NFT Market Dive; GameStop Still Going Strong in First Month

Farah Diana Patcha . July 21, 2022

Photo: nytimes.com


Techspace - Today, the new GameStop marketplace has reached $7.2 million worth of trading volume, even though this platform launched amid the fall of the crypto market that is affecting non-fungible tokens (NFTs). However, the GameStop marketplace is still going strong by now, even though the daily sales are declining day by day. 


The biggest transactions in the GameStop marketplace currently held by MetaBoy with total $1.7 million sales, which is the most popular collection in the marketplace for now. 


Read also: Top 8 the Most Expensive NFTs Ever!

Cited from CoinDesk, the reason why GameStop  is still going strong as a NFT marketplace is because of the customer’s loyalty towards the brand, rather than seeing the marketplace’s technology. Moreover, The GameStop NFT marketplace also receives great attention and responses on social media Twitter. Thus, as long as the marketplace gets positive sentiment, it may last and grow bigger all the time. 


Earlier this month, GameStop, a high-street video game retailer, released their own NFT marketplace. It was announced by the company on July 11 that the marketplace is now open to the public from their press release, despite the website currently being on Beta testing. Within 12 hours, the marketplace gained transactions worth over $1 million in trading volume. 


Read also: Reddit Launch Collectible Avatars!

Photo: nftdistric.com

The new GameStop’s marketplace allows users to create, mint, sell, or trade NFTs by connecting users’ accounts to the more than 10 supported crypto wallet, such as Metamask and the Gamestop wallet. In addition, the platform charges a 2.25% marketplace fee for every transaction. 


There are more 240 collectible assets collections inside the marketplace, with most of the assets being NFT assets, such as Ape and Cat-themed collections. 


The platform is built on Loopring blockchain technology, a blockchain that has Ethereum layer-2 zk- Rollup protocol. This blockchain is chosen to strengthen the ability to convert decentralized cryptocurrency to NFT marketplaces. GameStop is also planning to add Immutable X, a Layer 2 Ethereum-based blockchain in the future. 


To access the marketplace, pelase visit The GameStop NFT


Previously in May this year, GameStop also launched their own crypto and NFTs wallet in their website called GameStop wallet, which allows the users to transfer their game assets to other accounts without leaving their web browser. 


(FDP)


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