GameStop NFT Marketplace Beta Live on Loopring
- The beta version of GameStop’s NFT marketplace allows users to mint NFTs, though the trading functionality is yet to be activated.
- Whlie GameStop did integrate with Loopring’s layer-2 technology, its “preferred partner” remains Immutable X, with which it partnered back in February.
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GameStop has launched a limited-functionality beta of its non-fungible token (NFT) marketplace on Ethereum layer-2 protocol Loopring, the network said in a press release on 23 March.
According to the announcement, users can now connect their Ethereum wallets to GameStop’s NFT marketplace, add funds via Loopring, and mint NFTs on the network, which was designed to provide “fast, cheap and secure” access to digital assets. Although the marketplace allows users to mint NFTs and set their display names and profile, it is yet to activate its trading functionality, which is reportedly coming soon. Loopring said in the press release:
“In order to return Power to the Players, access needs to be fast, cheap, and secure for the masses. GameStop, in partnership with Loopring, has the opportunity to cement itself at the forefront of this new paradigm and become the destination for global digital economies.”
It is not surprising that GameStop decided to integrate with Loopring, considering the network uses zkRollup technology to bundle thousands of transactions, and then commit them to Ethereum’s mainnet in a single transaction. This allows the network to significantly improve speeds and reduce costs, while still maintaining Ethereum’s self-custodial security.
The “preferred partner” of GameStop’s NFT marketplace however is Immutable X, which partnered with the games retailer back in February, launching a $100 million token incentive program for game creators and developers. Immutable X noted in a Twitter thread on Wednesday that it was “not surprised: by the Loopring integration, and that GameStop’s marketplace will act as an aggregator across NFT minting platforms.
- Coinbase’s Base blockchain was made available to the public on Wednesday, featuring over 100 dApps and services as part of its ecosystem.
- In order to show its capabilities and promote its mainnet partners, Base has also launched an event called “Onchain Summer” that will allow users to mint exclusive NFTs on the network.
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- Coinbase’s protocol security team and over 100 external security researchers were involved with testing the upcoming layer 2 Base blockchain over the past six months.
- The project said it has now completed four out of five criteria for Base’s mainnet launch, with the remaining one being to demonstrate “testnet stability”.
- Users of Binance NFT can now use select blue-chip NFT collections as collateral to take out cryptocurrency loans.
- The platform will initially support only loans in ETH, and NFT collections Bored Ape Yacht Club, Mutant Ape Yacht Club, Azuki, and Doodles.