GameStop NFTs Comes Out Better Than Coinbase Platform -

GameStop NFT Marketplace Stopping For No One

Gaming giant GameStop launched its NFT marketplace on Monday. Noteworthily, it has performed so well that it surpassed the Coinbase NFT platform in trade volume. The day ended with top 50 digital collectibles going for more than $3.5 Million. The organization generated $67,500 in revenue at a royalty rate of 2.25% per trade.This is not something groundbreaking, but sure it broke Coinbase’s volume threshold.

It is noteworthy that GameStop’s NFT platform came amid the crypto winter. Almost all the digital assets and coins are suffering from this turbulence. Several clients of the organization rejected NFTs, with attempts by Square Enix and Prince of Persia publisher Ubisoft. They wanted to blend in the concept of NFT and crypto into the games.

Coinbase NFT channel was revealed on 20th April. And as per the data offered by Dune Analytics, it has witnessed about $3 Million in their trade volume. Currently, MetaBoy is the best NFT persisting on the GameStop marketplace, featuring pixelated Game Boy art. This collection has bagged $1 Million in sales solely.

The recent cryptocurrency market turbulence is becoming a tornado where it is affecting the other sectors including the NFT industry. The biggest marketplace in the sector took a huge blow where it plunged to $696 Million from $2.5 Billion back in June. With the current scenario of the crypto market, it will be a task for newcomers like GameStop to challenge OpenSea.

The marketplace is based on the Ethereum blockchain, and doesn’t support any other blockchain. As of now, GameStop is relying on its persisting user base (which of course have proved their loyalty). They need to add the blue-chip collections like CryptoPunk, BAYC, MAYC etc. to lure more investors.

Apart from this, the platform will extend to cover the aspects of Web3 gaming. For the ones who don’t know, Web3 gaming allows the players to use crypto and NFTs in game.

Anurag S

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.