GameStop Has a Crypto Wallet — Here’s How To Set It Up

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Amid an increasingly crowded field, GameStop launched a beta version of its digital asset wallet, which allows gamers and others to store, send, receive and use cryptocurrencies and NFTs. The move follows Robinhood, which did something similar last week.

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GameStop, which has achieved a somewhat cult-like status among investors by becoming a meme stock, has been trying to diversify its core business over the past few months.

The company said that the wallet is a self-custodial Ethereum wallet, and the wallet extension, which can be downloaded from the Chrome Web Store, will also enable transactions on GameStop’s NFT marketplace, which is expected to launch in the second quarter of the company’s fiscal year, according to a press release.

The company explained that a browser extension wallet is an add-on for your web browser that adds a cryptocurrency wallet to the browser’s menu bar.

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“Installing a browser extension wallet allows you to store and trade cryptocurrencies and NFTs directly in decentralized apps like the upcoming GameStop NFT Marketplace, without ever having to leave your web browser window,” GameStop said.

After installation, you open the the extension tray — the puzzle icon next to the address bar — and “pin” the new GameStop Wallet icon that appears by clicking the pin icon it added. Then, click Create Wallet and follow the on-screen steps from there.

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GameStop is also about to launch its NFT marketplace, which is “almost here,” according to its dedicated website. In February, the company announced it had entered into a partnership with Immutable X.

The partnership establishes an up to $100 million fund in Immutable X’s IMX tokens, which it intends to use for grants to NFT creators, according to a press release.

Immutable X will also become a layer-2 partner and platform for GameStop and its NFT marketplace, which is expected to launch later this year.

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The company added that creators from gaming studios, Web3 and metaverse gaming developers and elsewhere can request to be a content creator on GameStop’s NFT marketplace by visiting nft.gamestop.com.

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About the Author

Yaël Bizouati-Kennedy is a full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She also worked as a vice president/senior content writer for major NYC-based financial companies, including New York Life and MSCI. Yaël is now freelancing and most recently, she co-authored  the book “Blockchain for Medical Research: Accelerating Trust in Healthcare,” with Dr. Sean Manion. (CRC Press, April 2020) She holds two master’s degrees, including one in Journalism from New York University and one in Russian Studies from Université Toulouse-Jean Jaurès, France.

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