GameStop Shuts Down NFT Marketplace Amid Broader Crypto Downturn and Shift Toward Affordable, Useful NFTs
• GameStop shut down its NFT marketplace on February 2nd amid broader declines in crypto and NFT prices • NFT trading volume has soared 445% while prices plummet, indicating interest in more affordable NFTs • Users are shifting focus from speculative high-value NFTs to more accessible and diverse digital assets • GameStop struggled to compete as the NFT market evolved towards utility over speculation • Twitter also moved away from NFT profile pictures, aligning with industry trends valuing practicality