GameStop Own Wallet for Crypto and NFTs

GameStop has announced a beta version of its Ethereum wallet, which will allow customers to store, transmit, and receive bitcoin and non-fungible tokens (NFTs) via their web browsers. The wallet is now available as a Chrome and Brave extension, but wallet website claims that it will soon be available as an iPhone app.

After GameStop was designated as a meme stock last year, the company’s fan base was split into two camps: gamers and investors. Many gamers despise Web3 as much as they used to despise GameStop preorder restrictions and insulting lowball offers for secondhand games and systems. After hearing about Ubisoft’s NFT incorporation in Ghost Recon, gamers reacted negatively, prompting makers of games like S.T.A.L.K.E.R. 2 and Worms to abandon their NFT projects completely.

The wallet is non-custodial, which means users may access their funds using a private key only they know. The configuration works with hardware wallets and decreases the possibility of it being hacked or confiscated, but it also means that if the owner loses their key, they lose access to the wallet’s contents. GameStop has revealed that its planned NFT marketplace would be ready somewhere in the second quarter of this year with the introduction of the new wallet. Users will be able to utilize their wallets in combination with the marketplace when it launches.

In February, GameStop unveiled the NFT marketplace, coupled with a $100 million fund aimed at convincing game creators to adopt it. Immutable X, another Layer 2 protocol meant to reduce the gas expenses associated with Ethereum transactions, is teaming with the firm for its debut.