GameStop is clasping the crypto world as it shifts its focus away from tangible items, and its long-teased NFT marketplace is now taking shape.
The shop launched a limited-functionality beta, powered by Ethereum scaling provider Loopring.
Users may now add funds to the platform using Loopring’s layer-2 scaling solution by connecting an Ethereum wallet (such as MetaMask).
You may also customize your display name and profile, however, there are currently no NFT trading capabilities.
Loopring and Gamestop collaboration
According to Browman, GameStop, in collaboration with Loopring L2, seeks to give the general public “quick, affordable, and secure” access to digital ownership.
With GameStop at the “forefront of these emerging global digital economies,” they plan to return control to gamers, producers, and collectors.
He described how users may now mint NFTs directly on Loopring L2 for “fractions” of the expensive gas expenses that often occur from minting on L1, which is less than $1.
The Loopring zkRollup inherits the self-custodial security of Ethereum L1 to ensure that its users “get the strongest digital property rights.”
Immutable will power GameStop
The company has announced a $100 million award for game designers and developers as part of its partnership with Immutable X (IMX) for its NFT marketplace.
In a Securities and Exchange Commission report released on January 28, 2022, it indicated that Immutable was its first Layer 2 NFT integration for trading and minting and that Loopring will follow.
Immutable X just completed a $200 million funding round, bringing the company’s worth to $2.5 billion.
It turns out that both layer-2 technology vendors will eventually fuel GameStop’s NFT initiatives. Immutable tweeted that it is GameStop’s “preferred partner” for the marketplace and that the companies are collaborating to find game creators to launch their NFTs on the platform.
Immutable claims to have received thousands of inquiries about its IMX token incentives from game developers and NFT creators.
Immutable further stated that the Loopring integration “was not a surprise (and we welcome them!)” and that the GameStop marketplace will serve as an aggregator for NFT minting systems. However, it looks that Immutable X will attract the most attention in the market.