The video game retailer recently partnered with Immutable X to develop its NFT initiative.
GameStop said in its fourth-quarter financial earnings report that it plans to launch the NFT marketplace by the end of July.
GameStop announced in February that it has partnered with Immutable X, its layer 2 system for NFT plans. In its earnings release, the company stated that the partnership will provide up to $150 million in IMX tokens upon achievement of certain milestones.
The company also highlighted that it hired dozens of people with experience in fields such as blockchain gaming, e-commerce and technology in the fourth quarter.
The company reported an overall loss of $1.94 per share. It reported revenue of $2.25 billion, compared to analysts’ estimate of $2.16 billion.
GameStop shares fell 10% in aftermarket trading on Thursday.
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