GameStop Launches Crypto Wallet, NFT Marketplace Integration Coming Soon

Video games retailer GameStop announced Monday that it has launched a crypto and non-fungible token (NFT) wallet in preparation for its foray into the world of digital assets. The Self-Custodial Ethereum Wallet will allow gamers and others to store, send, receive and use cryptocurrencies and NFTs via decentralized apps (dApps) without leaving their web browsers. It’s available through the Chrome Web Store and will also enable transactions on GameStop’s NFT marketplace, which is expected to launch in the second quarter of the company’s fiscal year beginning in July.

The wallet uses Loopring’s ZK-Rollup technology, a Layer 2 scaling protocol from Ethereum for cheaper and faster transactions. Although the wallet is not custodial, according to its privacy policy, it tracks certain user information, including IP address, GPS coordinates, and information near the user’s device.

“It also monitors the user’s network, clicks, mouse position and keystroke logging,” the privacy policy reads.

Users can access the wallet via a 12-word secret recovery phrase. GameStop emphasizes that customers should write down the sentence and warns that without it, they won’t be able to access the wallet. “This is a beta launch,” added GameStop. “Please act responsibly and do not add more funds than you are comfortable with.”

In terms of functionality, Gamestop’s wallet is similar to Metamask and provides the user with a desktop version of the software. While the company has been working on the wallet’s technology with Loopring, the NFT marketplace will use Immutable X technology. Gamestop partnered with Immutable X in February this year, launching a US$100 million (roughly Rs.7.76 billion) NFT grant in the form of IMX tokens to support potential NFT creators and developers. attract content. The announcement earlier this year also claimed that the marketplace would be 100 percent carbon neutral, with no gas fees.

Multichain, non-custodial cryptocurrency wallets are proving to be a key focus for businesses looking to establish firm roots in the Web 3 world. Major US cryptocurrency exchange Coinbase integrated Web 3 application functionality with a wallet and browser for a select group of its mobile app customers earlier this month. Meanwhile, Robinhood has also promoted an upcoming non-custodial wallet with multi-chain interoperability. GameStop Launches Crypto Wallet, NFT Marketplace Integration Coming Soon

Ryan Sederquist

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