GameStop Launches Ethereum-Based Non-Custodial Wallet

SAN RAFAEL, CALIFORNIA - DECEMBER 08: The GameStop logo is displayed on the exterior of a GameStop store on December 08, 2021 in San Rafael, California. Video game retailer GameStop will report third quarter earnings today after the closing bell. (Photo by Justin Sullivan/Getty Images)

In furtherance of its push into the digital currency ecosystem, video game, and electronics retailer, GameStop Corp has announced it has launched a new crypto wallet as a web browser extension.

As the company revealed, the new crypto wallet is suitable for gamers and anyone who may want to “store, send, receive and use cryptocurrencies and non-fungible tokens (“NFTs”) across decentralized apps without having to leave their web browsers.”

GameStop said the wallet is built based on the Ethereum network and it is a self-custodial wallet, a reference to the fact that users have complete autonomy over their funds as the top wallets in the Decentralized Finance (DeFi) ecosystem operates. The GameStop wallet extension can be downloaded from the Chrome Web Store, showing its availability comes with no restrictions whatsoever. 

The launch of the GameStop wallet is yet another product that will help cement the company’s anticipated NFT marketplace. As detailed by the video game retailer, the new wallet “will also enable transactions on GameStop’s NFT marketplace, which is expected to launch in the second quarter of the Company’s fiscal year,” a time that corresponds to July this year.

Ambitious Web3.0 Pursuit from GameStop

GameStop is stopping at no length to plant its feet in the emerging world of crypto and Web3.0 as a viable model to shoot up the entertainment offerings it grants its customers across the board.

Despite its positive tilt towards the Ethereum blockchain network to power its blockchain expansion, the company recently tapped the services of Layer-2 protocol Loopring to help build the anticipated NFT marketplace.

“Loopring has built the rails for creators to deliver high-performance applications that rival the speeds and scalability of Web2, while also empowering users to receive provable ownership and control over their assets in Web3. These massive speed improvements and lower costs open up the design space for NFTs and gaming that were recently unimaginable,” the company detailed.

Besides Loopring, GameStop also has an active partnership with ImmutableX as it seeks to leave no stone unturned in broad pursuits.