GameStop shares surge on plan to enter NFT, crypto markets

The video game retailer is undergoing a revamp, with Chairman Ryan Cohen tapping executives from companies including Amazon.com Inc to turn GameStop away from brick-and-mortar and towards e-commerce.

NEW YORK:: GameStop Corp is launching a division to develop a marketplace for nonfungible tokens (NFTs) and establish cryptocurrency partnerships, a source familiar with the matter said on Thursday, boosting the video game retailer's shares 27% in extended trading.

GameStop declined to comment. The Wall Street Journal first reported https://www.wsj.com/articles/gamestop-entering-nft-and-cryptocurrency-markets-as-part-of-turnaround-plan-11641504417?mod=latest_headlines the news citing people familiar with the matter.