GameStop Buys Bitcoin, More Ethereum Games Close Up Shop

It is robust to maintain tabs on the ever-changing crypto gaming area, because of the fixed move of stories: every little thing from huge recreation launches and enjoyable degen experiments to token value swings and occasional challenge collapses. It is so much to observe.

Fortunately, we’re plugged in at Decrypt‘s GG. We cowl the most important happenings all through the week, after which this weekly roundup gives a fast technique to catch up, in addition to discover a bunch of different little bits of stories from all through the week.

High tales

GameStop buys Bitcoin: GameStop, the online game retailer that is made waves lately as a meme inventory, introduced Wednesday that it bought 4,710 Bitcoin, price $512 million on the time, to ascertain a company Bitcoin treasury. This follows a $1.5 billion convertible notes providing that closed at the beginning of April, after the corporate mentioned in late March that it might add BTC as a reserve asset.

CEO Ryan Cohen mentioned he views Bitcoin as a hedge towards foreign money devaluation and systemic danger, and added that he will not reveal future buy timing or technique. GameStop joins different public firms following Technique’s Bitcoin playbook, together with Tesla and crypto mining companies holding billions in Bitcoin. Different firms are diversifying past Bitcoin, with SharpLink Gaming just lately elevating $425 million to purchase Ethereum.

GameStop grew to become a meme inventory in 2021 when Reddit customers triggered a large brief squeeze towards hedge funds. Cohen acknowledged in an interview at Bitcoin 2025 this week that the corporate was struggling when he joined in 2021, dealing with strain from the shift to digital recreation downloads.

Shares in GameStop (GME) fell sharply on Wednesday, down 11% by the tip of buying and selling, and continued sliding on Thursday. On Friday, rose lower than 1% to complete beneath a value of $30, down virtually 3% over the past week.

Extra video games go offline: Two Ethereum-based video games on the Ronin community, Realms of Alurya and Surprise Wars, have gone offline on account of funding difficulties, highlighting broader struggles in crypto gaming.

Hi there Monster, developer of Surprise Wars, mentioned it could not safe crucial funding for continued stay service operations or obtain sustainable profitability metrics. The workforce determined towards launching its utility token, calling it dishonest to depend on pure hypothesis.

Realms of Alurya faces related closure after claiming that writer Treasure abruptly terminated its exclusivity contract and funding assist, amid Treasure’s current restructuring and pivot to AI. The builders admitted that over-reliance on their writer was a mistake, saying they have been “shocked” by the sudden funding withdrawal that derailed their yearly roadmap.

These shutdowns replicate a rising pattern in crypto gaming, with current closures together with Nyan Heroes, Ember Sword, The Thriller Society, and The Strolling Lifeless: Empires (set for a July finish), with generally cited points together with funding struggles and/or a scarcity of gamers. Gaming tokens have additionally struggled, with solely Immutable’s IMX remaining within the prime 100 cryptocurrencies by market cap.

ICYMI

• Bored Ape Yacht Membership maker Yuga Labs offered the Moonbirds IP to Orange Cap Video games, the startup behind Summary-based buying and selling card recreation, Vibes. Yuga is refocusing on the Apes after additionally just lately promoting the Meebits and CryptoPunks IP.

• Planet Mojo introduced that NFT auto-battler recreation Mojo Melee is shutting down efficient July 1 because the studio pivots to AI.
• This is a primary have a look at FIFA Rivals gameplay forward of the NFT cell recreation’s rollout this summer season.

• Solana meme coin bonk is teasing a recreation launch for Monday, developed by BR1 creator Bravo Prepared Video games.
• Avalanche-based hero shooter BloodLoop has resurfaced with plans to launch the 5v5 recreation this month.

• Gamified Telegram sleep app Sleepagotchi is launching on the LINE messaging app.
• Immutable-based recreation Treeverse is planning its token launch for this month.
• Off the Grid added a Cyberlancer limb that lets gamers drive a knee-mounted spike into opponents’ heads.

• Participant-vs-player shooter recreation Shatterline will probably be transformed right into a single-player expertise.
• Meme coin Floki is teasing a metaverse recreation rollout for June 30.