GameStop is exiting the NFT space, shutting down its marketplace on February 2. The decision follows the discontinuation of its NFT wallet, attributed to crypto regulatory uncertainty. NFTs remain accessible on other platforms, marking a setback for traditional retailers entering crypto.

GameStop announced the closure of its NFT marketplace on February 2, just 18 months after launch. The video game retailer cited ongoing regulatory uncertainty as the reason, following the termination of its NFT wallet in September 2023. The move signals challenges for traditional firms entering crypto.

InfoFi tokens plunged after X banned apps that reward users for posting and revoked related API access. KAITO and COOKIE fell more than 20%, while the sector’s market value dropped over 10% in a day.

GameStop announced it will shut down its NFT marketplace on February 2, citing regulatory uncertainty. The retailer previously closed its NFT wallet and cashed out most of its IMX tokens. The move signals challenges for traditional companies entering the crypto space.

X revoked API access for apps that reward users for posting, triggering a sharp sell-off in InfoFi tokens. KAITO and COOKIE both fell more than 20%, while the sector lost over 10% of its market value in a day.

FedEx has joined the Hedera Council to help digitize global supply chains and move verification processes on-chain. The news lifted HBAR by over 7%, highlighting growing investor interest in enterprise blockchain adoption and real-world use cases.

InfoFi tokens plunged after X revoked API access for apps that reward users for posting. The move hit projects like KAITO and COOKIE, exposing the sector’s heavy reliance on centralized social platforms and raising doubts about its long-term model.

GameStop will shut down its NFT marketplace on February 2, 2024, following the earlier discontinuation of its NFT wallet. Citing regulatory uncertainty, the video game retailer ends a 1.5-year experiment, marking a strategic retreat from the crypto space.