GameStop goes live with public beta of NFT marketplace
Quick Take
- GameStop has launched the public beta version of an NFT marketplace.
- The marketplace is built on the Ethereum blockchain.
- The video game retailer launched a self-custodial crypto wallet in May.
GameStop has launched the public beta version of its non-fungible token (NFT) marketplace, the video game retail giant announced Monday.
In a statement, GameStop described the new platform as a "non-custodial, Ethereum Layer 2-based marketplace that enables parties to truly own their digital assets, which are represented and secured on the blockchain."
GameStop launched a self-custodial Ethereum wallet in May, which will be one of the wallets that users can connect to the new marketplace. The company says it will eventually add more features to support "Web3 gaming, more creators and other Ethereum environments."
GameStop has publicly mentioned plans for the NFT marketplace over the past few months. In February, the retailer said it was partnering with Ethereum Layer 2 developer Immutable X to launch the NFT platform. GameStop also announced that the companies would launch a fund equaling up to $100 million in Immutable X's IMX tokens, with the aim of providing grants to NFT developers.
During a March earnings call, GameStop said it was planning to launch the NFT platform by the end of Q2.
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