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GameStop shares jump 3% premarket after company launches wallet for cryptocurrencies and NFTs

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Cryptocurrency
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Videogame retailer GameStop Corp. shares GME, +0.49% rose 3% in premarket trade Monday, after the company said it has launched a wallet for cryptocurrencies and NFTs, or non-fungible tokens. The company said the move allows gamers to store, send, receive and use cryptocurrencies and NFTs across decentralized apps without having to leave their web browsers. "The GameStop Wallet is a self-custodial Ethereum wallet," the company said in a statement. The wallet extension, which can be downloaded from the Chrome Web Store, will enable transactions on GameStop's NFT marketplace, which is expected to launch in the second quarter of its fiscal year, said the statement. GameStop shares have fallen 35.5% in the year to date, while the S&P 500 SPX, +1.86% has fallen 18%.

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