GameStop Acquires MetaMask With Crypto Wallet Beta Release


Gamestop has launched a beta version of a new digital wallet that enables in-game purchases of cryptocurrencies and non-fungible tokens (NFTs).

The retailer, better known for selling real games, has launched a new wallet with a browser extension that not only holds NFTs, but also allows you to buy, sell and trade tons of cryptocurrencies.

The wallet also exists as a browser extension and will provide a competition to the existing wallet MetaMask, which can connect to the NFT market.

MetaMask, released by ConsenSys in 2016, have It has 30 million users worldwide.

Cryptocurrency wallets basically contain a unique string of numbers called a key that acts as a cryptographic enabling the transfer of cryptocurrencies between two parties.

Robinhood recently launched wallets to its 2 million waiting list customers, as well as non-custodial wallets that can hold NFTs and connect to markets like OpenSea.

GameStop NFT Marketplace Coming Soon

The launch of GameStop comes months after the company has formed a team of 20 people to create an NFT marketplace that will launch in late July. The Marketplace offers NFTs for in-game items such as weapons and avatar outfits developed by some game studios.

This year, the company hopes to partner with 14 crypto companies and co-invest in blockchain game development after missing the video game streaming platform boom a decade ago.

The new wallet will allow transactions without leaving the gaming environment and will eventually become a mobile app, the company explained.

GameStop needs a management check during difficult times

The biggest losses were experienced by deepening annual losses due to a lack of floating population to offline stores due to the COVID-19 pandemic. Missing earnings estimates This led to a reshuffle of the management staff last March.

Although revenues increased through October of last year, the company’s losses increased as new chairman Ryan Cohen took a more technologically focused approach.

The company did not give up and instead opted for a long-term view. “I believe that focusing on the long term is positioning you to build a business that will ultimately become a much larger business.” said CEO Matt Furlong.

GameStop advises caution when using beta versions of new wallets. “This is a beta release. Use responsibly, and don’t add more money than you think,” the company said. said.

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