The famous US-based game retailer GameStop announced earlier this year that it would establish a unit on NFT and Cryptocurrency. As of today, GameStop’s Ethereum-based wallet has been officially released.
A few months ago, US-based game retailer GameStop announced that it would enter the NFT and cryptocurrency business. According to the statement released by GameStop at the time, a unit would be established for cryptocurrencies and NFTs. As you know, GameStop’s shares skyrocketed last year thanks to a ‘meme’ spread on Reddit.
This was one of the reasons why the company wanted to enter the cryptocurrency and NFT market, and even after its announcement, GameStop shares rose again. Starting today, GameStop’s wallet for cryptocurrencies and NFTs is officially released.
GameStop releases beta version of Ethereum wallet
GameStop has released a beta version of its own Ethereum-based wallet that will allow users to host, send and purchase both cryptocurrency and NFTs via their web browser. The wallet is currently available as an extension for Google Chrome and Brave, there is even an iPhone app available.
GameStop’s wallet is not under surveillance, meaning users can access their assets via a private key known only to them. While this makes it difficult for hackers to access the wallet, it also means that if the wallet owner forgets his key, they can lose all their assets.
GameStop’s wallet uses Loopring to process transactions, a ‘Layer 2’ method built on top of the Ethereum blockchain, which reduces power costs. Along with the launch of the GameStop wallet, the firm has announced that the NFT marketplace will also be available in the second quarter of this year.