GameStop NFT Ups the Ante With New Ex-Robinhood Hire.

With its new non-fungible token marketplace, GameStop’s $GameStop(GME.US)$ turnaround plan is coming to fruition. The company has gone from a brick-and-mortar video game retailer to a force within the Web 3.0 and blockchain niches. This isn’t a surprising turn; while physical stores have fallen drastically out of consumer favor, the blockchain world has exploded in popularity — so much so that dozens of companies are trying to break into it. And one of these companies, Robinhood $Robinhood(HOOD.US)$ , just had a key player stolen from them by GameStop NFT.

After a year and a half of impatient waiting, the finale of GameStop’s aggressive reorganization campaign is here. This campaign is a result of Chairman Ryan Cohen, brought into the company to lead the initiative after GME stock saw its massive retail frenzy in early 2021.

Cohen drew massive hype among GME stock owners by promising a completely new GameStop. However, these investors had no idea what shape the company would take. By first aggressively tapering GameStop’s debt, Cohen helped to boost the fundamental value of the company. Then, after going nearly completely silent, rumors began swirling about the flashy new project that would help bring GameStop back to the cutting edge: its NFT platform.

The company formally announced its pursuit of Web 3.0 technologies in early February with its Immutable X $International Money Express(IMXI.US)$ partnership. In March, it confirmed its approaching NFT marketplace launch. And earlier this month, the public rollout of the product began.

There’s plenty of immediate success to show for the platform, with GameStop processing over $7 million in transactions across the marketplace in its first week. There’s also plenty of controversy as GameStop fails to keep offensive content off of this platform. And the company is stirring up chatter once again as it poaches talent from Robinhood.