GameStop has joined forces with the Telos Foundation to develop a new Web3 game launcher, GameStop Playr. The ultimate goal of this venture is for the platform to distribute AAA Studio games using the Telos blockchain as the fundamental infrastructure, according to Telos Chief Marketing Officer Peter Nguyen. Although GameStop Playr is not yet live and no compatible games have been revealed, interested parties can sign up for a waitlist.
As a well-known brick and mortar game retailer, GameStop shifted its focus towards cryptocurrency following the r/wallstreetbets short squeeze, which sent its stock soaring in January 2021. By January 2022, the company had established an NFT and crypto division. Shortly after, GameStop partnered with Immutable X to launch its own NFT marketplace, quickly surpassing $1 million in trading volume within the first 24 hours.
For the time being, games compatible with the Telos blockchain can be distributed through GameStop Playr, as stated by Telos. Some examples of games that are already integrated or “close to fully integrated” on the Telos blockchain include gambling platforms W3Poker and OwlDAO, as well as mobile game Monkey Empire. However, Nguyen clarified that there is no guarantee these specific games will be accessible via GameStop Playr.
The Telos Foundation’s Head of Business Development, AJ Dinger, believes that this collaboration will attract new customers to the Web3 gaming scene. He emphasized that the combination of GameStop Playr with Web3 games leveraging Telos’ high-performance blockchain infrastructure has the potential to eliminate several existing barriers that discourage Web2 players from transitioning to Web3.
Despite the positive outlook, shares of GameStop (GME) remained relatively unchanged upon the announcement of the partnership. As the gaming industry continues to explore and integrate blockchain technology, the ability to seamlessly distribute games and create innovative Web3 platforms will become increasingly important. While there is still some skepticism in the market regarding the potential of blockchain in gaming, partnerships like this one may help to reassure hesitant investors and lead to long-term growth and success for both GameStop and the Telos Foundation.
In conclusion, the collaboration between GameStop and the Telos Foundation has the potential to drive significant advancements in the gaming and blockchain sectors. The development of the GameStop Playr Web3 game launcher may serve as a stepping stone towards creating a seamless and accessible experience for gamers and non-gamers alike to benefit from blockchain technology. However, the market response and investor confidence will ultimately determine whether this bold move will become a successful and widely adopted initiative in the rapidly growing world of Web3 gaming.
Source: Blockworks
