GameStop short squeezeIn January 2021, a short squeeze of the stock of the American video game retailer GameStop () and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, although a number of hedge funds also participated.
Xbox networkThe Xbox network, formerly branded as Xbox Live, is an online multiplayer gaming and digital media delivery service created and operated by Microsoft for the Xbox brand. It was first made available to the original Xbox console on November 15, 2002. An updated version of the service became available for the Xbox 360 console at the system's launch in November 2005, and a further enhanced version was released in 2013 with the Xbox One. This same version is also used with Xbox Series X and Series S.
Non-fungible tokenA non-fungible token (NFT) is a unique digital identifier that is recorded on a blockchain, and is used to certify ownership and authenticity. It cannot be copied, substituted, or subdivided. The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded. NFTs can be created by anybody, and require few or no coding skills to create. NFTs typically contain references to s such as artworks, photos, videos, and audio.
Steam (service)Steam is a video game digital distribution service and storefront from Valve. It was launched as a software client in September 2003 to provide game updates automatically for Valve's games, and expanded to distributing third-party titles in late 2005. Steam offers various features, like digital rights management (DRM), game server matchmaking with Valve Anti-Cheat measures, social networking, and game streaming services.
RedditReddit (ˈrɛdᵻt) is an American social news aggregation, content rating, and discussion website. Registered users (commonly referred to as "redditors") submit content to the site such as links, text posts, images, and videos, which are then voted up or down by other members. Posts are organized by subject into user-created boards called "communities" or "subreddits". Submissions with more upvotes appear towards the top of their subreddit and, if they receive enough upvotes, ultimately on the site's front page.
PlayStation (console)The PlayStation (abbreviated as PS, commonly known as the PS1/PS one or its codename PSX) is a home video game console developed and marketed by Sony Computer Entertainment. It was released in Japan on 3 December 1994, in North America on 9 September 1995, in Europe on 29 September 1995, and in Australia on 15 November 1995. As a fifth-generation console, the PlayStation primarily competed with the Nintendo 64 and the Sega Saturn.
KotakuKotaku is a video game website and blog that was originally launched in 2004 as part of the Gawker Media network. Notable former contributors to the site include Luke Smith, Cecilia D'Anastasio, Tim Rogers, and Jason Schreier. Kotaku was first launched in October 2004 with Matthew Gallant as its lead writer, with an intended target audience of young men. About a month later, Brian Crecente was brought in to try to save the failing site. Since then, the site has launched several country-specific sites for Australia, Japan, Brazil and the UK.
