American video game retail chain GameStop has officially launched its long-awaited Ethereum-based NFT marketplace.
The marketplace is running on both the Ethereum mainnet and layer-2 scaling solution Loopring and is hosting various artwork projects, with plans to branch into video games.
Another Start for GameStop
GameStop entered a partnership with Immutable X in February to guarantee future funding (in the form of IMX tokens) for its marketplace. A potential US$150 million in IMX has been negotiated but can only be accessed by GameStop once it reaches certain milestones.
For now, artworks are the only products on the marketplace; however, GameStop is set on the NFT gaming space and plans to bring NFTs to video games. The partnership with Immutable X has created a US$100 million token ‘grant’ fund in hopes of attracting game developers to the marketplace.
GameStop Now a Fully Fledged Crypto Player
In May 2021, GameStop announced development plans for an NFT platform on Ethereum and a new token ($GME). This move accelerated its evolution from a simple retail chain into the crypto industry proper.
Almost exactly a year later, GameStop launched its crypto and NFT wallet, branching further into the digital assets sector. It came in the form of an Ethereum-based browser extension, downloadable from the Chrome Web Store. The wallet is self-custodial and designed with the most recent marketplace addition in mind:
The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.