On Wednesday, the head of growth at Loopring, Adam Browman, announced that the recently teased Gamestop NFT marketplace has launched its beta version using Loopring’s layer two (L2) technology. Browman says that with Gamestop’s new NFT marketplace leveraging Loopring’s ZK-rollup technology, the platform “inherits Ethereum’s self-custodial security while abstracting away costly gas-fees, leaving no one priced out.”
Gamestop Reveals NFT Market Built With Loopring’s L2 Tech
Gamestop, a videogame retailer giant has hinted at the launch of a marketplace using a non-fungible token. Gamestop announced a partnership last month with Immutable X, and revealed a $100,000,000 NFT fund. Now according to the team from the Ethereum L2 project Loopring, the beta version of Gamestop’s NFT market called beta.nft.gamestop.com is now live. The announcement was revealed by Loopring’s head of growth, Adam Browman on March 23. Browman’s blog post announcement states:
[With the new marketplace]Built on top of Loopring L2, it ensures users have the strongest digital property rights, anchored in a secure decentralized environment such as Ethereum.
Browman added that visitors can get early access and create a profile and username. Furthermore, Loopring’s head of growth noted that users can also “make deposits and be prepared for the full launch of the official marketplace coming soon.”
“We believe that today marks an important inflection point for the entire NFT space, and we are excited to be a part of what’s to come,” Browman added.
The End of Loopring Speculation
Statistics from l2fees.info show that on March 23, the average transaction cost to transact with Ethereum (ETH), was $2.15. Onchain Ethereum fees are charged to exchange a token. They cost approximately $10.74 per transaction. Loopring is currently $0.07 per transaction. According to l2fees.info, Loopring is the most affordable L2 method to send Ethereum. Loopring’s $0.75 fee to swap tokens onchain is 3.01% lower than $10.74 data transfer fees.
It was widely speculated that Gamestop might be working with Loopring in November 2021. At the time, a Canadian reporter asked Loopring’s CEO Daniel Wang about the Gamestop speculation. After the reporter told Wang that there’s been “a lot of rumors about a potential partnership with Gamestop” and then asked the CEO if the “potential deal” was legitimate, Wang replied:
That is something I can’t comment on.
Are you a Gamestop customer? What are your thoughts about Gamestop’s partnership with Loopring, the NFT marketplace launch and Gamestop’s new NFT platform? Comment below and let us know how you feel about the subject.
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