On Monday, GameStop made an announcement that it has launched its digital asset wallet for cryptocurrencies and non-fungible tokens. It is in its fourth-quarter earnings report in March, announced its plans to start a NFT marketplace by the end of July.

A beta version of the self-custodial Ethereum wallet is now available to download from GameStop’s website. The firm partnered with layer 2 system Immutable X for its marketplace which will sit above Ethereum.

Without having to leave their web browsers, the digital asset wallet will allow gamers and others to store, send, receive and use cryptocurrencies and NFT’s across decentralized apps, said the video game retailer. Besides running on a blockchain or peer-to-peer network of computers and are outside the influence of a single authority, decentralized apps are very much alike to regular apps. 

“The wallet extension, which can be downloaded from the Chrome Web Store, will also enable transactions on GameStop GME –3.56% ’s NFT marketplace, which is expected to launch in the second quarter of the Company’s fiscal year,” said the press release.

Trading at the $98.2 level, the company’s stock price has already grown by 2.7% on this news. GameStop ($GME) shares have lost almost 50% of their value since the end of March, and 80% from their peak in January 2021. Back then when Reddit users cause huge short squeezes and multibillion-dollar losses of these funds when they launched a massive pump and dump attack on hedge funds, drawing the attention of the entire financial world to the stock. 


Like it? Share with your friends!

What's Your Reaction?

lol lol
45
lol
omg omg
30
omg
win win
15
win
fail fail
15
fail
love love
40
love
wtf wtf
10
wtf
cute cute
25
cute
scary scary
25
scary
cryptowizard

0 Comments