As the overall market endures a ‘Crypto Winter,’ which is showing its effects on sales volume for nearly all major crypto platforms, GameStop on June 11 announced the launch of its very own non-fungible token (NFT) marketplace. Simply called GameStop NFT Marketplace, the platform is currently in its “public beta” phase. For those unaware, NFTs are unique entities that exist on a blockchain. If you own an NFT, you can rest assured no one else will be able to own the exact same NFT with the exact same features, unless you decide to sell it.
At the time of writing, GameStop NFT Marketplace has over 240 collections on offer, with over 53,500 unique NFTs. Apart from the recently launched GameStop Wallet, customers can also choose to use further options, including the likes of MetaMask and WalletConnect. The marketplace is based on Ethereum Layer 2.
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Creators will need to apply to be able to produce NFTs and sell them on GameStop NFT.
GameStop said in a press release that “over time, the marketplace will expand functionality to encompass additional categories such as Web3 gaming, more creators, and other Ethereum environments.”
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.