Gus – Cryptocurrency Expert
GameStop said that its Ethereum-based wallet was currently in beta. The non-custodial wallet is presently accessible as a Chrome and Brave browser plugin, with intentions to release an iPhone app in the future. Users would be able to store, transmit, and receive Ether, NFTs, and other ERC-20 tokens through it.
Non-custodial implies that users will have complete control over their assets thanks to private keys that are only known to them. The configuration will work with hardware wallets, reducing the chance of being hacked or having your funds confiscated. Assets, on the other hand, cannot be retrieved if the owner loses their key. The wallet uses Ethereum's Loopring layer-2 scaling mechanism, which has cheap transaction costs and high throughput.
The American electronics retailer also stated that its NFT marketplace would open in the second quarter of this year as part of the announcement. Users will be able to utilize their wallets in conjunction with the NFT marketplace when it launches.
The earliest reports of a future NFT market surfaced in December 2021. Shortly after advertising an opportunity for a security analyst with knowledge in blockchain, NFTs, and cryptocurrencies, the firm began looking for NFT content writers. It signed a big agreement in February to develop an NFT marketplace using Ethereum (ETH) scaling solution Immutable X.
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