GameStop Launches Self Custodial Wallet for Crypto, NFTs

Godfrey Benjamin  May 24, 2022 10:39  UTC 02:39

2 Min Read

Video game retailer GameStop Corp is advancing its reach into the Web3.0 ecosystem with the launch of its new digital currency wallet.

As announced by the company, the new wallet is a non-custodial one, and it gives allowance to users to connect to decentralized finance (DeFi) platforms from within their web browsers.

The company said allowance will be provided by the “digital asset wallet to allow gamers and others to store, send, receive and use cryptocurrencies and non-fungible tokens (“NFTs”) across decentralized apps without having to leave their web browsers.”

The new wallet is based on the Ethereum blockchain and it can easily be obtained by visiting the Chrome Web Store to download it. Besides granting access to users to connect with any mainstream marketplace in the space, the GameStop non-custodial wallet will also grant seamless access to the company’s highly anticipated NFT marketplace.

The Grapevine Texas-based company, best known for its meme stock trading, has been charting a new path for itself to bring more value to its users and the company at large. The company’s stock soared in an unusual way back in January this year as it unveiled its grand entry into the crypto and NFT ecosystem.

While it has made a lot of strides in partnering with Web3.0 startups to help it achieve its goals including its linkup with ImmutableX, GameStop’s in-house product launches in line with its pursuit into the world of digital currencies have not tapered down in the past few months.

Officially, GameStop said its NFT marketplace is now out in Beta, revealing that it partnered with Loopring, an Ethereum-compatible zkRollup protocol. The NFT Marketplace is currently in line to be launched in the second quarter of the company’s financial fiscal year which is scheduled to be in July this year.

The company's overall push into the Web3.0 space is yet another testament to the growing embrace of all things crypto amongst Wall Street firms.

Image source: Shutterstock

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