This is one of the many steps in the company's long term plans.
Non-fungible tokens, or NFTs, were all the rage in 2021 when celebrities splurged millions of dollars to get their hands on them. Electronics device manufacturers also launched a series ofAfter the turn of the year, interest in NFTs and cryptocurrencies at large has dwindled with popular marketplaces seeing a dip in their daily users and cryptocurrency losing its pandemic sheen.
The recently unveiled marketplace is based on Ethereum Layer 2, which allows"parties to truly own their digital assets", the company said in a press release. At the launch, the marketplace had more than 53,000 NFTs listed for sale and more than 200 collections to browse through. This is quite a small number if you compare it to the millions of available options on OpenSea, but the company is calling the launch a"public beta".
Speaking of collections, there are some animal-themed collections one would expect an NFT marketplace to have after the roaring success of Bored Ape Yacht Club. However, GameStop also has an entry barrier if you are looking to mint your own NFTs on the platform. Creators must first apply and be approved by GameStop to showcase their work in the marketplace.Users looking to get their hands on items in the collection can opt for MetaMask or WalletConnect.
The company is also looking to expand the functionality of the marketplace and, over time, will add Web3 gaming and other Ethereum environments. The marketplace also mentions support for ImmunatableX, a platform used for some NFT games that will also be added shortly. The launch time is also peculiar since the company is currently laying off employees and fired its Chief Financial Officer earlier this month,So, it looks like GameStop has no plans to stop anytime soon but march through what other companies are fearing.Stay ahead with the latest science, technology and innovation news, for free:
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