US electronics retail firm GameStop has forayed into the world of cryptocurrency, unveiling a proprietary blockchain wallet that will have non-fungible token functionality.
The GameStop Wallet will allow gamers to receive, send and store Ether (ETH), ERC-20 tokens and NFTs through a self-custodial browser extension running on the Ethereum blockchain. A mobile application is also in the works.
it’s official! GameStop Wallet is here.
Download: https://t.co/dK2dmRmwRI
— GameStopNFT (@GameStopNFT) 23 May 2022
The wallet will run on Ethereum’s looping layer-2 scaling protocol, designed for decentralized exchanges, which boasts high throughput, low-cost trading and payment capability.
Users will be able to download and install the Wallet extension through the Chrome Web Store. Like Metamask’s Chrome extension, the GameStop wallet will integrate with its upcoming NFT marketplace, which is set to launch in the second quarter of the firm’s fiscal year.
GameStop announced a partnership with ImmutableX in February 2022 to develop the renowned brick-and-mortar video game retailer’s custom NFT marketplace using the Ethereum NFT scaling platform.
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An announcement earlier this year claimed the market would be 100% carbon-neutral with no gas charges. The two companies also committed to a $100 million grant program to be paid in IMX tokens to attract potential NFT content creators and developers.
GameStop’s NFT move has been in progress since May 2020, when the firm made an initial call to apply for software engineers specializing in Solidity, React and Python to join its team. Beta version of Looping-powered GameStop NFT Marketplace It was announced by the Layer-2 Scaling Protocol in March 2022.
The non-custodial, multichain cryptocurrency wallet is proving to be a major focal point for companies looking to establish firm roots as Web3 continues to grow. Major United States Cryptocurrency Exchange Coinbase Integrated Web3 application functionality with a wallet and browser for a select group of its mobile app clients in May 2022. This will include trading on the NFT marketplace, token swaps on popular Ethereum-based decentralized exchanges such as UniSwap and OpenC, and access to decentralized finance lending. protocol
Coinbase isn’t the only exchange looking to improve its offerings, as commission-free trading platform Robinhood has Promoted upcoming non-custodial cryptocurrency wallet with multiblockchain accessibility. The wallet will also allow storage and access to the NFT Marketplace.
