By Nathan Ferguson
The much-awaited cryptocurrency wallet from GameStop has now finally been released in the form of an official public beta.
New Wallet and NFT Trading Platform
According to an official announcement from the firm, GameStop has stated that they will be releasing the public beta version of its much-awaited digital cryptocurrency and NFT wallet. Additionally, GameStop also announced the introduction of its very own NFT trading platform which has been scheduled to hopefully release in Q2 of this year.
As per the information released, the benefits of using the GameStop wallet are a much more advanced security system to keep cryptocurrency and NFT assets safe, the chance to take advantage of decentralized applications powered by Ethereum crypto and every single trade passing through Loopring Layer 2. The wallet will also handle custodial services by itself, and the wallet can be accessed using a safe and secure browser extension.
The situation regarding the stocks pricing of GameStop is seen to be sort of a roller coaster ride. As of now the stock price has increased about 2.7%, but it is still not enough to counter the major loss in value of the official shares of the company which have seen to drop of nearly 50% of its value compared to recorded price in March, with around 80% drop since its high back January of last year.
The peak last year had basically caused chaos in worldwide financial markets, as a reddit user had targeted the company’s hedge funds, leading to loss of billions worth of funds and overall value.
GameStop and the Crypto Space
GameStop has managed to show quite a presence in the cryptocurrency space, as it continuous to work on more projects that involve cryptocurrencies and NFTs. With the recent developments, the company is now recognized for its contributions towards the crypto space, as one of its board members stated that the firm has plans to connect its complete business model with the crypto space.
Furthermore, the firm also introduced Dogecoin and Shiba Inu payments for its customers, and now with the release of its new cryptocurrency and NFT wallet, alongside its very own NFT trading platform, the company has shown that they are looking for a customer base that is interested to work with cryptocurrencies instead of traditional currencies. Not only have these projects countered the poor financial status, but have also given the company a new way forward towards glory.