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Video game retailer GameStop, whose shares kicked off the meme-stock trading frenzy last January, is poised to enter the NFT and cryptocurrency game as well.

Gamestop will launch divisions focused on developing a cryptocurrency business and non fungible token marketplace as part of a turnround plan. The move was first reported by the Wall Street Journal.

GameStop shares jumped 22 per cent in after-hours trading to $159.

Gamestop plans to establish cryptocurrency partnerships as well as develop games that use blockchain and NFT technology, WSJ reported.

The retailer’s share price is up more than 600 per cent from a year ago, but down 62 per cent from its high last January. Despite its popularity with retail investors, the company has struggled as the pandemic continues to batter bricks-and-mortar retailers.