GameStop NFT

GameStop launches NFT Marketplace in Beta

Ethereum NFT platform launches just days after the retailer laid off another round of employees

GameStop has finally launched it’s Ethereum NFT marketplace, currently playing host to an array of artwork projects that run on the Ethereum mainnet as well as Loopring, a layer-2 scaling solution.

Gamestop is a U.S.-based video game, consumer electronics, and wireless services retailer. It operates more than 4,600 stores throughout the United States, Canada, Australia, New Zealand and Europe.

There are currently more than 200 collections on GameStop’s NFT marketplace and over 50,000 NFTs listed on the platform. As for the quality, we will let you judge that for yourselves!

“Over time, the marketplace will expand functionality to encompass additional categories such as Web3 gaming, more creators, and other Ethereum environments,” said GameStop in a statement.

While the focus right now is primarily on artwork, GameStop aims to be a major player in the NFT gaming space, in which NFTs are interactive items used within video games.

GameStop and Immutable X launched a $100 million token grant fund to bring game developers onto the marketplace and notes that gaming NFTs will be added in the future.

GameStop previously said its planned marketplace launch would come by the end of fiscal Q2 2022, and the launch meets that late July target. It comes following a busy week for the retailer.

On July 6, GameStop announced a four-for-one stock split that will see shareholders receive three additional shares as a dividend after the close of trading on July 21.

The following day, GameStop terminated Chief Financial Officer Michael Recupero and laid off an unconfirmed number of employees across the company.