GameStop launches NFT marketplace

GameStop has launched its ‘public beta’ NFT marketplace on July 11, which is initially offering support for digital art collectibles.

The company describes the marketplace as a ‘non-custodial, Ethereum Layer 2-based marketplace  that enables parties to truly own their digital assets’ and is built on the Loopring. Users can connect their wallets to the marketplace using their own wallets or their recently launched GameStop Wallet. 

Right now there are 236 collections and 53,300 NFTs listed on the marketplace for users to buy, sell and trade. The marketplace also allows users to access NFT statistics and educational content that covers topics such as how to connect a wallet to the marketplace. 

GameStop also announced plans to ‘expand functionality’ into encompass categories like Web3 gaming, creators and other Ethereum ecosystems, with testing for support for Ethereum scaling solution Immutable X ‘coming soon’. The Immutable X expansion will unlock access to NFTs related to games like  Illuvium, Gods Unchained, Guild of Guardians, Ember Sword, and Planet Quest. 

GameStop has also launched a US$ 100 million grant program to support studios, developers, publishers and content creators engaged in the Web3 space. 

The marketplace is launched at a time when the crypto market is seeing a downturn and the company laid off its CFO and staff members across departments as it pivots to Blockchain. According to  CEO Matt Furlong, the layoffs are carried out to help the company improve its performances to meet its new Blockchain goals.

Photo: Getty