GameStop Launches Non-Fungible Token Marketplace
GameStop has announced the debut of its non-fungible token (“NFT”) marketplace, which would let gamers, producers, collectors, and other customers to purchase, sell, and trade NFTs. The NFT marketplace offered by the video game store is a non-custodial, Ethereum Layer 2-based marketplace that allows parties to retain their digital products, which are recorded and safeguarded on the blockchain. This marketplace was developed specifically for the needs of the video game shop.
Collectibles, such as digital artistry, sports cards, and other such artifacts, are at the center of the NFT market. These collectibles may generate market value depending on the interest that customers have in them.
Connecting to one’s personal digital asset wallet, such as the just-launched GameStop Wallet, is now possible via the marketplace. The features of the marketplace will grow over time to include other genres, such as Web3 games, more producers, and different Ethereum contexts. This will occur as the marketplace matures.
GameStop, which had just reported a quarterly loss of $147.5 million, is trying to transition away from being a traditional packaged media shop and toward becoming a digital and online game retailer. This contains non-fungible tokens.