Last year, GameStop laid off employees and tried to chase crypto and NFTs. So, how is the company’s trip into the blockchain working out? Oh … oh, no.
According to the GameStop Wallet website, the company is abandoning its cryptocurrency wallet on iOS and Chrome as of November 1, 2023.
In case the screenshot doesn’t load, here’s what the notification says:
“Due to the regulatory uncertainty of the crypto space, GameStop has decided to remove its iOS and Chrome Extension wallets from the market on November 1, 2023. We advise that all customers ensure that they have access to their Secret Passphrase by October 1, 2023. Any customer with access to their Secret Passphrase has the ability to recover their account in any compatible wallet.“
Regulatory uncertainty is a pretty vague reason. If GameStop were serious about competing in this space, it would be a good idea to publish a list of politicians who were looking to regulate the decentralized currency market and have customers take action via writing and calling to express concerns.
The wallet allowed customers to buy and sell crypto from GameStop’s marketplace, such as Ethereum and NFTs. Were you even aware that GameStop sold digital currency or non-fungible tokens?
A cursory search of GameStop’s crypto dealings on YouTube brings up so few results that aren’t reaction channels dunking on the gaming store’s decision. The most we could find that was from a trusted source was found on CNBC.
A year ago, NFT and crypto projects were sprouting up almost daily. While some made a mint, most people weren’t as lucky.
It could be worse. Over the past few years, several celebrities and “gurus” have swindled unsuspecting crypto enthusiasts out of thousands. We recently learned that even after promising to refund customers, Logan Paul still hasn’t made good on his word.
[Source: CNBC] [Source: GameStop]ClownfishTV.com strives to be an apolitical, balanced and based pop culture news outlet. However, our contributors are entitled to their individual opinions. Author opinions expressed in this article do not necessarily reflect the views of our video hosts, other site contributors, site editors, affiliates, sponsors or advertisers. This website contains affiliate links to products. We may receive a commission for purchases made through these links. We disclaim products or services we have received for review purposes, as well as sponsored posts.
