GameStop Soars on NFT Market Plan as Cohen Maps Turnaround (1)

GameStop Corp. plans to launch a marketplace for nonfungible tokens for gamers by the end of the year, according to a person familiar with the matter.

Shares of the beleaguered gaming retailer were up about 20% in New York premarket trading Friday, continuing the momentum of after-hours activity that followed Thursday’s close.

The company, which is in the midst of a turnaround to focus on digital sales rather than brick-and-mortar shops, is also in talks with crypto and blockchain companies about which tokens could be used on the NFT marketplace, the person said, asking not to be named discussing details ...