GameStop launches its NFT market to rise from the ashes

GameStop launches its NFT market in beta. The former giant of video game stores intends to find a new lease of life by placing himself among the leaders of the decentralized web and the Blockchain economy …

In January 2021, the Reddit forum r / wallstreetbets sparked a war against Wall Street hedge funds for Gamestop stock. By joining forces, the internet users had managed to shake up the stock market moguls who had bet everything on the fall of the former giant of video game stores. Goldman Sachs also expressed its fears of seeing the entire market collapse.

After coming close to failure, Gamestop has finally recovered and is now looking for a second wind. In May 2021, the company revealed its intention to enter the world of NFTs with a first website. She also has recruited a security analyst experience in the field of blockchain and cryptocurrencies.

Several months of preparation have passed and The GameStop NFT Market is finally available in beta from March 24, 2022. The official version should be implemented very soon.

An NFT market integrated with Loopring for a reduced minting cost

As suggested by the rumors, GameStop confirmed integration with Loopring (LRC) : a zk-Rollup protocol for Ethereum layer-2, designed for decentralized cryptocurrency exchange platforms.

The goal of this partnership is to provide access fast, convenient and safe to digital ownership for the public. Both companies want empowering players, creators and collectors and place GameStop at the forefront of this new digital economy.

One of the advantages of Loopring L2 is significantly reduced NFT minting costs compared to level 1 of the Ethereum blockchain. However, security has not been neglected and will be on par with that of Ethereum L1.

In February 2022, GameStop has partnered with Immutable X (IMX) for its NFT market. A $ 100 million grant has been announced for game creators and developers. Already at the time, the company had announced to the American SEC that Immutable would be its first NFT level 2 integration for trading and minting and would be followed by Loopring.

Other rumors indicate a partnership with Microsoft for this NFT market, but have not been confirmed so far. A strategic partnership between the two companies was announced in October 2021.

The Beta users you can start taking advantage of these reduced costs and increased performance in preview and start depositing NFTs before the official launch.

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