GameStop’s crypto period brings FTX reward playing cards to its online game shops


GameStop is doubling down on crypto, and as a part of its rising enlargement into blockchain applied sciences, it introduced a brand new partnership with crypto alternate FTX on Wednesday.

The 2 firms haven’t spelled out too many particulars about what the partnership will really imply, however they did share just a few tidbits. In accordance with a press launch, “the partnership is meant to introduce extra GameStop clients to FTX’s neighborhood and its marketplaces for digital property.”

One concrete side of the partnership is that GameStop will begin carrying FTX reward playing cards in “choose shops.” GameStop can also be FTX’s “most well-liked retail companion” within the US, which might counsel that FTX will promote different kinds of products at GameStop in some unspecified time in the future.

The partnership arrives on the heels of GameStop’s headfirst dive into crypto, which has to this point included the launch of its personal NFT market and its personal crypto pockets. The corporate additionally just lately laid off employees, and in a memo to staff concerning the cuts, CEO Matt Furlong highlighted the corporate’s blockchain group within the very first sentence.

By partnering with FTX, GameStop appears to be signaling that it’s nonetheless severe about crypto — however the alliance might additionally assist each firms as they try and navigate the so-called crypto winter. As costs of digital property plunged earlier this 12 months, FTX CEO and co-founder Sam Bankman-Fried have tried to bail out some struggling crypto firms like Voyager and BlockFi, although he mentioned just lately these investments have had “blended” outcomes.

GameStop isn’t the one firm to just lately companion with FTX; Reddit has additionally teamed up with the crypto alternate, whereas FTX has spent extensively on adverts in the course of the Tremendous Bowl and sponsored numerous sports activities groups / leagues in makes an attempt to boost its profile. Final 12 months, FTX paid $135 million to rename the Miami Warmth’s residence American Airways Enviornment to FTX Enviornment, nicely earlier than Crypto.com signed a $700 million deal for naming rights on the LA Lakers’ residence courtroom, beforehand often known as Staples Heart.

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GameStop is doubling down on crypto, and as a part of its rising enlargement into blockchain applied sciences, it introduced a brand new partnership with crypto alternate FTX on Wednesday. The 2 firms haven’t spelled out too many particulars about what the partnership will really imply, however they did share just a few tidbits. In…