GameStop, an American video game retailer, has launched an NFT marketplace

GameStop, the leading American video game platform, launched its first NFT marketplace dubbed GameStop NFT on Monday. The market enables users to purchase, sell, and exchange NFT collections.

According to the press announcement, the NFT marketplace will also allow customers to connect their digital wallets, including the recently unveiled GameStop Wallet. GameStop also intends to enhance the NFT marketplace’s functionality to incorporate Web3 games in the future.

GameStop stated on the newly created NFT marketplace:

“The Company’s NFT marketplace is 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. Over time, the marketplace will expand functionality to encompass additional categories such as Web3 gaming, more creators, and other Ethereum environments.”

Currently accessible projects on GameStop NFT

Meanwhile, the GameStop marketplace is home to a number of applications built on the Ethereum mainnet and Loopring, a layer-2 scaling solution.

In essence, the video game company hopes to become a major participant in the NFT gaming market. Aside from digitized artworks, NFTs have made their way into the gaming industry, where they serve as key interactive features that players may utilize within the games as well as trade on NFT marketplaces.

GameStop has also hinted at including Immutable X, an Ethereum-based platform utilized by several NFT games. This comes after the two companies (GameStop and Immutable X) announced a $100 million grant incentive for NFT inventors a few months ago.

The NFT marketplace is an important milestone for the company because it comes at a time when the company has been struggling with the plummeting crypto market, forcing it to lay off employees and even fire its CFO.