Through its NFT marketplace, GameStop offers gamers a space to buy, sell, trade, and create NFTs of their favorite video games. This and more news is in this handy daily roundup so you're always up to date with the latest events happening in the crypto world.
GameStop launches its NFT marketplace
📍Video game retailer GameStop has officially launched its marketplace for non-fungible tokensGameStop's new NFT marketplace is now live. The gaming company had partnered with layer-2 solution Immutable X to offer gamers a marketplace to buy, sell, trade, and create NFTs based on their favorite video games.
GameStop launched the beta version of its NFT marketplace in July this year, to put the platform through public testing. Through this NFT marketplace, the video game retailer wants to bring its players and consumers into the Web3 innovation fold.
Although non-fungible tokens have created some debate in the gaming community, due to the energy consumption that blockchains can demand, the network used by GameStop to build its marketplace, Immutable X, guarantees sustainability, being a carbon-neutral network.
Hong Kong declares itself in favor of cryptocurrencies
📍The Hong Kong government has issued a statement in support of the virtual asset ecosystem. On Monday, the government of the special administrative region of Hong Kong, China, published a statement confirming its political stance in favor of the development of cryptocurrenciesThe statement issued by the regional government, which is autonomous from Chinese policies, specifies that the region will continue to work to build a favorable environment for the development and growth of the vibrant digital ecosystem.
Hong Kong is striving to regain its status as a global financial and technology hub, and is therefore open to new technologies, including cryptocurrencies. However, the Hong Kong government also stressed that it will work on new policies to manage and minimize risk, to meet international standards and ensure a sound, responsible and sustainable environment for cryptocurrencies and their participants.
The region also confirmed the creation of a new licensing regime for virtual asset service providers, which will open up new business opportunities for cryptocurrency traders and investors.
Hong Kong’s Securities and Futures Commission will hold a public consultation to hear the needs and opinions of retail crypto and virtual asset investors and has said it is open to incorporating cryptocurrency exchange-traded funds (ETFs) into its markets in order to increase investors’ exposure to this new asset class.
Pilot tests for digital rupee begin
📍In India, the central bank will begin pilot testing of its CBDC today. This Tuesday, November 1, the first phase of testing for India's wholesale CBDC, the digital rupee, begins.
In a release, India’s central bank said the trials will focus on specific use cases for the country’s future digital currency. Specifically, the bank will test the wholesale digital rupee in settling transactions in the secondary market for government securities. It said it expects the CBDC to make the interbank market much more efficient by reducing transaction costs and implementing other improvements.
Based on the results of this first phase of testing, the Central Bank of India plans to launch other pilots to implement other types of wholesale transactions and cross-border payments with the CBDC.
India's central bank also confirmed that pilot testing for a commercial CBDC will begin within a month, in December.
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