GameStop Closes its NFT Marketplace

GameStop, a popular gaming retailer, has issued a warning to its users that it will be gradually discontinuing its non-fungible token (NFT) marketplace next month due to uncertainty surrounding regulations.

The company has given its users two weeks to access the platform before it is phased out. However, GameStop reassures NFT holders that their assets will not be affected by this decision and can still be sold through other platforms.

The reason for this action is the lack of clear regulations in the crypto industry, cited by GameStop as the cause for scaling down its crypto-related services.

Despite this, the recent approval of 11 spot Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) is seen as a positive indication that regulators are becoming more open to further regulation in the space.