7.4 C
Tuesday, March 28, 2023

Gamestop Launches Web3 Ethereum Wallet That Leverages Loopring’s ZK-Rollup Tech

Gamestop Launches Web3 Ethereum Wallet That Leverages Loopring’s ZK-Rollup Tech – Gamestop, a retailer of consumer electronics and gaming software, has unveiled its self-custodial Web3 ethereum wallet this week.

The wallet is now in beta and is now accessible on the firm’s website, allowing users to store crypto assets as well as non-fungible tokens (NFTs). The wallet also makes use of Loopring’s layer two (L2) ZK-rollup technology to give users with “quick and fairly priced transactions.”

- Advertisement -

It’s been widely reported for some time that Gamestop was planning to enter the NFT sector and launch an NFT marketplace. Gamestop announced a partnership with the Ethereum L2 scaling project Loopring towards the end of March 2022, stating that the company would use Loopring’s ZK-rollups.

Also Read: Russian Appellate Court Cancels Decision to Block Tor Project’s Website

Gamestop has now announced their non-custodial Web3 ethereum wallet, which uses ZK-rollup technology to reduce transaction costs. The wallet will allow gamers to store NFTs earned in-game, as well as Ethereum-based crypto assets. Gamestop intends to start its NFT marketplace in July, with the goal of giving “power to the players.”

- Advertisement -

“Getting started with Web3 is quick and secure with Gamestop Wallet.” “Buy, hold, swap, display, and use Ethereum-based assets using your GameStop Wallet,” the wallet’s description says. Gamestop Wallet is a self-custodial ethereum wallet, which means you have complete control over your wallet and assets at all times.” 

The wallet summary from Gamestop also notes:

“Loopring’s ZK-rollup technology, an Ethereum Layer 2 scaling protocol, is used by Gamestop to enable low-cost, rapid transactions with Ethereum security, opportunity, and global reach. This allows you to reduce gas fees while keeping financial control and avoiding network congestion.”

Gamestop’s wallet is similar to Metamask in that it delivers a desktop version of the software to the user. While the NFT marketplace will have to use Immutable X technology, the company partnered with Loopring on the wallet’s technology. On February 3, 2021, Gamestop teamed with Immutable X to launch a $100 million NFT fund.

Also Read: Swiss Watchmaker TAG Heuer Now Accepts Cryptocurrency in US

The wallet’s privacy policy also states that the software does track the user’s data. “Contact and profile data, email address, display names, Ethereum public address details, profile biography, as well as Twitter and Reddit usernames” are among the data collected. According to the website, an iOS version of Gamestop’s wallet is “coming soon.”

- Advertisement -


Please enter your comment!
Please enter your name here

More From Evoclique