cryptoknowmics.com
American video game retailer GameStop announced that it has finally launched its long-awaited non-fungible token (NFT) marketplace, allowing gamers, creators, and collectors to buy, sell and trade NFTs. Over time, the marketplace will expand to offer other features such as Web3 gaming, the company said.
GameStop's Long-Awaited NFT Marketplace Now Live
According to an official press release from July 11, GameStop's NFT marketplace is a non-custodial, Ethereum Layer 2-based marketplace built on the Ethereum layer 2 network Loopring L2 that allows collectors to truly own their non-fungible tokens (NFTs). The platform is now open to the public for beta testing and allows users to connect their own crypto wallets, including its recently launched GameStop Wallet. In May, the company unveiled its own crypto wallet for storing, sending, and receiving cryptocurrencies and NFTs ahead of the marketplace launch. GameStop aims to be the leading player in the NFT gaming space where NFTs are used within video games. In February, the gaming giant formed a partnership with layer 2 blockchain Immutable X to launch a $100 million token grant fund to bring game developers onto the marketplace.
Launch Comes Following Company-Wide Layoffs
On July 6, GameStop announced a four-for-one stock split to enable shareholders to receive three additional shares as a dividend after the close of trading on July 21. The following day, the company terminated Chief Financial Officer Michael Recupero and laid off an unconfirmed number of employees across the firm.