GameStop's NFT Marketplace is Out in Beta

Annie Li  Mar 24, 2022 16:03  UTC 08:03

1 Min Read

GameStop's NFT marketplace is out in beta and integrated with the Ethereum Layer 2 zkRollup protocol, Loopring (LRC).

The partnership will provide players with faster, cheaper, and more secure access to digital property rights.

Since Loopring zkRollup is based on Ethereum's self-hosted security while abstracting away expensive gas fees, it lowers customers' costs.

Adam Browman, Head of Growth at Loopring explained that Users can directly mint NFTs on Loopring L2 while inheriting the security of Ethereum L1 at a fraction of the cost of L1 minting (less than $1).

In January, the major US video game and electronics retailer disclosed that it was getting into the NFTs marketplace and entering into crypto collaborations. GameStop hired 20 new employees for its cryptocurrency division to develop a digital marketplace for people to purchase, sell, and trade NFTs linked to digital assets for use in various games.

Last month, GameStop partnered with Immutable X, a blockchain firm, to build a marketplace for NFTs, which they expected to roll out later this year.

As reported by blockchain.News on March 18, in its fiscal fourth-quarter earnings report, GameStop announced that it plans to launch a non-fungible token (NFT) marketplace by the end of the second quarter (the end of July this year).

Image source: shutterstock

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