The Loopring protocol has announced a collaboration with MNC electronics company GameStop to launch the Beta version of the NFT marketplace.
The platform built on Loopring L2 – has launched a beta version for users to create profiles and make deposits, with the full marketplace to follow shortly.
GameStop chose Loopring for its NFT platform because of the protocol’s self-custodial security. Also, the layer 2 solution reduces the high gas fees that are associated with Ethereum L1 transactions. It will ensure that users have the most powerful digital property rights, supported by a secure, decentralized, and credibly neutral environment
Loopring believes that high costs have priced out many users, gamers, and developers. This new world must be fast, cheap, and secure for customers in order to keep players in power.
Therefore, Loopring L2 users can mint NFTs for less than $1. Over 1 million NFTs have already been created on the Loopring platform.
The announcement stated that the partnership aims to “cement itself at the forefront of this new NFT + gaming paradigm and become THE destination for new global digital economies.”
The Metaverse and NFT marketplace are evolving leading to gaming and digital ownership of non-fungible virtual products. Back in early February, Immutable X became an Ethereum L2 partner for GameStop’s NFT marketplace, enabling zero gas fees for trading and minting NFTs in a carbon-neutral environment.