GameStop's non-custodial digital wallet is just one step in its plan to embrace cryptocurrencies and NFTs.
The American video game retailer, GameStop, has announced the Launch of its first digital wallet for crypto assets and NFTs non-custodial. The launch is part of its plan to implement blockchain technology. The announcement of this launch has caused the company's GME shares to rise by 2%, reaching $98,02.
The GameStop wallet is compatible with the Ethereum network and will allow users to store, send, receive and use tokens of all kinds, including NFTs, through decentralized applications without having to leave the web browser.
The wallet has been built on Loopring's zkRollup to facilitate transactions and take advantage of reduced fees as well as reduced execution times.
The wallet will also integrate with GameStop’s upcoming NFT marketplace, which is scheduled to launch before Q2022 XNUMX. This way, users will be able to take advantage of the company’s proprietary infrastructure to buy, sell, or trade NFTs quickly and easily. The wallet will track the user’s IP address, as well as GPS coordinates and data near the device.
On the other hand, GameStop has indicated that the wallet will be self-custody, so the company At no time will it store data about the private keys, as each user will be responsible for their funds. In this regard, the company will apply very strict privacy policies.
GameStop's NFT marketplace
A year ago, in April 2021, the American company published a job offer to hire a security analyst with expertise in cryptography, which set off alarm bells in the crypto community about the company's entry into the world of NFTs and cryptocurrencies. A few weeks later, new offers were created to hire engineers, designers, gamers, sellers and community leaders to start the NFT project.
The official announcement of the launch of this NFT market took place in January 2022. In this regard, GameStop made public its intention to enter “highly publicized areas” in an attempt to expand the business beyond video games.
Finally, GameStop also revealed that they would be using Ethereum’s layer 2 scaling solution, Immutable X, to develop their NFT marketplace.
The two companies have created a joint fund of over $100 million focused on NFT games and with the aim of financially supporting the platform's content creators and developers.
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