NFT marketplace

Another Start for GameStop

GameStop entered a partnership with Immutable X in February to guarantee future funding (in the form of IMX tokens) for its marketplace. A potential US$150 million in IMX has been negotiated but can only be accessed by GameStop once it reaches certain milestones.

For now, artworks are the only products on the marketplace; however, GameStop is set on the NFT gaming space and plans to bring NFTs to video games. The partnership with Immutable X has created a US$100 million token ‘grant’ fund in hopes of attracting game developers to the marketplace.

GameStop Now a Fully Fledged Crypto Player

In May 2021, GameStop announced development plans for an NFT platform on Ethereum and a new token ($GME). This move accelerated its evolution from a simple retail chain into the crypto industry proper.

Almost exactly a year later, GameStop launched its crypto and NFT wallet, branching further into the digital assets sector. It came in the form of an Ethereum-based browser extension, downloadable from the Chrome Web Store. The wallet is self-custodial and designed with the most recent marketplace addition in mind:

1/ You can swap tokens directly in your GameStop Wallet – you don’t have to go anywhere, or give up control of your assets to an exchange.

You can swap ETH and ERC20 tokens for one another, on Layer 1 using the 0x API, and on Layer 2 using the Loopring DEX. pic.twitter.com/yyXJcAP2Nu
— GameStopNFT (@GameStopNFT) July 6, 2022

A New York City vending machine is now allowing users to purchase NFTs with fiat currency. Having closed a US$3 million seed round last month, the bold new project from Neon brings a Solana-based NFT marketplace to the real world:

There’s a Vending Machine in New York City Selling Solana NFTs —

!!! Shout out to @solana and @neon_gallery … I think I might be switching from selling OpenSea to Neon!!!#NFT #nftart #SolanaNFTs #Solana #NEON https://t.co/2D8syxU2X5
— PixStarz (@PixStarzNFT) February 23, 2022

With the goal of simplifying the NFT purchasing process, Neon’s co-founder and CMO Jordan Birnholtz collaborated on the idea with a summer intern in mid-2021 and soon came to the realisation that when it comes to ease of use, a vending machine ticks all the boxes.

We built it because it shows how powerful and easy it can be to support digital artists, and to demystify the process of getting an NFT.
Jordan Birnholtz, co-founder and CMO, Neon

Crypto Support is Coming

The vending machine is mounted within a shallow shopfront, highlighted by neon lighting. Users can make a purchase with a credit card and scan a QR code stored within the dispensed envelope to claim their NFTs online. Last month’s seed round closed a US$3 million profit and Neon intends to support crypto payments in future.

Being featured in Yahoo Finance? I can finally prove to my mom that I am NOT a disappointment! https://t.co/H2rZw2aTn0
— Neon (@neon_gallery) February 23, 2022

Expanding Accessibility of NFTs

The New York Stock Exchange (NYSE) is rumoured to be launching an NFT marketplace of its own after it reportedly filed an application with the US Patent and Trademark Office.

As NFTs and cryptocurrencies develop, the financial sector is changing and updating its services to keep up. Mastercard has plans to offer consulting services for all things crypto this year. The brand’s payments-focused consulting service intends to expand its brief by catering to open banking, open data, crypto and digital currencies, and ESG.

By Lauren Claxton, Crypto News Guest Author