11.August 2022

American video gaming platform GameStop launches NFT marketplace

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Commenting about the newly launched NFT marketplace, GameStop said:

“The Company’s NFT marketplace is a non-custodial, Ethereum Layer 2-based marketplace that enables parties to truly own their digital assets, which are represented and secured on the blockchain. Over time, the marketplace will expand functionality to encompass additional categories such as Web3 gaming, more creators, and other Ethereum environments.”

In the meantime, the GameStop marketplace houses a variety of projects built on Ethereum mainnet and Loopring, a layer-2 scaling solution.

In essence, the video gaming company is aiming to also become a significant player in the NFT gaming industry. Besides digitized artworks, NFTs have also found their way into the gaming arena where they exist as vital interactive elements that gamers can use within the games and also trade on NFT marketplaces.

GameStop also recently hinted at integrating Immutable X, which is an Ethereum-based platform used by some NFT games. This comes months after the two (GameStop and Immutable X) announced a $100 million grant incentive for NFT creators.

The NFT marketplace is a significant milestone for the company since it comes at a time when the company has been battling with the falling crypto market that has forced it to lay off workers and even fire its CFO.


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