FTX US, a leading marketplace for digital assets, has entered into a partnership with GameStop Corp with the aim of increasing the number of GameStop customers that have access to FTX’s community and marketplaces.
Joining Forces with Leaders
There is no doubt that FTX Exchange is one of the leading centralized crypto exchanges that specializes in derivatives and leveraged products. As a result of FTX’s establishment in 2018, founded by former Jane Street Capital international ETF trader Sam Bankman-Fried, MIT graduate and former International Exchange-Traded Funds trader at Jane Street Capital, customers have the option to trade derivatives, options, volatility products, and leveraged tokens.
Crypto investors of all skill levels are attracted to the FTX platform because the company offers a wide range of products and easy-to-use desktop and mobile trading apps, enabling them to trade even at a novice level. From basic market orders to more complex trailing stop orders, FTX’s platform offers a comprehensive range of order types that can be used to execute orders.
As part of its cryptocurrency trading services, FTX offers spot markets in more than 100 cryptocurrency trading pairs, including BTC/USDT, ETH/USDT, XRP/USDT, and FTT/USDT, its native token.
This summer, GameStop launched its new NFT marketplace, which drew huge volumes that exceeded Coinbase’s (COIN) volumes, which were launched in May.
Furthermore, GameStop will begin to carry FTX gift cards in select stores as part of its collaboration with FTX on new eCommerce and online marketing efforts. The partnership will be in place until the end of 2012, during which time GameStop will be FTX’s preferred retail partner in the US.
Currently, there is no information available about the financial terms of the partnership. However, it is a sure way for the two companies to increase their user base.
In order to expand its involvement in the crypto industry, GameStop intends to be more active than ever before. The latest partnerships, like what happened with FTX, can help this company expose itself more in the industry.
In recent years, there has been a great deal of expansion in the gaming ecosystem. The use of digital collectibles in games and its connection to the NFT industry can have big effects on companies such as GameStop due to their relationship with the NFT industry.
Still, many experts may still think that the market conditions are not optimal at the moment; that we should wait a few more months or even a couple of years before we can anticipate these actions to start to bear fruit.