Ethereum scaling solution network Loopring’s own token LRC, The altcoin project has experienced a great increase in price with the new news about the partnership with the video game retailer GameStop.
New Developments Happened in NFT Market Developed by GameStop on Loopring
At the time of this writing, it gained 36% in the last 24 hours. altcoin The price is trading at $1.12. With this rise, Loopring has a market value of at least 1 billion dollars. cryptocurrencies It became the most valuable altcoin among all.
“GameStop NFT has taken its first steps to serve its marketplace users and is built on Loopring!” the project’s head of growth, Adam Browman, wrote in a blog post. said.
Browman continued his words in his blog post:
“The new project appears to have the potential to be at the forefront of this new paradigm and a target for global digital economies.”
The post also said that users will be able to get early access to the project under development and deposit cryptocurrencies and NFTs, as well as create profiles with their usernames.
Loopring is described as a layer 2 Blockchain project that aims to make fast and low-cost transactions alongside the Ethereum network, which is a layer 1 Blockchain.
In his statement, Browman said that NFT can be minted directly on LRC with much lower costs than Ethereum, even at prices less than 1 dollar.
However, GameStop shares, which are volatile similar to cryptocurrencies, gained 10% on Wednesday to trade at $135 on the New York Stock Exchange.