GameStop has launched open beta access to its NFT marketplace with initial support for digital art collectibles.
The company describes the marketplace as a “non-custodial, Ethereum Layer 2-based marketplace.” Specifically, the market is built on looping.
GameStop’s announcement advertises the market as “truly to own … digital assets that are “represented and secured on the blockchain.” Users can connect various crypto wallets to the site, including the company’s own GameStop wallet.
There are already 53,300 NFT and 236 NFT collections listed on the site. Although GameStop currently only supports NFTs molded on its own platform, there are also collections available on other marketplaces such as OpenSea.
To celebrate the launch of the Marketplace, Gamestop has released two NFTs that are currently not for sale.
Marketplace to expand to Web3 Gaming
While early reports expected that GameStop would integrate NFTs with video games, this feature is not currently available. Rather, the company will expand the platform to Web3 gaming and other Ethereum layers in the future.
Notably, an upcoming Illuvium X expansion will provide access to NFTs associated with games like Illuvium, Gods Unchained, Guild of Guardians, Ember Sword and Planet Quest.
Several other video game companies have pursued non-fungible tokens over the past several months, but GameStop was one of the most anticipated to pursue that goal in early 2021 due to its status as a “meme stock.”
However, the timing of GameStop’s NFT Marketplace launch may have been inappropriate, as NFT sales began to decline this summer.
The company is also cutting for reasons unrelated to cryptocurrency, as it announced layoffs on July 7.
Disclosure: At the time of writing, the author of this article owns BTC, ETH and other cryptocurrencies.
Share this article
Information obtained on or through this website is obtained from independent sources that we believe to be accurate and reliable, but Decentral Media, Inc. makes no representations or warranties about the timeliness, completeness, or accuracy of any information on or through this website. , Decentral Media, Inc. is not an investment advisor. We do not provide personal investment advice or other financial advice. Information on this website is subject to change without notice. Some or all of the information on this website may be out of date, or it may or may not be incomplete or inaccurate. We are not obligated to, but are not obligated to, update any outdated, incomplete or incorrect information.
You should never make an investment decision on ICOs, IEOs, or other investments based on the information on this website, and you should not interpret or otherwise rely on any information on this website as investment advice. We strongly recommend that you consult with a licensed investment advisor or other qualified financial professional if you are seeking investment advice on ICO, IEO, or other investments. We do not accept compensation in any form for the analysis or reporting of any ICO, IEO, cryptocurrency, currency, token sale, securities, or commodity.
View full terms and conditions.