GameStop Corporation (NYSE: GME), the renowned video game and merchandise retailer, is set to expand its offerings in the Web3 gaming space through a partnership with the Telos Foundation.
Telos, a leading blockchain company, will provide the necessary infrastructure on its blockchain to support GameStop’s Web3 gaming launchpad called Playr.
The aim of this collaboration is to attract new users by eliminating barriers and enhancing performance in the Web3 gaming industry.
Telos and GameStop Collaboration for Web3 Gaming
In an official press release, GameStop and the Telos Foundation unveiled their partnership, highlighting their joint mission to bring accessible gaming experiences to the Web3 world.
Telos will connect Web3 games on its blockchain through GameStop’s Playr platform. This strategic integration will provide a gateway for users to explore the potential of Web3 gaming while leveraging the high-performance blockchain infrastructure offered by Telos.
Breaking Down Barriers to Web3 Adoption
The collaboration between GameStop and Telos aims to overcome the challenges currently hindering widespread adoption of Web3 gaming.
By combining GameStop Playr with Web3 games powered by Telos’ blockchain, the two companies believe they can address performance issues and encourage Web2 players to embrace the Web3 ecosystem.
AJ Dinger, Head of Business Development at the Telos Foundation, expressed enthusiasm about the transformative impact of this collaboration, stating:
“We are thrilled to enter into this transformative collaboration with GameStop. We believe this collaboration will be a meaningful driver of new users into the Web3 space.
By combining GameStop Playr with Web3 games utilizing Telos’ high-performance blockchain infrastructure, we can break down many of the barriers currently deterring Web2 players from embracing Web3.”
GameStop’s Diversification Efforts
The partnership between GameStop and Telos exemplifies GameStop’s ongoing efforts to diversify its business beyond traditional brick-and-mortar retail. In previous ventures, GameStop partnered with FTX.US to explore e-commerce and online marketing initiatives.
Additionally, GameStop ventured into the realm of non-fungible tokens (NFTs) with the launch of its NFT marketplace. The marketplace, built on Ethereum, allows creators and gamers to trade NFTs representing virtual assets.
