Why GameStop Stock Is Rising After Hours

GameStop Corp GME shares are trading slightly higher in Monday's after-hours session after the company announced the highly-anticipated launch of its previously-announced NFT marketplace.

GameStop said its marketplace will allow gamers, creators, collectors and other community members to buy, sell and trade NFTs. The new NFT marketplace is a non-custodial, Ethereum ETH/USD Layer 2-based marketplace that enables parties to verify ownership of their digital assets on the blockchain. 

The NFT Marketplace will also allow individuals to connect their own digital asset wallets to the platform, including the recently launched GameStop wallet. GameStop said it plans to expand the marketplace functionality to encompass additional categories such as Web3 gaming, more creators and other "Ethereum environments."

GameStop is a U.S. multichannel video game, consumer electronics and services retailer. The company has expressed intentions to explore opportunities using blockchain technology. 

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GME Price Action: GameStop has traded between $255.69 and $77.58 over a 52-week period.

The stock was up 1.18% at $131.50 at press time, according to data from Benzinga Pro.

Photo: Mike Mozart from Flickr.