GameStop announces non-custodial wallet to store cryptocurrencies and NFTs

GameStop has launched a beta version of a crypto wallet that will facilitate gamers to buy and sell their crypto-assets and NFTs without having to leave the game. This comes after a Wall Street Journal report claimed that the company is hiring a 20 person division to establish partnerships.

A crypto wallet is where users can store their digital assets, this includes crypto coins and NFTs. What makes GameStop’s wallet different from other wallets like MetaMask is that it is a non-custodial wallet, which means you own your private keys— the crypto equivalent of a password. This wallet is exclusively designed for gamers only.

Gamers will be able to download the GameStop wallet and add its extension to their browser. So while playing any ‘Play-to-earn’ games they would be able to make transactions directly from their wallet, without having to leave their computer screen.

In a tweet, the company stated: “This is a beta launch. Please use responsibly, and do not add more funds than you are comfortable with.”

The wallet extension is currently available through the Chrome Web Store. However, the company said it will soon add support for iPhone devices as well. It will be interesting to see how GameStop’s wallet will be content with big wallet companies like MetaMask and Trust.

According to the company, users will be able to activate the Layer 2 exchange protocol, which means less gas fee(transaction fee to use the wallet) and faster transaction times. Currently, users will be able to make payments in Ethereum only.

It should be noted that the wallet company says that it may use user data as well as track the user’s IP address. This could be a big drawback of the GameStop wallet, especially in the Web3 space which promises to offer anonymity to users.

The privacy policy states: “how you interact with others using our Services, pages or screens you viewed, how long you spent on a page or screen, browsing history, navigation paths between pages or screens, information about your activity on a page or screen, access times, online status, last seen status, and duration of access, and whether you have opened our marketing emails or clicked links within them.”

Meanwhile, NFT and crypto integration into video games is a controversial topic among gamers. Several gamers believe that it is an unnecessary way to introduce monetisation into video games. Ubisoft and Square Enix faced major backlash after introducing NFTs to their classic games. In fact, Ubisoft had to shut down its planned NFT integration into Ghost Recon Breakpoint. However, others see it as a good way of monetisation and providing ownership of digital assets.

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