Gamestop has announced the launch of its Web3 Ethereum wallet to provide users with a wallet to store crypto assets and NFTs. It employs Loopring’s layer two (L2) ZK-rollup technology to enable seamless and cheaper transactions.

The wallet will support the holding of crypto-assets while also enabling storage of in-game NFTs, and as a self-custodial wallet, users will always be in complete control of their assets.

The wallet summary released by the team reads thus:

“Harnessing the power of Loopring’s ZK-rollup [tech] — an Ethereum Layer 2 scaling protocol – Gamestop gives you low-cost and fast transactions, with Ethereum security, opportunity, and global reach.

This allows you to reduce gas fees and network congestion while always remaining in control of your funds.”

The Gamestop’s wallet will operate similarly to Metamask, with the desktop version of the Software, which can be an extension of the chrome browser. In addition, its privacy policy ensures the Software does not monitor users’ data. The only Data collected would be contact and profile information, display names, email address, profile biography, Ethereum public address details, and Twitter and Reddit usernames.

Meanwhile, this announcement comes ahead of the anticipated unveiling of an NFT Marketplace by Gamestop in July. On Feb 3, 2021, Gamestop entered a partnership with Immutable X and launched a $100 million NFT fund. Hence, the upcoming NFT marketplace will utilize Immutable X technology.

The Web3 wallet is currently in its beta form and can be downloaded via Gamestop’s web portal.