GameStop’s NFT Marketplace Launched on Loopring L2 Protocol

GameStops NFT Marketplace Launched on Loopring L2 Protocol

The video game retailer has finally launched the early version of its non-fungible token marketplace.

Based on the official blog post by Adam Browman of Loopring, the Layer2 Ethereum protocol has been implemented in GameStop’s NFT marketplace. Loopring’s zkRollup L2 enables lower transaction costs and creates a secure trading environment on the Ethereum blockchain.

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According to Browman, the implementation of Loopring in the NFT market will give players access to a “fast, cheap and secure” trading platform, and GameStop may become “the destination for global digital economies”.

In fact, GameStop is already offering early customers the ability to store NFTs on Loopring’s L2 for less than $1 per transaction and runs Ethereum’s secure L1 network.

The announcement was echoed by GameStop’s main partner, Immutable, a blockchain gaming platform with a built-in NFT marketplace. According to Immutable, LRC’s integration into GameStop’s NFT marketplace was “no surprise” and he wants to partner with another Ethereum scaling solution.

GameStop’s plans for an NFT marketplace were quietly in the works in December 2021, and it was officially announced along with its partnership with Immutable.

After the market beta launch announcement, GameStop’s GME stock went on an upward trajectory, gaining 14.50% in the past 24 hours.

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Dom Z. – Crypto Analyst, BitDegree

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