GameStop, an electronics and videogame retailer (NYSE:), announced on Monday that it has launched a new wallet which allows players to store, send and receive cryptocurrency and non-fungible coins (NFTs).

GameStop Announces a Non-Custodial Money Wallet

GameStop, in preparation of the online release of NFT markets, announced that it has launched a new browser-based cryptocurrency wallet.

GameStop’s new, non-custodial wallet will allow gamers to trade, buy, and access cryptocurrencies without ever leaving their game.

The new Web 3.0 wallet, which leverages Loopring’s ZK-rollup technology for cheaper transactions, can host and transact ETH, NFTs and ERC20 tokens.

Loopring Tech by GameStop to Create a New Wallet

GameStop claims that its Web 3.0 wallet, which can be downloaded to smartphones by downloading it on a smartphone, will launch eventually.

GameStop shares appreciated nearly 3% on Monday morning due to the announcement. GME is trading at $96.13, an increase of its previous $93.6 pricepoint.

The Flipside

• Gamestop plans to launch the company’s NFT marketplace in July with the overall vision of giving “power to the players.”

What You Need to Care About

GameStop’s foray into Web 3.0 may be an attempt to revitalize its brand after reporting relatively poor earnings for Q1 of 2022.

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