GameStop Unveils Beta Crypto Wallet And Upcoming NFT Platform

GameStop, an American electronics retailer, has entered the cryptocurrency world by releasing a customized blockchain wallet with nonfungible token (NFT) capabilities. 

iexclusivenews reports that through a self-custodial browser plugin based on the Ethereum blockchain. Players will be able to purchase, send, and store Ether (ETH), ERC-20 tokens, and NFTs. A smartphone app is also being developed. 

This online news outlet understands that the wallet will be powered by Ethereum’s Loopring layer-2 scaling protocol. Which is built for decentralized exchanges and offers high throughput, low-cost trading, and payment capabilities. 

The wallet extension will be available for download and installation through the Chrome Web Store. GameStop Wallet will integrate with its future NFT marketplace. Which is set to open in the second quarter of the company’s financial year, similar to MetaMask’s Chrome plugin. 

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It’s official! The GameStop Wallet is here.

Download: https://t.co/dK2dmRmwRI

🧵👇

— GameStopNFT (@GameStopNFT) May 23, 2022

In February 2022, GameStop announced a collaboration with ImmutableX. With the Ethereum NFT scaling platform being chosen to build the famed brick-and-mortar video game retailer’s unique NFT marketplace. 

Related: GameStop looks toward NFT marketplace launch after big Q4 loss 

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What You Should Know

iexclusivenews Nigeria reports that the marketplace would be carbon-neutral, with no gas taxes, according to a statement made earlier this year. In order to entice potential NFT content producers and developers. The two businesses have agreed to a $100 million award program. Which will be rewarded in IMX tokens. 

The NFT transition at GameStop has been in the works since May 2020, when the company first advertised for software developers with Solidity, React, and Python experience to join its team.  

The layer-2 scaling protocol released a test version of the Loopring-powered GameStop NFT marketplace in March 2022. 

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As Web3 continues to flourish, noncustodial, multichain cryptocurrency wallets are proving to be a crucial focal point for companies wishing to set strong roots.  

A major cryptocurrency exchange in the United States in May 2022. Coinbase combined Web3 application capability with a wallet and browser for a limited number of its mobile app users.  

Trading on NFT markets, token swaps on prominent Ethereum-based decentralized exchanges like Uniswap and OpenSea. And access to decentralized finance lending protocols will all be part of this. 

The commission-free trading site Robinhood has pushed a future noncustodial bitcoin wallet with multiple blockchains accessible. So Coinbase isn’t the only exchange aiming to expand its products. The wallet will also support NFT marketplace storage and access.