Wednesday, November 29, 2023

GameStop launches a non-custodial crypto wallet compatible with NFTs

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GameStop, a video game retailer, has announced today the launching of its cryptocurrency and non-fungible token (NFT) wallet as it ventures into the world of digital assets.

GameStop said in a press release that the wallet is a self-custodial Ethereum wallet that will enable gamers and other users to send, store, receive and use NFTs and cryptos across the decentralized apps without the need of leaving their web browsers.

The company also noted that the web browser extension for the wallet is available on Chrome Web Store for download.

 The newly launched digital asset wallet will also allow transactions on the GameStop NFT marketplace; however, this is expected to launch in the second quarter (Q2) of the GameStop fiscal year which will be in early July.

GameStop popularity

GameStop’s popularity grew during the pandemic as an outstanding meme stock and earlier this year, in January, it partnered with immutable X to create the NFT marketplace. Immutable X, an Ethereum Layer 2 for NFTs created with StarkWare’s ZK-rollup technology, helps to lower gas fees as well as increase scalability.

According to the deal terms, Digital Worlds plans to give about $100 million IMX tokens to NFT developers and about $150 million to GameStop as it encounters certain milestones.


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