In May, the video-game retailer launched a digital asset wallet ahead of the launch of its service.
After being in development since last year, the marketplace for video-game retailer GameStop’s non-fungible token NFT is now live.
According to a Monday statement, the platform will allow “gamers, creators and collectors” to trade, buy and sell NFTs. GameStop plans to launch the marketplace by the end of July.
GameStop revealed its digital asset wallet in May to store, send and receive cryptocurrencies and NFTs before the marketplace launch.
In February, announced a partnership with Immutable X layer 2 blockchain Immutable X. Under this agreement, Immutable X created a $100 million fund in its IMX tokens to grant grants to NFT content creators and technology developers. Immutable X was also required to give GameStop up to $150 million worth of IMX tokens upon certain milestones.
GameStop seems to ignore the “crypto Winter” issue and is moving ahead with its own NFT Marketplace. The company now calls it a “public beta”.
The platform allows you to sell, buy, and create NFTs. There are more than 200 collections that you can peruse, and more 53,000 NFTs available on the marketplace . I haven’t seen any unusual NFT art, but I did find some monkey-themed collection and cat art. You can connect the recently launched GameStop Wallet for digital asset management, but you also have options such as MetaMask and WalletConnect. You can’t just create an NFT via the platform. Interested creators must apply.
GameStop has larger plans for the marketplace, stating in a release that it will “expand functionality” to areas such as Web3 gaming. GameStop teased that Immutable X support will be available soon on the NFT marketplace website. This platform is built on Ethereum and is used by some NFT-related games. GameStop and Immutable X also launched a $100,000,000 grant program.
In February , the gaming retailer announced that it would open its own NFT marketplace. However, over the past few weeks, sales have dropped amid a larger downturn in crypto overall. In an effort to weather the storm, crypto companies such as Cryptobase and BlockFi had to layoff staff. But GameStop continues to move forward with its plans, despite these difficulties. GameStop has opened its NFT market days after laid off its staff and fired its CFO. Crypto efforts seem to be an important part the company’s future. CEO Matt Furlong addressed employees about the layoffs and mentioned GameStop’s blockchain group in the first sentence.