GameStop NFT Marketplace is ahead of Coinbase in Sales Volume

After months of anticipation, GameStop eventually released its NFT marketplace this week. Mainly on the initial day alone, the platform had about 1.8 million dollars in sales. In difference, the Coinbase NFT marketplace another NFT platform projected this year did merely over $1 million in sales in 1 month.

Also read, Stepwise guide for creating your own NFT Marketplace

GameStop NFT marketplace

gamestop-nft-marketplace

On Monday, July 11, GameStop unleashed its long-awaited NFT marketplace. The platform will allow gamers, creators, and collectors to purchase, sell, and trade NFTs. This marketplace is noncustodial and created on the Ethereum Layer 2 chain. Primarily, the NFT platform allows users to fully retain their digital assets stored on the blockchain.

Further, users can also connect their wallets to the NFT marketplace. In fact, in May, GameStop launched a beta version of its ETH wallet. This wallet allows users to store, send and get both NFTs and crypto. The wallet is also self-custodial, suggesting, that customers can enter their assets with their private key.

As informed by on-chain analyst NFTherder, GameStop’s (at time of writing) sales volume is $1,887,360. Since their market fee is about 2.25%, the company has completed around $42,000 in transaction fees. As that is not a massive amount for a gaming retail giant such as GameStop, it’s substantial considering the current crypto market crash.

Coinbase also released its NFT marketplace back in May. it gained only 150 users on its initial open day. Also, there were just 150 transactions, amounting to around $75,000 worth of ETH.

Meanwhile, GameStop’s NFT marketplace performed particularly better, it remains to be seen how the marketplace will cope against a present giant such as OpenSea.


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