The cryptocurrency exchange FTX revealed on Monday in a teaser the beginning of its gift card relationship with GameStop, signaling what may soon be a merger of bitcoin and gaming. The exchange is about to start the new relationship after recently working with Visa to introduce debit cards in 40 nations. Given Gamestop's size and influence, the change might have a significant impact. The FTX Visa relationship was initially a fantastic fusion of the gaming and cryptocurrency industries.
The cryptocurrency exchange gave only a few details about the partnership in a teaser tweet. "It's coming," the teaser caption stated, implying a prospective alliance shortly. It's interesting to note that the FTX Gamestop agreement will include both retail sales and digital participation. The crypto exchange run by Sam Bankman-Fried announced that it would sell FTX gift cards in Gamestop's physical stores.
Gift Cards for FTX at Gamestop Stores
Through their collaboration, FTX and Gamestop will boost e-commerce and marketing initiatives. A statement claims that some GameStop locations will start selling FTX gift cards. This occurs when FTX prepares to introduce its own stablecoin. Sam Bankman-Fried, the CEO of FTX, recently disclosed that the company intends to launch its own stablecoin.
“FTX gift cards will also be available in some GameStop stores. With the agreement, GameStop will ensure that FTX becomes the preferred retail partner in the U.S.”
FTX previously acquired approval to run a cryptocurrency exchange in the UAE. The squad declared:
“FTX is officially live in the UAE! As the first licensed crypto exchange in the UAE, we’re super excited to expand our operations and grow FTX’s presence in the region.”
Entry of Gamestop Into Crypto
The collaboration also represents Gamestop's entrance into the cryptocurrency market, a significant turning point for the company. On September 7, the initial announcement was made. Gamestop stated at the time that it wished to introduce more of its users to the cryptocurrency world.
“The partnership is intended to introduce more GameStop customers to FTX’s community and its marketplaces for digital assets.”