GameStop (GME) introduced a new digital asset wallet for storing, sending and buying cryptocurrencies and NFTs ahead of the launch of this year's NFT market. The beta version of the Ethereum wallet, which can serve without the need for any third-party software, has been opened on GameStop's website. The wallet, whose beta version is now available, will allow players to send and receive in-game assets without having to leave their web browser.

The wallet is currently available as an extension for Google Chrome and Brave, there is even an iPhone app available. GameStop's wallet is not under surveillance, meaning users can access their assets through a private key known only to them. This makes it difficult for hackers to gain access to the wallet. GameStop's wallet uses Loopring to process transactions, a 'Layer 2' method built on top of the Ethereum blockchain, which reduces power costs.

gamestop wallet

It was noteworthy that GameStop announced in its fourth-quarter earnings report in March that it will launch an NFT market by the end of July. The popular video game distributor has partnered with successful cryptocurrency Immutable X, which provides a layer 2 service for the NFT market that will be built on top of Ethereum.

The shares of GameStop, which is traded on the New York Stock Exchange, have experienced an increase of close to 3% after the announcement of these partnership and wallet agreements.

While NFT and the game industry seem to be integrating day by day, Square Enix, one of the biggest video game producers, believes that the NFT industry has a lot of potential.

Ubisoft, another video game producer, has made important breakthroughs about the NFT market in the past. If these processes continue to develop, it is estimated that the value of the winning cryptocurrencies will add value, while the NFT ecosystem is also thought to grow.