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GameStop is building a non-fungible token (NFT) platform on Ethereum

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According to a report, game retailer GameStop has unveiled a new web portal for a non-fungible token (NFT) platform on the Ethereum blockchain.

The page declares the following:

“We are forming a team. We welcome exceptional engineers (robustness, reaction, python), designers, gamers, marketers, and community leaders. If you want to join our team, send your profile or something you have created to: (email protected) ”.

At the moment, the scope of the project is unclear, but a link to an Ethereum address is shown on the page, indicating that the Ethereum blockchain is the base chosen by the GameStop team for the project.

According to The Block, the smart contract code proclaims "Game On Anon" and links to GameStop's NFT page and indicates that potential NFTs released by GameStop will use Ethereum's ERC721 standard. The same code also points to a dedicated token, GME.

As for the target audience for any non-fungible token (NFT) offering arising from the GameStop team, an animated image on the page reads “Power to Players. Power to creators. Power to collectors ”.

About non-fungible tokens (NFT)

A non-fungible token (NFT) is a unit of data stored in a digital ledger called a blockchain, which certifies that a digital asset is unique and therefore not interchangeable.

NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. However, access to any copy of the original file is not restricted to the purchaser of the NFT.

Although copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with proof of ownership that is separate from copyright.



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