Blockchain
Main recreation retailer GameStop (NYSE: GME) is teaming up with The Telos Basis, the group behind the layer 1 blockchain Telos, to develop its Web3 gaming choices.
The deal will hyperlink Web3 video games using Telos’ decentralized blockchain infrastructure to GameStop’s upcoming Web3 recreation launchpad Playr, offering new alternatives for mainstream gaming distribution.
AJ Dinger, head of enterprise growth on the Telos Basis, mentioned in a press launch that the collaboration will assist onboard new customers to the Web3 gaming ecosystem utilizing Telos’ strong community.
“We consider this collaboration might be a significant driver of latest customers into the Web3 house,” mentioned Dinger. “By combining GameStop Playr with Web3 video games using Telos’ high-performance blockchain infrastructure, we are able to break down most of the boundaries at the moment deterring Web2 gamers from embracing Web3.”
Telos’ native token TLOS jumped 10% on the information earlier than receding.
GameStop has steadily been shifting away from its brick and mortar technique to concentrate on a digital enlargement that features Web3 gaming. In February 2022, it introduced a partnership with layer 1 blockchain Immutable X to construct a non-fungible token (NFT) market for buying and selling in-game belongings. {The marketplace}, which has been working as a public beta since July, formally launced to the general public in October 2022. The retailer additionally launched its self-custodial crypto and NFT pockets in Could 2022.
