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GameStop Finally Rolls Out New NFT Marketplace

GameStop, one of the industry-leading video games retailers, has finally launched its NFT marketplace. With the release of the marketplace, GME is all set to compete with OpenSea and other prominent marketplaces. 

The company announced the launch via a press release on its official website. The PR notified that its NFT platform was now open to NFT collectors, creators, and gamers. Users can buy, sell, and trade digital assets over the new marketplace.

At the time of launch, that is, July 11th, the non-fungible token marketplace has listed more than 230 NFT collections. You can check out GameStop’s platform right here

GameStop NFTs homepage

The official statement by GameStop also mentioned that the non-custodial NFT marketplace was based on Ethereum Layer 2, which etches the ownership of assets onto the blockchain. 

As of now, users can access marketplace beta testing. GameStop’s wallet can be linked to the new NFT platform. Eventually, the company would add more features and tweak the user experience. 

“Over time, the marketplace will expand functionality to encompass additional categories such as Web3 gaming, more creators, and other Ethereum environments,” GameStop’s press release read.

GameStop is Wading Into the Web3 Waters

In May 2022, GameStop released its very own crypto wallet ‘GameStop Wallet’. The non-custodial wallet (a browser extension) allows users to interact with DApps. With the new NFT marketplace, the video game retailer has ventured further into the web3 space. 

The video game community has given mixed responses to NFTs. Industry giants like Square Enix and GameStop have wholeheartedly accepted non-fungible tokens. But on the flip side, EA and Valve have dismissed the tokens. 

GameStop’s voyage into web3 wasn’t all that smooth. To begin with, the company fired Mike Recupero, the chief of finance, a week before the marketplace launch. Then, to cut down costs, GameStop laid-off employees. 

Interestingly, the marketplace launch comes at a time when NFT sales have dipped and the larger crypto market is facing a slump. 

You might be interested in: Gamestop's NFT marketplace - Have they missed the boat?

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