What do you all think about the GS wallet going bye bye? Curious to see some points of view on this. I believe it is due to the SEC trying to shut down the crypto space unless the have their hand in every step of it and gamestop doesn’t care to deal with that drama.
Sharing some of my initial rambling thoughts I sent to my IRL shrewdness after the wallet news:
Yeah I think there is 100 percent wider regulatory games at play here. I do think it makes sense to focus on the marketplace and GameStop Playr (assuming there was an issue with running both the marketplace and the means of access (think DTCC + Broker)) then it makes sense to drop the wallet. Probably easier to partner with (and possibly acquire) the smaller companies already making this stuff than to try and bring that in house. I think we maybe found that out the hard way on the wallet side. Shitty but not largely material from a wider business perspective I don’t think (it even said in the last few quarterly reports that the Marketplace and NFT sales were immaterial at this time). Fail fast and small I suppose but I still wish I didn’t need to ditch it lol
At this stage there is still a lack of quality Web3 gaming content…but it’s coming and I have faith that GameStoo is positioning themselves well for when it’s ready.