Home Business GameStop’s NFT Market Has Arrived

GameStop’s NFT Market Has Arrived

GameStop’s NFT Market Has Arrived
Source: Getty

GameStop is proceeding with the establishment of its own NFT marketplace, which is currently open in what the business terms a “public beta,” obviously disregarding the entire “crypto winter” issue.

You can currently purchase, sell, and produce NFTs using the platform. You may browse more than 200 collections, and the market has more than 53,000 NFTs listed. In only a few minutes of browsing, I’ve already seen some strange cat and monkey-themed collections, for example. The art I’ve seen looks to be fairly typical NFT material. Naturally, you can use the recently released GameStop Wallet to connect, but you can also utilize services like WalletConnect and MetaMask to manage your digital assets. Additionally, potential authors must apply before they may upload an NFT to the site.

Future plans for the market from GameStop include “expanding functionality” into things like Web3 gaming, according to a press release. GameStop is already hinting that Immutable X support, an Ethereum-based platform utilized by several NFT games, would be available shortly on the NFT marketplace portal. A $100 million grant initiative has also been started by GameStop and Immutable X.

The game shop first declared in February that it intended to launch its own NFT market, but recent weeks have seen a decline in NFT sales as a result of a larger general decline in cryptocurrency. In an effort to weather the storm, cryptocurrency firms like Coinbase, BlockFi, and Crypto.com have forced to lay off employees; nonetheless, GameStop is moving through with its ambitions despite its own difficulties. In a statement to workers regarding the layoffs, CEO Matt Furlong cited GameStop’s blockchain division in the very first phrase. Days later, GameStop is starting its NFT market, and it appears that crypto activities are a significant part of the company’s future.