LRC Gains Over 40% as GameStop and Loopring Launch NFT Marketplace
![](https://en.ethereumworldnews.com/wp-content/uploads/2022/03/IMG_6129-50x50.jpg"></p><ul><li>Global video gaming retail giant GameStop has officially stepped into the non fungible token (NFT) space with the beta launch of its marketplace.</li></ul><ul><li>The project is built using the Ethereum layer 2 solution Loopring.</li></ul><ul><li>Also, the news triggered a massive surge in LRC and GME market prices.</li></ul><p>According to a medium article published on Wednesday, the Ethereum layer 2 protocol Loopring teamed up with international consumer electronics company GameStop for an NFT marketplace. The platform has launched with a beta version for users to create their profiles and make deposits.</p><div class=)
The future of #NFTs are here + they're powered by #Ethereum's second layer?
Loopring L2 x @GameStop
Power to the players.
Power to the creators
Power to the collectors.#L222?https://t.co/0gdvKLivfp
Details from the announcement highlight that GameStop chose to tap Loopring for its NFT platform due to the protocols self-custodial security. Also, the layer 2 solution mitigates high gas fees commonly associated with Ethereum layer 1 transactions.
Loopring leverages zkRollup protocols to support optimized scalability and quick payments. The layer solution also offers a digital wallet and web application that provides access to a decentralized exchange.
GameStop also plans to leverage Loopring’s open mint function which launched earlier in March 2022. Since the feature was released, over 1 million NFTs have been minted on the layer 2 protocol.
Over 1 Million NFTs have been minted on Loopring L2 since the launch of open #NFT minting less than a month ago ?
Come join our amazing community of Lööpers in the Discord + mint some ultra-secure NFTs on #Ethereum for less than a dollar?
➡️https://t.co/hL5HQ3Ba8w pic.twitter.com/PQIb9jokFK
Following the news, both GameStop’s GME stock and Loopring’s native token LRC have experienced a hefty increase in volume. Data from CoinMarketCap shows that LRC has gained over 40% in the last 24 hours.
GameStop To Bridge Gap Between NFTs and Mainstream Gaming
The gaming giant initially announced plans to collaborate with another layer 2 solution – Immutable X for its digital collectibles marketplace back in February 2022. The retail heavyweight also announced a $100 million fund in Immutable’s native token IMX. Details from the announcement explained that the fund was geared towards supporting studios focused on developing NFT-based games.
GameStop hopes to establish a presence in the NFT space with its latest digital product. The move could also drive mainstream adoption of blockchain technology in the multi-billion dollar gaming industry.
GameStop, in partnership with Loopring, has the opportunity to cement itself at the forefront of this new NFT + gaming paradigm and become THE destination for new global digital economies.
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