Gaming giant GameStop is set to venture into the NFT space through its GameStop NFT marketplace, where users can browse and purchase gaming NFTs which can later be traded on leading marketplace platforms.
The soaring popularity of NFTs has prompted many leading game companies to integrate non-fungible tokens as essential in-game items. This gave birth to the concept of play-to-earn games, a genre that allows users to earn and trade NFTs in-game.
So, when can we expect the GameStop NFT marketplace to release?
GameStop NFT Release Date
The Gamestop NFT is finally happening and the company has recently unveiled details of co-creating a 100 million dollar fund that could be used by game developers and creators to make innovations in the field of gaming NFTs.
The company had also collaborated with Immutable X, a layer two blockchain to work on its NFT and marketplace development.
Recently, the firm had launched the beta version of its NFT marketplace on Loopring. As per the official blog post, Loopring's Head of Growth Adam Browman added that the beta version is now live which will enable users to create their username and profile and even "make deposits and be prepared for the full launch of the official marketplace coming soon."
After being in the works for nearly a year, on July 12, GameStop has finally launched its NFT marketplace for users to trade and purchase NFTs.
Users will be able to connect their wallets to the platform to facilitate easy NFT trading. The company had also earlier launched its own NFT wallet for it's users in a bid to simplify NFT trading for them.
What is Gamestop NFT?
The page also highlights some minor details used by GameStop in an attempt to separate itself from other NFT marketplaces. The page mentions that Gamestop NFT marketplace intends to return power to the creators, players, and collectors, allowing them to take charge and oversee the marketplace functionalities.
GameStop's teaser page also includes an Ethereum smart contract address, which all but confirms the marketplace will run using Ethereum. This makes sense given the majority of NFTs already run on the Ethereum blockchain. The
Additionally, the Gamestop NFT marketplace has decided to partner with Immutable X, which intends to mitigate the exorbitant energy consumption and gas fee issues. This may help the gaming giant to move past the technical regulations and add lower-cost tariffs to attract users.
The marketplace has also launched its official Twitter account recently , and is currently in process of expanding its social presence.