GameStop launches self-custodial crypto wallet

Video game retailer GameStop announced on Monday that it has launched a crypto and non-fungible token (NFT) wallet, as it prepares for a push into the world of digital assets. 

The self-custodial ethereum wallet will allow gamers and others to store, send, receive and use cryptocurrencies and NFTs across decentralized apps without having to leave their web browsers, the company said in a press release

Available via the Chrome web store, it will also enable transactions on GameStop’s NFT marketplace, which is expected to launch in the second quarter of the company’s fiscal year, beginning July. 

The retailer, which surged to prominence during the pandemic as a notable meme stock, partnered with Immutable X in January of this year to build out the NFT marketplace. Digital Worlds plans to grant up to $100 million in IMX tokens to NFT creators and up to $150 million to GameStop itself as it meets certain milestones, according to the terms of the deal.  

Immutable X is an Ethereum Layer 2 network for NFTs built with StarkWare’s ZK-rollup technology, which purports increased scalability and lower gas fees.

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