GameStop Launches NFT Marketplace Beta on Loopring's L2 Protocol

GameStop Launches NFT Marketplace Beta on Loopring's L2 Protocol

The video game retailer has finally launched the early version of its non-fungible token marketplace.

Based on the official blog post by Loopring’s Adam Browman, the Layer2 Ethereum protocol has been implemented into GameStop’s NFT marketplace. Loopring’s zkRollup L2 will enable lower transaction fees and create a secure trading environment on the Ethereum blockchain.

According to Browman, the implementation of Loopring on the NFT marketplace will give players access to a "fast, cheap, and secure" trading platform, and GameStop will potentially become "the destination for global digital economies."

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In fact, GameStop already offers early customers to mint NFTs on Loopring’s L2 for less than $1 per transaction and carries Ethereum’s secure L1 network.

The announcement was reiterated by GameStop’s main partner Immutable which is a blockchain gaming platform with a built-in NFT marketplace. According to Immutable, the integration of LRC into GameStop’s NFT marketplace "was not a surprise", and is looking to work alongside another Ethereum scaling solution.

GameStop’s plans for an NFT marketplace were silently in the works back in December of 2021, and it was officially announced alongside its partnership with Immutable.

After announcing the marketplace’s beta launch, GameStop’s stock GME went on an upward trajectory, gaining 14.50% over the past 24 hours.

Dom Z. - Crypto Analyst

by Dom Z. - Crypto Analyst, BitDegree


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