Gamestop Corp. (GME) – GameStop partners with Crypto Exchange FTX:…

Gamestop Corp. (GME) – GameStop partners with Crypto Exchange FTX:…

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Large video game retailer GameStop Corp. GME has partnered with the cryptocurrency exchange FTX to bring more customers into the digital assets space.

What happened: GameStop and FTX announced the partnership in a press release Wednesday. The terms of the deal were not disclosed.

“The partnership is designed to introduce more GameStop customers to the community of FTX and its digital asset marketplaces,” GameStop said in a statement.

FTX is a digital currency exchange founded by Sam Bankman Friedwhich mainly offers trading Bitcoin BTC/USD, ether ETH/USD, Dogecoins DOGE/USD and a variety of other cryptocurrencies.

The agreement also sees GameStop and FTX collaborating on new e-commerce and online marketing initiatives. Additionally, GameStop will stock FTX gift cards in select stores and the video game retailer will be FTX’s preferred retail partner in the United States

GameStop’s L2 NFT Marketplace was started in July and has already climbed the ranks in terms of trading volume on decentralized non-fungible token marketplaces. In its opening week, GameStop’s NFT marketplace saw $7.2 million in trading volume, beating growth Coinbase Global Inc COIN All-time NFT trading volume as of this date, according to data compiled by CoinDesk.

GameStop Stock increased by 13% in after-hours trading following the announcement of second-quarter results. Although the company reported second-quarter sales of $1.136 billion, which missed a Street estimate of $1.27 billion, the company highlighted the $233.2 million in sales from its growing collectibles category , which increased from $177.2 million in the same period last year.

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