Understanding The Gamestop NFT Marketplace And How It Works

Gamestop is a market-leading video game distribution company that has become a household name in the digital industry.

Gamestop is the most prominent digital video game distributor worldwide, offering customers great retail prices and refund options. However, the introduction of NFTs has forced Gamestop to adapt and introduce a new marketplace that will accommodate Web 3.0 capabilities. 

On July 11, 2021, Gamestop introduced an Ethereum-based NFT market beta, which was highly anticipated in the gaming landscape. With this development, Gamestop has proudly ventured into the Web 3.0 market, letting customers purchase and sell NFTs conveniently. 

This article will examine Gamestop’s NFT marketplace and how customers can acquire or sell NFTs. 

Gamestop NFT Marketplace: How Does it Work? 

Gamestop’s NFT market enables users to purchase, sell, mint, and exchange NFT assets swiftly and seamlessly. Gamestop emphasizes security and asset ownership, ensuring purchased NFTs are safely stored within the user’s self-custodial wallet. 

The Gamestop marketplace launched in July 2022 and quickly became one of the industry leaders in this field. Gamestop partnered with ImmutableX to enrich the platform with diverse Web 3.0 games and NFT collections, creating a robust and varied digital market. Gamestop’s royalty system allows artists and content creators to keep a share of all subsequent transactions of their assets. 

How to Set Up and Utilise Gamestop NFT Marketplace

It is pretty simple to start trading on the Gamestop NFT marketplace. First, users must link their wallets to a desired Web 3.0 wallet, like Metamask. Alternatively, they can install the Gamestop Wallet extension on the Google Chrome. Digital wallets can be customized in various ways, including different profile settings. Of course, users also need to transfer Ether funds to start trading on the marketplace. They can purchase ETH through the Gamestop digital wallet or transfer the crypto assets from their existing wallets linked to the Gamestop marketplace. After that, users can explore the digital market and purchase the NFTs of their liking. 

Conversely, to sell NFTs, users must obtain a creator status by accessing the Gamestop creator page. They must gather the NFT collection and upload it onto the digital platform. After that, uploaded virtual assets will undergo a review. Users can mint their collection and customize descriptions and other details if approved. Finally, creators can finalize their collection and put it up for sale. 

Final Takeaway

Despite entering the NFT market relatively later than its direct competition, Gamestop has positioned itself as a market-leading presence in the NFT gaming market. Currently, Gamestop’s economy is growing without any signs of slowing down. It will be fascinating to see if this promising platform reaches the heights of the NFT-powered potential. 

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