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Loopring GitHub suggests GameStop has bigger plans for crypto and NFTs

The buyback of GameStops NFTs and the potential for Loopring to be used with them is an indicator that we may see games on a blockchain.

Loopring is a decentralized exchange that allows trading of ERC-20 tokens and Ethereum based NFTs. It has recently been suggested that GameStop may be looking to integrate Loopring into their stores. This could lead to an increase in the use of crypto and NFTs, which could potentially create more demand for these assets.

According to a leak in the Loopring GitHub public repository, a contract with GameStop for an NFT marketplace might be in the works.

GameStop Due Diligence conducted a thorough investigation on the GitHub change in issue, pulling together facts that led to this conclusion.

“In the branch “NFT-DEV” of the GitHub commit headed ‘NFT feature,’ there is a reference to “gameStopMeta” and an IPFS URL.

IPFS is a distributed file, website, application, and data storage and access system. GameStop was previously known to have employed IPFS at their initial NFT project disclosure.”

GameStop has said that it plans to expand its business strategy. But, apart from rumors, the faltering electronics store hasn’t revealed any firm ideas on what this entails.

Before the Loopring data was leaked, some speculated that the company would naturally gravitate toward blockchain technology.

According to recent job advertisements, they seem to be aiming to go all-in.

GameStop is sweltering.

GameStop is lucky to have a strong corporate value thanks to the WallStreetBets scandal earlier this year. However, given the company’s continued losses, others argue that this is a position it doesn’t deserve.

It reported a net loss of $111.3 million for the 13 weeks ending in August in its second quarter report. Pressures on retail operations under COVID-19, as well as changing customer behavior as a result of technical advancements, are discussed in the following forward-looking statement.

In June of this year, the company named Matt Furlong, a former top Amazon executive, as CEO. Furlong has yet to make any significant announcements about his reorganization intentions.

There will be additional NFT marketplaces in the future.

Nonetheless, the Loopring NFT leak validated what many had long assumed was a wise decision by GameStop.

While the leak is an unsubstantiated rumor, GameStop Due Diligence says the company doesn’t do “splashy public reveals” and will likely unveil the project after it’s finished.

“Until the offering is finished, GameStop is unlikely to make any big public announcements concerning GameStop NFT.”

Furthermore, GameStop advertised eight remote opportunities at the start of this week. Three of them are about NFT marketing, three more are about NFT software developers, and the last two are about Web3 gaming.

Web3 gaming suggests that virtual gaming will be developed, maybe in a metaverse context and bridging with NFTs. The job description mentions creating things from the ground up and mentions Ethereum experience.

“Have you created things from the ground up? Have you ever started a new business and expanded it to billions of dollars in revenue? Have you tried your hand at the new Web3 world? Are you a die-hard gamer? If that’s the case, you’re welcome to join us.”

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Posted in: GameFi, NFTs, USA

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