GameStop Taps Loopring’s Tech for New Non-Custodial Web 3.0 Ethereum Wallet

On Monday, video game and electronics retailer GameStop announced the launch of a new wallet that allows “gamers” to store, send, and receive cryptocurrencies and non-fungible tokens (NFTs) across different dApps.

On Monday, video game and electronics retailer GameStop announced the launch of a new wallet that allows gamers to store, send, and receive cryptocurrencies and non-fungible tokens (NFTs) on different dApps.

GameStop Launches Non-Custodial Wallet

GameStop announced the launch of its all-new, browser-based wallet in preparation for the release of its online NFT marketplace.

Sponsored

The new non-custodial wallet from GameStop will allows gamers to access, spend, and trade cryptocurrencies and other digital assets without leaving their games.

The new Web 3.0 Ethereum wallet, which leverages Loopring’s ZK-rollup technology for cheaper transactions, can host and transact ETH, NFTs and ERC20 tokens.

GameStop Leverages Loopring Tech for New Wallet

According to GameStop, its Web 3.0 wallet will eventually launch as a mobile app that can be downloaded on smartphones.

The announcement had a positive impact on the value of GameStop (GME) shares, which jumped nearly 3% in pre-market trading on Monday. At the time of writing, GME trades at $96.13, up from its prior $93.6 pricepoint.

On the Flipside

  • Gamestop plans to launch the company’s NFT marketplace in July with the overall vision of giving “power to the players.”

Why You Should Care

GameStop’s foray into Web 3.0 may be an attempt to revitalize its brand after reporting relatively poor earnings for Q1 of 2022.

Sponsored

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia