GameCease’s NFT market is formally reside as of July 11, 2022. Users who’ve arrange their GameCease wallets at the moment are free to fill them with NFTs from {the marketplace}, together with any Ethereum they’ve put aside for this massive day.
So how’s it doing? Well, financially talking, fairly good. Reports from GameCease evaluation Twitter account GMEdd point out that inside 12 hours, {the marketplace} has grossed effectively over $1 million in buying and selling quantity.
GMEdd additionally cited MetaBoy as {the marketplace}’s highest-grossing assortment, netting over $100 thousand in gross sales throughout the market’s first few days on-line. One piece within the assortment even options an asking value of over $2 billion, although it’s unlikely it’ll truly promote for anyplace shut to that quantity.
GameCease’s bullish continued run into NFTs and Web3 as a complete follows two key bulletins surrounding the once-beleaguered video games retailer. First is its incoming four-for-one inventory break up set to take impact on buying and selling flooring this July 22. While this transfer (together with the promising early returns of its NFT market) might lure extra buyers to the corporate, solely time will inform if it’s going to lead to long-term success.
The transfer additionally follows early July experiences relating to huge layoffs throughout the firm’s company sector because it continues to push towards slicing prices and maximizing its present Web3 technique. These layoffs additionally included the departure of its CFO Mike Recupero, in addition to a number of workers of GameCease-owned journal Game Informer.
With the timing of its layoffs, and the present struggles confronted by the NFT market, some customers have been left disillusioned by GameCease’s aggressive Web3 technique.
Some are even down on the technique totally, with Forbes contributor Paul Tassi writing a scathing indictment of the brand new market, calling it an “OpenSea knockoff [… full of] memers running around listing garbage art JPEGs for millions of dollars.”
With preliminary reception so combined,it stays to be seen if GameCease shall be in a position to style the highs it noticed throughout its time as a meme inventory in early 2021.
