GameStop Rolls Out Self-Custodial Wallet for Cryptocurrencies and NFTs

GameStop, an American videogame retailer, announced the launch its digital asset wallet. GameStop’s shares (GME) increased by more than 2 percent premarket Monday to $98.02. It traded at $95.66.

GameStop Wallet

GameStop’s self-custodial Ethereum wallet, which is now available to users, will allow them to store, send and receive cryptocurrencies and other non-fungible tokens (NFTs), across decentralized apps without leaving their web browsers. It’s built on Loopring’s ZkRollup to make it easy and cost-effective to transact.

Officially, the wallet will allow transactions on GameStop’s NFT marketplace. This is expected to launch in the second quarter. The wallet will track the user’s IP address and GPS coordinates as well as data close to the device.

The privacy policy states that users will not be able to access or store their private keys that are associated with their wallets. Users are responsible for managing their own funds. The statement says,

It also tracks clicks, mouse position and keystroke logging.

This move comes after GameStop reported a net loss in the fourth quarter 2021 of $147.5, compared to a profit of over $80 million in the same period last year.

NFT Marketplace

GameStop’s search for crypto-skilled security analysts dates back to April 2021. It published a month later, hiring campaigns for developers, gamers, marketers, community leaders, and designers for its NFT project.

The firm did not announce its intention to explore “much-hyped” areas in an attempt to grow its core videogame business until January.

GameStop selected the Ethereum layer-2 scaling solution, Immutable X as its technology for its upcoming marketplace. This was a big step forward in the long-rumored NFT project. They also created a $100 million token incentive funds that focuses on NFT gaming. It will also be used for financial backing of content creators and platform developers.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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