The world’s largest retailer of video games, GameStop, said on Monday that the public beta for its non-fungible token (NFT) marketplace has begun.
The new platform is a “non-custodial, Ethereum Layer 2-based marketplace that allows participants to really control their digital assets, which are represented and safeguarded on the blockchain,” according to a statement from GameStop.
One of the wallets that consumers may link to the new marketplace is the self-custodial Ethereum wallet that GameStop released in May.
According to the business, further capabilities will soon be added to accommodate “Web3 games, more artists, and other Ethereum ecosystems.”
GameStop has hinted about its NFT marketplace previously
Over the past few months, GameStop has made ambitions for the NFT market known to the public. The store announced its partnership with Ethereum Layer 2 developer Immutable X to introduce the NFT platform in February.
GameStop wants to be a significant participant in the NFT gaming industry, where NFTs are interactive objects utilized in video games, even though the current emphasis is mainly on artwork. It also said that the organizations will start a fund with a cap of $100 million in IMX tokens from Immutable X with the intention of awarding rewards to NFT creators.
The gaming company stated during a March earnings call that it intended to introduce the NFT platform before the end of Q2. It declared a four-for-one stock split on July 6, stating that the stockholders would receive three extra shares as a dividend. The next day, it fired its CFO, Michael Recupero, and let go of an unspecified number of staff members nationwide.