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GameStop Launches Beta NFT Marketplace With Loopring Integration -Breaking

by Mike Robinson

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GameStop Opens Beta NFT Marketplace with Loopring Integration

The beta version of the NFT marketplace has been launched by GameStop, a videogame retailer (NYSE:) after months of teasing it.

The announcement is made one month after GameStop revealed a strategic partnership agreement with Immutable X.

GameStop Launches NFT Marketplace with Loopring

Taking to medium on Wednesday, March 23, the Loopring team announced that the Beta version of the GameStop NFT marketplace was built using Loopring’s layer two (L2) ZK-rollup technology.

According to the Loopring team, the beta version of Gamestop’s NFT market called beta.nft.gamestop.com is now live.

According to Loopring’s head of growth, Adam Browman, GameStop, through its NFT marketplace, seeks to provide “fast, cheap, and secure” access to digital ownership for the masses.

By integrating with Loopring, Browman explains that the GameStop marketplace will allow users to mint NFTs directly on Loopring L2 for “fractions” of the costly gas fees resulting from minting on L1, approximately less than $1.

Although the marketplace was launched with limited functions, users can now connect an Ethereum wallet to the platform and add funds via Loopring’s layer-2 scaling solution. However, there’s no NFT trading functionality at present.

The Flipside

  • GameStop (GME shares) have seen a significant increase in value due to the announcement. Today: 17.8%Loopring (LRC), on the other hand, dropped by 5%.

What You Need to Care About

The benefits of integrating Loopring’s layer 2 solutions could be pivotal in attracting traders to the GameStop NFT marketplace.

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