In a blog post by Loopring’s head of growth, Adam Browman states that “the GameStop NFT Marketplace has taken its first steps to welcome users, and it is built atop Loopring!”
Browman believes that the project “has the potential to cement itself at the forefront of this new paradigm and become the destination for global digital economies.” The blog post states that users can get early access to the project now to set up usernames and profiles, as well as make their first deposits.
GameStop and NFTs
Rumors circulating since November suggested that Loopring might be working with GameStop on a metaverse-related project. The Wall Street Journal reported in January that GameStop was planning to build a new team focused on NFTs.
Soon after that announcement, GameStop mentioned Immuntable X as their primary partner for the project. Despite this fact, Loopring was mentioned at the time in an SEC filing.
According to an article from Decrypt, there has been a lot of confusion on the topic and who is powering the NFT marketplace. It turns out that both Loopring and Immutable X are powering the NFT plans of GameStop. Although Immutable X tweeted in a thread how they are the “preferred partner”.
Immutable mentioned the Loopring integration “was not a surprise (and we welcome them!).” The marketplace will act as an aggregator across NFT minting platforms. Although, it appears that Immutable X will receive the most focus on the marketplace being the “preferred partner”.
Since the announcement, $LRC, the native token of Layer 2 blockchain Loopring has soared over 35% to a high of $1.21. Although it is now trading steadily at $1.09. Loopring is currently sitting at a market cap of US$1.46 billion, according to data from CoinMarketCap.
$IMX, the token on the Immutable X blockchain is down 8.9% in the past 24 hours, trading at $2.19, according to data from CoinMarketCap.
The other company in the mix, GameStop also had a huge day seeing a 14.5% gain to $141 in GME stocks. Over 24 million GME shares were traded today alone.
