• May 27, 2022

GameStop launches its own wallet!

GameStop launches its own wallet!

GameStop, the American video game and electronics company, launched a wallet for Ethereum. It supports applications on that network, including decentralized finance (DeFi) and non-fungible tokens (NFTs).

According to GameStop, the wallet will eventually be available as a mobile application that can be downloaded directly to a smartphone. By the way, the launch is part of its Blockchain technology implementation plan.

In addition, the wallet uses Loopring Layer 2 to facilitate transactions. Which supposedly provides faster speeds and reduces the “gas” fees that come with processing Ethereum transactions.

Indeed, the news was confirmed by a group of users who corroborated that the beta version is already available. And you can download it from the official GameStop website.

By the way, the overturning of GameStop comes at a complicated time for the cryptocurrency industry. Since several major currencies collapsed in recent weeks.

It’s official! The GameStop wallet is here

Specifically, the company announced that the wallet is compatible with the Ethereum network. And it will allow users to store, send, receive and use tokens of all kinds, including NFTs. Through decentralized applications without having to leave the web browser.

«The wallet, can be downloaded from the Chrome Web Store. It will also allow transactions on the GameStop NFT marketplace. Which is expected to launch in the second quarter of the company’s fiscal year».

However, the wallet will also be integrated with GameStop’s future NFT Marketplace, which is scheduled to launch before the third quarter of 2022. Likewise, users will be able to take advantage of the company’s own infrastructure to buy, sell or exchange NFTs in a simple way. In fact, the wallet will control the user’s IP address, as well as GPS coordinates and data close to the device.

Likewise, GameStop has stressed that the wallet will be self-protecting. Therefore, the company will at no time store data on private keys, since each user will be responsible for his funds. In this regard, the company will apply very strict privacy policies.

As a curious fact, GameStop took to Twitter to urge users to be responsible with their new crypto wallet.

«This is a beta release. Use it responsibly and do not add more funds than you are comfortable with».

Previous works

To recall, in February, GameStop announced that it would launch an NFT marketplace with Australian Blockchain startup called Immutable X. The company also confirmed that the marketplace will launch sometime during the second quarter of this fiscal year.

In addition, in the same month, GameStop reported on the creation of a new unit dedicated exclusively to NFT games. Which would be related to their novel products.

I close with this quote from Wayne Dyer: “Progress and development are impossible if one keeps doing things as one has always done them».