GameStop’s new Ethereum-based NFT marketplace is available in a little over 48 hours beta. We haven’t provided NFT for games yet. Planned core offerings on the market..
Still, the new platform for video game retailers has already seen nearly twice the record high volume of Coinbase’s NFT marketplace, which has been open since May.
GameStop NFT has had at least 3,167 ETH of trading volume since its launch on Monday, according to data published on the Marketplace website. This figure is worth about $ 3.5 million and represents the trading volume of the top 50 collections on the market. This is the only publicly available data. So, GameStop’s total market volume is probably higher.
In contrast, Matte launchCoinbase’s NFT Marketplace generated a total of 1,704 ETH in trading volume, or about $ 1.8 million. Dune analysis..
Of course, the initial performance of GameStop NFT is inferior to the performance of major NFT marketplaces like OpenSea. Trading volume of $ 16 million on Wednesday alone..
But the fact that video game retailers have rapidly surpassed record highs for $ 12 billion Web3 natives like Coinbase in NFT Space isn’t important.
GameStop shares (GME) have risen 10% since launching the market on Monday, closing at $ 141.28 on Wednesday. (Inventory of the infamous meme is still down 26% in the last 12 months.)
NFTs are blockchain-based tokens that show ownership of digital or physical assets, and GameStop’s NFTs are on the Ethereum blockchain. The company pays a 2.25% commission on NFT sales. Ars Technica Note, GameStop’s actual revenue so far is small.
GameStop NFT currently offers only artwork NFTs, but plans to launch a series of game NFTs that can be used as interactive items in video games. February, GameStop Launched $ 100 Million Token Incentive Fund Support the development of NFT-compatible video games and products with the Ethereum Layer 2 Scaling Solution ImmutableX. The marketplace website is “coming soon” with the game NFT on Immutable X, and is currently teasing 13 NFT-compatible games that can be purchased on the platform.
Meanwhile, Coinbase’s NFT Marketplace has since been struggling to attract businesses. Acquire 150 active users on the first day..On the platform We’ve added a lot of new features to the site since its launchBut they were largely unable to attract a significant customer base.
For example, Coinbase NFT in the time since GameStop NFT was released on Monday. Processed $ 31,000 in sales: It’s less than 1% of GameStop NFT’s business.
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