Gamestop Releases a Web3 Ethereum Wallet Using Loopring’s ZK -Rollup Technology

May 23, 2022

Gamestop Releases a Web3 Ethereum Wallet Using Loopring's ZK -Rollup Technology

Gamestop Releases a Web3 Ethereum Wallet Using Loopring’s ZK -Rollup Technology

Gamestop, a retailer of consumer goods 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 company’s website, allowing customers to store crypto assets and non-fungible tokens (NFTs). The wallet also makes use of Loopring’s layer two (L2) ZK-rollup technology to give users “quick [and] fairly priced transactions.”

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 firm will use Loopring’s ZK-rollups. Gamestop has now announced its non-custodial Web3 Ethereum wallet, which employs 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 gamers.”

“Getting started with Web3 is quick and secure with Gamestop Wallet.” “Buy, keep, exchange, display, and use Ethereum-based assets using your GameStop Wallet,” the wallet’s description states. Gamestop Wallet is a self-custodial Ethereum wallet, which means you have complete control over your wallet and assets at all times.” Gamestop’s wallet is similar to Metamask in that it delivers a desktop version of the program to the user.

While the NFT marketplace will employ Immutable X technology, the business partnered with Loopring on the wallet’s technology. On February 3, 2021, Gamestop teamed with Immutable X to create a $100 million NFT fund. The wallet’s privacy policy also states that the program does track the user’s data. “Contact and profile information, display names, email address, profile biography, Ethereum public address details, and Twitter and Reddit usernames” are among the data collected. According to the website, an iOS version of Gamestop’s wallet is “coming soon.”

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