GameStop Now Accepts Crypto as Payment

GameStop Now Accepts Crypto

GameStop now accepts crypto as payment for purchases at their stores, with the retailer adopting payments via third party vendor Flexa.

While the news that GameStop now accepts crypto as payment (via Investor Place) for all purchases is definitely an unexpected decision from the retailer, the announcement is also odd.

“Enter the metaverse,” Flexa announced this week. “GameStop is now live on Flexa. To celebrate, we’ve also enabled support for Axie Infinity, Smooth Love Potion, MANA, and The Sandbox Game.” Perhaps they’re trying to capitalize on Facebook bizarrely renaming their parent company to Meta? Read more about that here.

A bit of backstory on GameStop’s wild stock valuation: earlier this year GameStop’s stock became somewhat of a meme when hedge fund brokers tried to short stocks and bankrupt the company, prompting Reddit users to rally and buy GameStop shares en masse, forcing the value to skyrocket and in turn bankrupt the hedge fund.

Flexas, as mentioned above, is a third party app that lets stores, restaurants, and other various businesses connect with cryptocurrency owners use their digital currency to pay for real goods and services in real life. So, in theory, you could pay for the upcoming Pokemon Legends: Arceus using any of the meme-level altcoins like Shiba Inu or Smooth Love Potion.

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