GameStop has announced that it will launch a non-custodial Ethereum Layer 2 (NFT) marketplace to help consumers trade and exchange digital assets. This is expected to go live during the second quarter of fiscal year 2022. It will support NFTs created on its own platform, as well as those created on other marketplaces.
GameStop NFT marketplace – College of Dietitians of Ontario
While it’s too early to tell whether this new venture will be successful or not, GameStop management does have some big plans for its NFT marketplace. They plan to expand the NFT marketplace’s functionality and reach into other sectors, like Web3 gaming. This means that gamestop nft marketplace expects to grow its revenue in the digital market.
CoinBase, meanwhile, is the most popular NFT marketplace with more than a million users. In January, it generated $2 billion in trading volume. But GameStop’s NFT marketplace has a stronger start than CoinBase. As of this writing, over $1 million was spent on MetaBoy NFTs, making it the most popular NFT collection on the marketplace.
The NFT marketplace uses Loopring to process thousands of transactions per second. It batches all marketplace transactions into a single large transaction block and then sends it to the Ethereum network. This makes the transaction process faster and cheaper.