Gamestop's marketplace launches & PSG sells NFT tickets

All the way from the World Famous Decentra News Desk, today’s top NFT stories:

As you can see, we are extremely humble and really good-looking! Here are today's other top stories:

• Gamestop (GME) marketplace launch

• PSG enters the NFT space

• Top NFT sales of the day

Estimated read time: 2 minutes 40 seconds (bet you can't do it quicker)

GME NFT Marketplace is Live

After months of low-key activity and subtle teasing, the GME NFT Marketplace is now live as a public beta and reached over 1 mill USD in volume on opening day.

Running on Ethereum, it features some cool NFT art collections but no gaming NFTs yet (or much to differentiate it from existing marketplaces).

However, GME says Web3 games will come to the platform using Immutable X, a layer 2 of Ethereum (reduces gas fees). In May, the two companies launched a $100 million token fund to attract game developers.

Is this the start of Ryan Cohen’s GME revolution? It’s early, but GameStop could easily become a major player in blockchain gaming.

The catch – game developers can be highly protective over their IP. How is Cohen going to convince bigger studios to decentralize? Does he need to? Or will they come on their own? Two promising signs:

• Volume on launch day was impressive, soothing fears of a Coinbase NFT-style flop.

• GameStop says they “will work to support NFTs that originated off-platform” and “other Ethereum environments.”

Is this good for GME HODLers?

With the current NFT climate, don’t expect the marketplace to do much for GME stock.

Reaction on r/wallstreetbets is pretty cynical, while r/Superstonk is loving it. Here’s their Megathread on the whole story.

Things that should make you really excited about GME NFTs:

• Exclusive partnerships with bigger game franchises (characters, art, weapons, collectibles)

• A place for indie developers to get a fair price for their content

• Let you buy, play, and sell games on the blockchain

GameStop is offering its own wallet for NFT newbies and creators can apply to mint NFTs on the platform.

So if you want to use the GME marketplace we recommend getting their wallet.

Also – GME has a stock split coming next week, so we may get more announcements in the days ahead. Read the full press release from GameStop.

PSG is selling NFT tickets to preseason games

How many times have you seen a mainstream media article mention sports tickets as a real-world use case for NFTs? Probably not many!

Well, soccer team, Paris Saint-Germain is now offering NFT tickets for its pre-season friendlies in Japan in late July.

Alongside NFT collectibles, fans can choose from a variety of digital ticket options that come with perks like VIP access, luxury box seating, graphics & movies.

These are the type of use cases we envision for many NFTs, however, brands/teams need to realize NFTs don't need to be a cash grab.

At ¥ 30,000,000 or ~ 180 ETH ($187K USD) for the ultra-premium option (😱😱💵💵), we don’t think you’ll be seeing a great ROI – although the package does look awesome.

But the soccer preseason is traditionally a time for clubs to experiment with new models and strategies on and off the pitch – and it’s great to see a brand powerhouse like PSG embracing NFTs. If they do it, you can be sure that other major franchises will follow.

Several clubs have launched NFTs in the past year, including four different drops by Man City and the EPL recently filing for NFT-related trademarks. Last month, PSG also announced a collaboration with Mandopop superstar Jay Chou.

The move into NFT tickets is a welcome response to other recent French football news when fake tickets at the Champions League Final in Paris caused some ugly incidents between police and fans. A great opportunity for NFTs to showcase their security benefits.

Here’s the official PSG NFT marketplace.

Top NFT sales of the day

Here's today's top 3 NFT sales:

1. Cryptopunk #7209 - 220 ETH ($240,337.29)

2. Bored Ape Yacht Club #2189 - 150 eth ($164,335.91)

3. Bored Ape Yacht Club #955 - 129.4737 eth ($141,847)

Headlines of the day

• ECB Issues Three Reports in Effort To Pass Biggest Crypto Law in Europe

• ‘Move-to-Earn’ Game Stepn Renews Token Burn Amid Ethereum Expansion

• World’s rarest whisky to be auctioned as NFT starting at $75,000

Disclaimer: Nothing in this article/newsletter should be considered financial advice. The purpose is to inform readers of the current trends and news in the web3 space. We encourage every reader to do their own research and not act upon information put forth by Decentra Daily.