GameStop stock falls after launch of NFT Wallet

The GME shares of GameStop Corp are trading slightly lower on Monday. Following a wallet announcement, the stock surged in the pre-market trading but turned negative and pulled back in the open during Monday's regular trading session.

On Monday morning, GameStop announced the launch of its new digital asset wallet, which will allow gamers to store, send, receive and use NFTs across decentralized apps without having to leave their web browsers.

The GameStop Wallet is a self-custodial ETHUSD wallet. A wallet extension is available for download on Alphabet Inc's GOOG Chrome Web Store.

GameStop said the wallet extension will allow transactions on the company's NFT marketplace, which is expected to launch in the second quarter.

The stock was down 0.78% at $94.90 at press time, according to data from Benzinga Pro.