GameStop goes live with its much-anticipated NFT Marketplace
Categories: Crypto News US
GameStop goes live with its much-anticipated NFT Marketplace
American video game retail chain GameStop has officially launched its long-awaited Ethereum-based NFT marketplace. The marketplace operates on both the Ethereum mainnet and looping layer-2 scaling solution and is hosting a variety of artwork projects, with plans to branch out into video games.
Another debut for GameStop
GameStop partnered with Immutable X to guarantee future funding (in the form of IMX tokens) for its marketplace in February. A potential US$150 million has been negotiated in IMX, but can only be accessed after GameStop has reached certain milestones.
For now, artworks are the only products on the market; 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$100 million token 'grant' fund in hopes of attracting game developers to the market.
GameStop Now A Fully Grown Crypto Player
In May 2021, GameStop announced development plans for an NFT platform and a new token ($GME) on Ethereum. The move appropriately accelerated its growth from a simple retail chain into the crypto industry. Almost exactly a year later, GameStop launched its crypto and NFT wallet, a foray into the digital asset space.
It arrived in the form of an Ethereum-based browser extension that can be downloaded from the Chrome Web Store. The wallet is self-custodial and designed with the most recent marketplace additions in mind.