Episode 157: Gamestop NFTs, Coinbase NFTs

GameStop (GME) said in its fiscal fourth-quarter earnings report that it intends to launch a non-fungible token (NFT) marketplace by the end of July. In February, GameStop, one of the original meme stocks, said it would be partnering with layer 2 system Immutable X for the launch of its NFT plans. In its earnings release, GameStop said the partnership would provide it with up to $150 million in Immutable X IMX tokens upon achievement of certain milestones. Cryptocurrency exchange Coinbase (COIN), in a bullish case, could see an additional $1.26 billion in revenue through its non-fungible token (NFT) segment, Needham equity research analyst John Todaro said in a note to clients Thursday. While Coinbase’s NFT business hasn’t officially launched for users, CEO Brian Armstrong said during the recent earnings call the market was ripe. As far back as last autumn the company reportedly had more than a waiting list of 1 million customers for its NFT marketplace. The major competitor is OpenSea, which has first mover advantage and user familiarity. The difficulty of mining a bitcoin (BTC) block dropped 0.35% on Thursday, the second time this month, after a consistent climb since November. On March 3, mining difficulty dropped 1.5%, data from information platform Glassnode shows. The difficulty adjusts automatically relative to the computing power on the network, also known as the hashrate, to keep the time between each mined block relatively stable at 10 minutes. The bitcoin mining hashrate has dropped from an all-time high in February of 248 exahash/second (EH/s) to 216 EH/s on March 17, according to Glassnode data. 📚Books: https://www.amazon.com/s?k=reginald+seay&crid=XNP2FB40Q3TH&sprefix=reginald+seay%2Caps%2C232&ref=nb_sb_noss 📚 Course: https://market-marauders-complete-guides.teachable.com/p/the-complete-guide-to-cryptocurrency 📚Website: www.marketmarauders.net 🦩Twitter: @yourequest 😎Instagram: market_marauders 📧Email: [email protected] 🚧 DISCLAIMER🚧 I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read and/or view and/or hear on the channel.