GameStop is proceeding with the launch of its own NFT marketplace, which is currently open in what the company calls a “public beta,” seemingly disregarding the whole “crypto winter” thing.
You can currently buy, sell, and create NFTs using the platform. You can browse more than 200 collections, and the market has more than 53,000 NFTs listed. In just a few minutes of browsing, I’ve already found some strange cat and monkey-themed collections, for example. The art I’ve seen seems to be fairly typical NFT fare. Naturally, you can use the recently released GameStop Wallet to connect, but you can also use services like WalletConnect and MetaMask to manage your digital assets. Additionally, interested creators must apply before they can upload an NFT to the platform.
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 used by some NFT games, will be available soon on the NFT marketplace homepage. A $100 million grant initiative has also been started by GameStop and Immutable X.
GameStop is advancing quickly.
The gaming retailer initially 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 overall decline in cryptocurrency. In an effort to weather the storm, cryptocurrency companies like Coinbase, BlockFi, and Crypto.com have had to lay off employees; however, GameStop is moving forward with its plans despite its own difficulties. In a memo to employees about the layoffs, CEO Matt Furlong mentioned GameStop’s blockchain group in the very first sentence. Days later, GameStop is opening its NFT market, and it appears that crypto efforts are a significant part of the company’s future.
