NFT Marketplaces are witnessing a whole new transition and we can’t be more excited for the phenomenon. Amidst this, we are witnessing the rise of a new star- Gamestop NFT Marketplace, launched on July 11, 2022.
This overnight star has overshadowed some of the best NFT Marketplaces with making $45,000 in transaction fees in its first 24 hours!!!
The GameStop NFT marketplace lets users, gamers, creators, collectors and other community members to smoothly trade NFTs. It is all set to make its foothold stronger in the NFT space and honestly we might get to behold the marvel sooner than later!!
What is the GameStop NFT Marketplace?
The GameStop NFT Marketplace is a non-custodial marketplace developed on Ethereum Layer-2 based blockchain called the Loopring Layer 2 scaling solution. In short, GameStop is your destination to some of the uber-cool NFTs that allows you to trade unique artwork and digital collectibles!!
Loopring makes the GameStop wallet a lot cheaper and more efficient than wallets based on Layer 1 Ethereum mainnet. Furthermore, these uber-cool NFTs can also be transferred between collectors, and can even be re-traded on other marketplaces.
GameStop NFT marketplace has already outraced other marketplaces as it has successfully surpassed Coinbase NFT marketplace in just two days of its debut. GameStop NFT marketplace will incorporate more functionalities to involve categories including Web3 gaming, more creators and other Ethereum environments.
GameStop is also looking forward to supporting immutableX L2 in the near future. GameStop took everyone by surprise when instead of a NFT, it launched a NFT Marketplace at a time when Cryptos were bleeding red. Thus, giving a new hope to the crypto fanatics!!
How to use GameStop NFT Marketplace?
Using GameStop NFT marketplace is quite an easy process, thanks to the Layer 2 scaling solution. The first thing one needs to get started with the trading on the GameStop NFT marketplace is GameStop wallet and then follow these easy steps:
- Create a Wallet
Certainly, the fundamental step is to install and use GameStop Wallet. Followed by this, the wallet must be added to Chrome once it is confirmed that we want to install the extension.
Additionally, note that browser wallets like MetaMask, or any other wallet can be used too through the universal WalletConnect technology.
- Funding the wallet with Ethereum
After creating a wallet, you’ll have to fund it with some Ethereum(ETH). How do you go about it? There are two ways – Firstly, you can buy ETH directly into your linked wallet from any of the payment providers that is permitted by the GameStop Marketplace. After this, ETH will be deposited into users’ wallets on Layer 2, thus quickly allowing one to buy NFTs.
Another alternative to this is, by transferring funds from an existing wallet on Ethereum Layer 1 to the Layer 2 account that was previously connected on GameStop NFT marketplace. The ETH that was deposited to Layer 2 will be available in the balance while you buy NFTs on GameStop.
- Buying the NFT
Well, the last thing to do after getting the above steps clear, is simply buying the desired NFT. (quite a cakewalk!)
When you are willing to buy an NFT, simply click on the ‘Buy’ button from the NFT’s detail page. Following this, you’ll be asked to confirm the transaction. As soon as the confirmation is done, you will bag an NFT with your ETH.
In case you wish to sell your NFT, transfer it, or withdraw it to Layer 1, hit the ‘[…] menu’ of the NFT in your collection.
Conclusion
There is certainly no stopping for GameStop NFT Marketplace as it has reportedly seen a trading volume of at least 3,167 ETH. Yes, a whopping $3.5 million!!
The promising launch of this NFT Marketplace has stunned many crypto pundits and an attestation to this is, its growing stock at 10% ($141.28).
Another trivia that’s not so trivial is that the GameStop NFT marketplace has quickly overshadowed the all-time volume of a popular Web3-native firm Coinbase. We certainly do not know what the future holds for GameStop, but the speculations give away something subtly (take the hint)!!
