GameStop Ethereum NFT Marketplace Beta is Now Live with Loopring Integration

GameStop's Ethereum NFT marketplace will support both Immutable X and Loopring's layer-2 technology.

As it shifts its business away from physical commodities, video game retailer GameStop is embracing the crypto world, and its long-awaited NFT marketplace is now taking shape. Built on Ethereum scaling provider Loopring, the shop released a limited-functionality beta today.

GameStop has revealed that their much anticipated NFT marketplace will be powered by Loopring (LRC), an Ethereum Layer 2 zkRollup technology designed to power decentralized cryptocurrency exchanges.

Loopring's layer-2 scaling solution now allows users to link an Ethereum wallet (such as MetaMask) to the platform and add funds. You can also customize your display name and profile, however there is currently no NFT trading capabilities.

GameStop, in collaboration with Loopring L2, seeks to provide "fast, cheap, and secure" access to digital ownership for the public, according to Adam Browman, Loopring's Head of Growth. With GameStop at the "forefront of these emerging global digital economies," they plan to return power to gamers, creators, and collectors.

Loopring's integration was "not a surprise (and we welcome them! )," Immutable X added, and the GameStop marketplace would operate as an aggregator for NFT minting platforms. However, it appears that Immutable X will gain the most attention on the market.

GameStop recently announced a $100 million grant for game designers and developers as part of its NFT marketplace partnership with Immutable X (IMX). Immutable was GameStop's first Layer 2 NFT integration for trading and minting, and Loopring would follow, according to a Securities and Exchange Commission filing released on January 28, 2022. Immutable X just completed a $200 million funding round, bringing its worth to $2.5 billion.

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