Earlier than expected: GameStop’s NFT marketplace.
The beta version of the GameStop NFT marketplace is now available to a limited number of consumers, and the full version is scheduled to be released before the end of the year. The beta version of GameStop’s marketplace is powered by Loopring, which the company said earlier this week had been integrated (LRC).
It was created to facilitate decentralized cryptocurrency exchanges in NFT markets, and it is an Ethereum layer-2 zk-Rollup protocol called Loopring (LRC). On Wednesday, 23 March 2022, Loopring, made the following announcement via its official Twitter account, “The future of #NFTs are here + they’re powered by # Ethereum’s second layer Loopring L2 x @GameStop Power to the players. Power to the creators Power to the collectors. #L222.”
The beta for GameStop’s marketplace has officially gone live, according to Adam Browman, Loopring’s head of growth. Both Loopring and GameStop are pleased with the current development, which moves them a step closer to their respective aims.
NFT marketplace program is usually closer than expected by GameStop every time we hear from them. In the last several weeks, we thought the market to be ready by the end of Q4, but it seems like GameStop’s NFT marketplace will open fully in Q2.
Following the introduction of their relationship with GameStop, Loopring saw an increase in users.
Loopring (LRC) is a decentralized exchange that has announced a cooperation with GameStop to assist in the delivery of the latter’s NFT marketplace. Twitter users soon started publishing pictures indicating that it is now able to connect Loopring wallets with the GameStop NFT marketplace.
Quite astoundingly, Loopring’s coin price has increased by more than 40% in the previous few hours. Rollups, a Layer 2 solution that helps aggregate transactions outside of Ethereum’s principal blockchain, are one reason why the relationship between GameStop and Loopring is noteworthy.
It is possible to aggregate and publish transactions on the main chain using rollups. Because of Ethereum’s very high transaction costs (known as gas fees), this method is better than any other.
Efforts toward a same aim
In the NFT universe, everyone is eager to work together to attain their objectives. This is obvious when we examine the NFT space. Loopring joins Immutable X as an official partner of GameStop’s NFT endeavors with this agreement.
GameStop revealed important information regarding Loopring in its Form 8-K SEC filing earlier this year; only a few weeks later, the rumors have come to fruition. Loopring has a bright financial future ahead of it, thanks to the debut and growth of GameStop’s NFT marketplace.
It seems that the relationship between GameStop and Loopring will be entertaining and profitable for both sides.