GameStop’s NFT Marketplace Partners with Loopring to Build on Layer-2, Beta Version is Now Live

GameStop’s NFT marketplace is powered by Loopring for cheap, fast and secure NFT transactions.
Image source: Loopring

Quick take:

  • GameStop NFT marketplace is now live in beta.
  • The platform hopes to become the go-to destination for gaming-focused NFTs.
  • Users can mint NFTs directly on Loopring for under $1.

GameStop and Layer-2 protocol Loopring have entered a partnership for the GameStop NFT marketplace. Loopring announced the partnership in a blog post today, adding that the GameStop NFT marketplace is now live in beta.

“It’s no secret that NFTs have become mainstream and are quickly becoming the next frontier of gaming, and the future of digital ownership for unique digital goods and property,” wrote Loopring’s head of growth, Adam Browman.

Recognising that developers, gamers and users are priced out due to high gas fees, GameStop and Loopring want to provide cheap, fast and secure access to the NFT marketplace for the masses.

While the pioneering NFT marketplaces built on Ethereum are gradually integrating other blockchains, GameStop’s NFT marketplace has chosen to build on Layer-2 first, bypassing Ethereum’s Layer-1 altogether.

In this partnership, GameStop hopes to become the go-to destination for gaming-focused NFTs. To achieve this goal, the GameStop NFT marketplace is built atop Loopring’s Layer-2 solution so that users can receive digital property rights anchored by Ethereum, which provides a secure, decentalised and neutral environment.

Loopring’s Layer-2 inherits Ethereum’s self-custodial security while eliminating costly gas fees. Users can mint NFTs directly on Loopring’s Layer-2 for under $1. More than a million NFTs have been minted on Loopring Layer-2 since the launch of its open NFT minting in February.

“We truly appreciate such a great opportunity to work with @GameStop on multiple blockchain products. This is certainly not the end of the partnership, and we’ll continue helping GME polish their products and improve user experience,” tweeted Daniel Wang, founder and former CEO of Loopring.

Wang stepped down as CEO in February and currently serves as an advisor to Loopring. His tweet hints at more blockchain products to come under Loopring’s partnership with GameStop.

GameStop has previously announced a partnership with Immutable X to develop its NFT marketplace. Immutable X will also become a Layer-2 blockchain for the platform.

On Mar 17, GameStop announced that it intends to officially launch the NFT marketplace by the end of Q2 this year. 

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