Dive Brief:
GameStop on Monday announced the beta launch of its digital asset wallet for users to store, send, receive and use non-fungible tokens and cryptocurrency, according to a press release.
The video game retailer said the wallet will enable transactions with GameStop’s NFT marketplace, which is expected to launch in the second quarter of its fiscal year.
The GameStop Wallet is a self-custodial Ethereum wallet, meaning users have complete control of assets but can’t recover their accounts if login information is stolen or lost. The wallet is currently accessible through a web browser extension.
Dive Insight:
GameStop is entering a new arena with its digital wallet — one that already has some heavy competition from companies like Robinhood and Coinbase. The GameStop Wallet touts its ability to let users operate without leaving their browser and provides lower transaction fees through Loopring Layer 2, a set of protocols to resolve common congestion issues from the Layer 1...
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