFT business sooner rather than later.