As if Gamestop knew the market needed some exciting news to get through the coming crypto winter, it has come to the rescue again by launching its great new NFT marketplace at what some people have called “the worst time to launch a crypto project ever.”
The new GamestopNFT marketplace is open to everyone now available to everyone. It already has over 250 collections and 54k NFTs of different quality levels. They all come with a familiar, easy-to-use user interface that lets you buy, sell, trade, and create new coins. There is educational material and helpful platform metrics. People in some places may need a VPN to get to its content.
Collectors can get started by connecting either Gamestop’s non-custodial wallet or a trusted third-party wallet. Strangely, there are no NFTs for games right now. However, ImmutableX compatibility is coming soon, and it will bring top games like Ember Sword, Illuvium, and Gods Unchained.
There’s been so much hype about Gamestop since its inception, probably because of the timing of the launch. Still, it has reportedly done better than CoinbaseNFT, another latecomer that hasn’t done as well as it should have.
About Gamestop NFT Marketplace.
Recall that Gamestop NFT announced the launch of its NFT on the 11th of July this year. This marketplace will allow gamers, creators, collectors, and other community members to buy, sell, and trade NFTs.
GamestopNFT marketplace is a non-custodial Ethereum Layer 2-based marketplace that lets investors own their digital assets, which are represented and secured on the blockchain.
It also allows investors to connect to their digital wallets, like the Gamestop Wallet, which was launched recently. Over time, the marketplace will add more features, such as Web3 gaming, more creators, and other Ethereum ecosystem.
So how is its performance so far
Well, from a financial point of view, it’s pretty good. According to the GameStop analysis Twitter account GMEdd, the market did well over $1 million in trading volume in just 12 hours after launch time.
GameStop has continued to be bullish on NFTs and Web3 after two important announcements about the once-struggling games store.
First, its stock is going to be split four-for-one on July 22. This will take place on trading floors. This move, along with the NFT marketplace’s early returns, may bring in more investors, but only time will tell if it will be suitable for the company in the long run.
The move also comes after a release in early July that the company’s corporate sector was laying off a lot of employees as it tried to cut costs and make the most of its Web3 strategy. Its CFO, Mike Recupero, and several employees of the magazine Game Informer, which GameStop owns, also lost their jobs.
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