This week Gamestop, a major powerhouse in the gaming sector providing electronics and software, has officially announced the company’s own Web3 Ethereum based, Wallet. This self-custodial wallet and leverages Loopring’s Layer2 (L2) ZK-rollup technology which provides “fast [and] fairly priced transactions.” The Wallet is currently in beta and available as a Chrome-based Addon. IOS app currently under development. A major element of the wallet is to store non-fungible tokens (NFTs) which gamers believe will be a massive market, allowing creators to store game based NFTs.
Gamestop Wants to Bring Power to Players via the Company’s Self-Custodial Ethereum Wallet
For quite some time now, it’s been well known that Gamestop was getting into the NFT space and that the gaming software retailer planned on releasing an NFT marketplace. At the end of March 2022, Gamestop explained it had partnered with the Ethereum L2 scaling project Loopring, and noted the company would leverage Loopring’s ZK-rollups.
Now Gamestop has unveiled its non-custodial, Web3 ethereum wallet that uses the ZK-rollup tech for cheaper transactions. The wallet will allow gamers to store in-game NFTs, but it also holds Ethereum-based crypto assets as well. Gamestop plans to launch the company’s NFT marketplace in July and aims to give “power to the players.”
“Gamestop Wallet is a simple and secure way to get started with Web3. Use your GameStop Wallet to buy, hold, swap, display, and utilize Ethereum-based assets,” the wallet’s description says. Gamestop Wallet is a self-custodial ethereum wallet, meaning you are always in full control of your wallet and assets.” Gamestop’s wallet summary further notes:
Harnessing the power of Loopring’s ZK-rollup [tech] — an Ethereum Layer 2 scaling protocol – Gamestop gives you low-cost and fast transactions, with Ethereum security, opportunity, and global reach. This allows you to reduce gas fees and network congestion, while always remaining in control of your funds.
Gamestop’s wallet is similar to Metamask and provides the user with a desktop version of the software. While the company worked with Loopring on the wallet’s technology, the NFT marketplace will use Immutable X technology. Gamestop partnered with Immutable X on February 3, 2021, and launched a $100 million NFT fund.
What do you think about Gamestop’s ethereum wallet? Let us know what you think about this subject in the comments section below.
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