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Investing.com – Crypto exchange FTX, based on , has announced that it will now collaborate with gaming retailer GameStop (NYSE:). GameStop was on everyone’s lips last year as the Meme stock craze sent the publicly traded company’s price skyrocketing.
The success of the stock market, however, was not reflected in the company’s figures. On Wednesday, it even had to be announced that the quarterly turnover was down and that the losses were increasing. This is one of the reasons why management has been looking for new business opportunities and new partners.
FTX will now help GameStop develop new e-commerce and online marketing initiatives. At the same time, GameStop stores will allow customers to experience FTX’s range of services.
FTX CEO Sam Bankman-Fried has long pursued a strategy of no longer relying solely on the digital currency market. In recent months, he has acquired hundreds of stakes in traditional companies.
For GameStop, this partnership was just the next logical step, because with its own browser-based wallet and NFT marketplace, the company was already on its way to a digital future anyway. GameStop CEO Matt Furlong said:
“Our evolution into a more diverse, technology-focused company is of course risky and will take time. Nonetheless, we are confident that GameStop is a much stronger company than it was 18 months ago.”
By Marco Oehrl