Yes, you read that right
Gamestop had promised an NFT marketplace for a while now and has finally delivered on that promise, this however comes directly after another round of layoffs from the gaming retail giant.
The marketplace is already populated with many different types of art based NFTs. The GameStop NFT shop runs on the Ethereum main net and uses Loopring which is a layer-2 scaling solution along with Immutable X.
Loopring is a cheaper more energy efficient technology compared to Ethereum but it inherits the security of the Ethereum mainnet. This is done via bundling of transactions that are then subsequently committed to Ethereum in a single transaction on the mainnet.
This does not in any way discount the cooperation between GameStop and Immutable X which Immutable tweeted about stating that the platform is the “Preferred Partner” of the GameStop NFT marketplace, and continuing with their $100 million token fund for independent game developers.
GameStop plans to be a major player in the gaming NFT ecosystem and plans to have the marketplace be used for NFT items that can be used in video games, while currently all the projects on the marketplace are art the plan is to have gaming NFTs as the main focus of the platform. Users are able to set a display name and profile on the site as well as create their own collections.
One of our favorite collections
All of this comes on the heels of another round of layoffs made by the company to its corporate division and its Game Informer magazine and website.The company previously laid off 100 employees this past May and their Chief Financial Officer Michael Recupero. Contrary to this the company announced a four-for-one stock split as shareholders received three additional shares as a dividend
