GameStop Confirms Launch Of NFT Marketplace, Beta Version Goes Live

GameStop plans to launch a novel NFT marketplace as a part of its recent push for the adoption of digital assets. The marketplace is already live in the beta phase.

The American video game, consumer electronics, and gaming merchandise retailer confirmed via a press statement that it will launch a non-custodial NFT marketplace based on the Ethereum Layer 2 blockchain.

A non-custodial platform is one that allows the users to remain in control of their digital assets without a centralized third party being in charge. A major example of this is MetaMask.

On the other hand, Layer 2 (L2) is a term that is collectively assigned to those blockchains that exist as an Ethereum scaling solution. These include Polygon, Tron, and others.

According to GameStop, the new NFT marketplace will "allow gamers, creators, collectors and other community members to buy, sell and trade NFTs" directly from the platform and all the assets purchased or sold will be secured on the blockchain.

The NFT marketplace is now available for public beta testing and will allow users to connect their digital wallets to it. The marketplace will also support the GameStop Wallet which was released recently by the firm under the leadership of Chewy founder and activist investor Ryan Cohen. Options like WalletConnect and MetaMask will also be available.

According to Jay Peters from The Verge, users will be able to choose NFTs from over 200 NFT collections and the marketplace will have more than 53,000 NFTs listed on it. Also, those creators who want to list their NFTs on the platform will have to apply on GameStop.

However, GameStop does not plan to stop after the launch of the NFT marketplace. The firm plans to expand deeper into crypto, blockchain, and Web 3.0 gaming as per the statement.