GameStop Launches NFT Marketplace

GameStop on Monday announced the long-awaited debut of its online marketplace for nonfungible tokens, or NFTs, in a bid to reinvent its business and cash in on consumer adoption of cryptocurrencies and blockchain technology. CNBC reports: The platform, which is now open to the public for beta testing, allows users to connect their own digital asset wallets, including the recently launched GameStop Wallet, the company said in a press release. They will then be able to buy, sell and trade NFTs of virtual goods. Over time, the marketplace will expand to offer other features such as Web3 gaming, GameStop said. 'Currently, the marketplace plays host to an array of artwork projects that run on the Ethereum mainnet as well as Loopring, a layer-2 scaling solution,' adds Decrypt. 'GameStop previously announced a partnership to use the Immutable X layer-2 scaling network, but the marketplace notes that Immutable X support is 'coming soon.''

'GameStop and Immutable X launched a $100 million token grant fund to bring game developers onto the marketplace. A press release notes that gaming NFTs will be added in the future.'

Further reading: Game Developer On 'Why NFTs Are a Nightmare'

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