GameStop is now seeking analysts trained in Blockchain, Cryptocurrency and NFTs.
Now that GameStop is on the hunt for a security analyst skilled in crypto, will they finally venture into the wild world of decentralized finance?
GameStop, the video game store and Reddit forum r/WallStreetBets’ favorite stock, placed an ad last Friday for a security analyst skilled in crypto, blockchain, and NFTs, showing that the company might soon venture into the world of decentralized finance.
The vacancy requested that the analyst must have ‘skills and experience’ in the tech. To be qualified for the role, the applicants must have a bachelor’s degree or more than five years of relevant work experience, and must be available at all hours.
Some desirable qualities for the analyst, who will work in the company’s headquarters of Grapevine, Texas, include machine learning, artificial intelligence, e-commerce, esports, and malware analysis.
Nako Mbelle, founder and CEO of FinTech Recruiters, a Canadian recruitment firm that specializes in crypto hires, stated that there is a huge demand for product managers and software engineers who are trained in decentralized finance.
Mbelle added that GameStop’s security analyst position can mean that the company is looking to mint NFTs or that it will be adding a token to its platform.
“This position looks like they’re building something serious because they are considering the security angle,” stated Mbelle. There is no need to protect something that doesn’t exist, after all.
NFTs, the crypto collectibles that are made popular in the art world, have a promising future in online games. For instance, they could represent in-game items, and confer the exclusive rights to use a digital sword or accept an in-game quest.
GameStop’s Deal
GameStop rose to public fame in late January when grassroots investors have coordinated on Reddit’s r/WallStreetBets to frantically buy its shares. This eventually pushed up prices, forcing hedge funds to buy up even more – a trading activity known to be short-squeeze.
The stock price, which eventually rose from $40 to $492 in just a week, revised interest in GameStop, a brick-and-mortar store that has struggled to compete with game stores online.
To create the most from the freak opportunity, GameStop formed a team in March to “identify initiatives that can further accelerate the company’s transformation.”
The transformation team includes Ryan Cohen, the former CEO of pet supplies company Chewy, Ian Attal, Chewy’s former CMO, and Gamestop director Kurt Wolf.
The job post indicates that crypto is in the process. With crypto, Mbelle stated that GameStop might court investors familiar to the r/WallStreetBets crowd.
“If GameStop can capture the crypto crowd in the same way they’ve done with the Reddit crowd, they might be able to duplicate the run-up of their stock as they did a few months ago,” stated Mbelle.
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