GameStop unveils beta cryptocurrency wallet and approaching NFT platform

American electronics retail firm GameStop has had one step into the field of cryptocurrencies, unveiling an exclusive blockchain wallet which will feature nonfungible token functionality.

The GameStop Wallet allows gamers to get, send and store Ether (ETH), ERC-20 tokens and NFTs via a self-custodial browser extension running around the Ethereum blockchain. A mobile application can also be within the works.

The wallet will operate on Ethereum’s Loopring layer-2 scaling protocol created for decentralized exchanges, which offers high throughput, low-cost buying and selling and payment capacity.

Users can install the wallet extension with the Chrome Online Store. Similar to MetaMask’s Chrome extension, GameStop Wallet will integrate using its approaching NFT marketplace, that is scheduled for launch within the second quarter from the firm’s financial year.

GameStop announced a partnership with ImmutableX in Feb 2022, using the Ethereum NFT scaling platform drawn on to build up the famous brick-and-mortar gaming retailer’s custom NFT marketplace.

Related: GameStop looks toward NFT marketplace launch after big Q4 loss

The announcement captured claimed the marketplace could be 100% carbon-neutral, without any gas charges. The 2 companies also dedicated to a $100 million grant program, to become compensated in IMX tokens, to be able to attract prospective NFT content creators and developers.

GameStop’s NFT move continues to be a piece happening since May 2020, once the firm made initial requires software engineers focusing on Solidity, React and Python to use to participate its team. A beta form of the Loopring-powered GameStop NFT marketplace was announced through the layer-2 scaling protocol in March 2022.

Noncustodial, multichain cryptocurrency wallets are showing to become a major focus for firms searching to determine firm roots as Web3 keeps growing. Major U . s . States cryptocurrency exchange Coinbase integrated Web3 application functionality having a wallet and browser for any select number of its mobile application clients in May 2022. This can incorporate buying and selling on NFT marketplaces, token swaps on popular Ethereum-based decentralized exchanges like Uniswap and OpenSea, and use of decentralized finance lending protocols.

Coinbase isn’t the only real exchange searching to enhance its choices, as commission-free buying and selling platform Robinhood has promoted an approaching noncustodial cryptocurrency wallet with multipleblockchain ease of access. The wallet may also allow storage and use of NFT marketplaces.

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