GameStop didn’t stop. While you might think retail stores are the best place to buy a PlayStation 5 or Xbox Series X, the company went into a memestock frenzy last year, fueled by Reddit users.
But GameStop seems to have its revival in mind, and has actually started releasing some interesting products that could turn the struggling high street game and electronics retailer around.
GameStop has Announce (opens in new tab) impending crypto wallet (opens in new tab), allowing users to store their coins and NFTs in one place.The news was announced at GameStop NFT market (opens in new tab)which is also coming soon.
“GameStop Wallet is a self-hosted Ethereum wallet,” the company said, meaning users use a unique private key to access the wallet, similar to a Bitcoin hardware wallet.
“Wallet extension, available from Chrome Web Store (opens in new tab), will also enable trading on GameStop’s NFT marketplace, which is expected to launch in the second quarter of the company’s fiscal year. “
Offering the wallet as a Chrome extension is an interesting move by GameStop to help avoid the problems of getting apps into the App Store and Play Store. No exact release date was given.
Unless you’ve been living on a remote island, you’ve probably seen something about the crypto craze that has gripped the online world during the pandemic.
The prices of Bitcoin and Ethereum have soared, Web3 is now a buzzword, and billions of dollars have poured into crypto startups from all walks of life.
For GameStop, a company that’s past its heyday, it makes sense to get involved.
The problem will come from any technical flaws within the wallet, which can cause users to lose a lot of money.
Cryptocurrencies are absolutely full of scams, hackers, and other actors trying to ease the burden on people’s NFTs and funds, which means security needs to be a priority and users should take precautions when buying and selling.