Gamestop Launches Web3 Ethereum Wallet to enable cheaper transactions
The consumer electronics and gaming software retailer has unveiled its Web3 ethereum wallet to allow users process crypto and NFT transactions.
Gamestop has announced the launch of its Web3 Ethereum wallet to provide users with a wallet to store crypto assets and NFTs. It employs Loopring’s layer two (L2) ZK-rollup technology to enable seamless and cheaper transactions.
The wallet will support the holding of crypto-assets while also enabling storage of in-game NFTs, and as a self-custodial wallet, users will always be in complete control of their assets.
The wallet summary released by the team reads thus:
“Harnessing the power of Loopring’s ZK-rollup [tech] — an Ethereum Layer 2 scaling protocol – Gamestop gives you low-cost and fast transactions, with Ethereum security, opportunity, and global reach.
This allows you to reduce gas fees and network congestion while always remaining in control of your funds.”
Meanwhile, this announcement comes ahead of the anticipated unveiling of an NFT Marketplace by Gamestop in July. On Feb 3, 2021, Gamestop entered a partnership with Immutable X and launched a $100 million NFT fund. Hence, the upcoming NFT marketplace will utilize Immutable X technology.
The Web3 wallet is currently in its beta form and can be downloaded via Gamestop’s web portal.