- In recent weeks, markets have seen a decline in NFT sales because of a more significant overall fall in cryptocurrency.
- GameStop is already hinting that Immutable X support, an Ethereum-based platform used by several NFT games, will be available shortly on the NFT marketplace portal.
GameStop is proceeding with establishing its own NFT marketplace, which is currently open in what the business calls a “public beta.” In doing so, it is disregarding the entire “crypto winter” issue.
You can currently purchase, sell, and create NFTs using the platform. You can browse more than 200 collections, and more than 53,000 NFTs have been listed in the marketplace. The art seems to be typically like NFT material. To cite an example, you can find a few strange cats and monkey-themed collections in just a few minutes of browsing.
It may not be surprising that one can connect the recently released GameStop Wallet to manage digital assets and can also utilize services like WalletConnect and MetaMask. Additionally, potential creators must apply before they may want to upload an NFT to the platform.
According to a press release, GameStop has greater plans for the marketplace. It plans to “expand functionality” into things like Web3 gaming. GameStop is already teasing that Immutable X support, an Ethereum-based platform used by several NFT games will be available shortly on the NFT marketplace portal. GameStop and Immutable X have also started a grant initiative worth USD 100 million.
In February, the game shop first declared that it intended to launch its NFT market. However, in recent weeks, markets have seen a decline in NFT sales because of a more significant overall fall in cryptocurrency.
Cryptocurrency companies like Coinbase, BlockFi, and Crypto.com have been forced to lay off employees to sail the tide. Nonetheless, GameStop is moving forward with its ambitions despite its difficulties.
In a statement to employees regarding the layoffs, CEO Matt Furlong cited GameStop’s blockchain division in the very first phrase. Days later, GameStop is starting its NFT market, and it appears that crypto activities are a significant part of the company’s future.