The NFT market is growing in popularity, but it’s not just for gamers anymore.
A new partnership between blockchain-based web store OpenSea and leading gaming company Gamestop is aiming to revitalize the non-fungible resources (NFT) market.
OpenSea, a blockchain-based web store that allows users to choose NFTs, has announced a new partnership with Gamestop. The two companies are working together to create an ecosystem that will allow gamers to use the Ethereum blockchain technology in order to trade their digital assets.
According to OpenSea co-founder Alex Kruger: “Gamers have been asking us for this functionality for years now.”
Gamestop is one of the biggest video game retailers in the world. They have over 6,000 stores and employ more than 18,000 people worldwide. The company also has a loyalty program with more than 120 million active members across North America, Europe and Australia.
According to a press release issued on May 12, the collective effort is designed to leverage Gamestop’s global gaming presence to expand the use of NFTs in the market, with OpenSea offering a collection of NFTs from popular games such as Axis Infinity, Gods Unchained and CryptoKitties.
The initiative will also create an open-source platform for developers and publishers who wish to incorporate NFTs into their own games. The company says it has already partnered with several developers and publishers that include FirstBlood (a decentralized eSports platform), G2A (a marketplace for game keys), Blizzard Entertainment (makers of World of Warcraft) and Valve Corporation (makers of Dota 2).
As the world’s largest videogame retailer, we are well positioned to bring exciting NFT experiences from OpenSea to our vast customer base, said Chris Petrovic, chief commerce officer at GameStop.
We will be the exclusive retailer of all NFTs that can be purchased via GameStop’s in-game currency system and are excited to partner with such a dynamic company like OpenSea.
We are thrilled to be working with GameStop on this exciting project. They have been a leader in the gaming industry for years and it is great to see them embracing blockchain technology and cryptocurrencies.
The partnership between OpenSea and GameStop will bring an exciting new way to purchase NFTs to millions of gamers worldwide. We are excited about the opportunity to work with such a dynamic company like GameStop and look forward to seeing what the future holds for both companies.
We are thrilled to be working with GameStop on this exciting project. They have been a leader in the gaming industry for years and it is great to see them embracing blockchain technology and cryptocurrencies. The partnership between OpenSea and GameStop will bring an exciting new way to purchase NFTs to millions of gamers worldwide. We are excited about the opportunity to work with such a dynamic company like GameStop and look forward to seeing what the future holds for both companies
The move comes amid a downturn for the NFT space after a period in which several high-profile celebrities and public figures offered their own versions of NFT assets, including Jack Dorsey – who sold his first tweet as an NFT for $2.9 million – and musician Grimes who saw some of her digital artwork sell for millions of dollars.
The move comes amid a downturn for the NFT space after a period in which several high-profile celebrities and public figures offered their own versions of NFT assets, including Jack Dorsey and musician Grimes who saw some of her digital artwork sell for millions of dollars.
OpenSea’s founder and CEO Nick Mudge said that this is because most people are still unsure about what they can do with them: “The key is to provide users with more information about what makes an asset unique,” he said. “We want to show people how items are made so they can make better decisions about whether or not they should purchase them.”
OpenSea is not the only NFT platform that allows users to create their own assets. Etheremon and CryptoKitties, which have both raised funds through initial coin offerings (ICOs), are two other examples of platforms that allow users to create their own NFTs. As Mudge acknowledged in his statement, there has been some criticism that these platforms haven’t yet provided a clear use case for people outside of gaming applications or as collectibles.
In recent weeks Bitcoinist has reported on several similar initiatives in which mainstream companies such as Burger King and KFC have also entered into similar partnerships with NFT platforms (and also collectors) as part of efforts to keep the technology in the eye of mainstream investors.
The latest example is a new agreement between OpenSea and Mcdonald’s, which will see its “McCoin” token introduced as an option at all participating McDonald’s restaurants worldwide. The token can be used to purchase food or drinks, though it will not be redeemable for cash.
The move is a step toward making cryptocurrencies more accessible to the masses. It’s also a major win for NFTs, which have been gaining popularity with blockchain users over the past year or so. NFTs are digital assets that can be used in games and other experiences that live on a blockchain network, like CryptoKitties and CryptoCelebritiesHe’s right. The market for NFTs is still growing, and it will continue to do so over the next few years. In fact, the number of NFTs on the Ethereum blockchain has grown by more than 800 percent since January 2018, according to data from DappRadarOpenSea, which also has partnerships with other major brands including Disney and Nike, said that the McCoin offering was “the first step in bringing NFTs to mainstream adoption”. The firm added that there were plans to expand the offering into other areas such as entertainment and gaming.
The frenzy over non-fungible tokens (NFTs) may have died down a bit, but it’s not going away.
“The frenzy over non-fungible tokens (NFTs) may have died down a bit,” OpenSea CEO Jeremy Gardner told me during our interview at Consensus 2019 in New York City earlier this month. “But it’s not going away.”
The company is also working on a platform that will allow users to trade the items they’ve earned in-game for real money. This will be similar to how trading works on OpenSea’s current platform, but it’ll also give players the option to trade their NFTs for other types of digital assets- A social network where users can connect with others and share their favorite NFTs. – A browser extension that allows people to see what items are available on the marketplace without having to go through the website.
While the NFT category made some headlines recently with the huge sale of an NFT-based digital artwork, that’s just the surface of what’s happening in the world of digital collectibles.
While the NFT category made some headlines recently with the huge sale of an NFT-based digital artwork, that’s just the surface of what’s happening in the world of digital collectibles. There are many more uses for these assets than just trading.
You can use them to prove ownership over precious items (like you might do with physical coins), or you could use them to create a unique experience for your friends or family members—like when I bought one of my friends a game that he enjoyed playing.
As part of the deal, McDonald’s will also distribute McCoin to customers who purchase or redeem food and drinks via the chain’s app. The company says it will provide more information on how this will work in the coming weeks.
OpenSea has emerged as one of the most active players in the NFT market, and its success has inspired other marketplaces to enter the space, including Rare Bits and Foundation.
Users can create their own digital tokens on OpenSea, which they can then trade with other people who are also using OpenSea. The company’s goal is “to make it easy for anyone to launch a game or app without having any technical knowledge or coding skills,” according to its website.
OpenSea has a number of different features, including: – A marketplace where users can see digital items using Ethereum smart contracts. – An SDK that developers can use to create their own NFTs.
Although OpenSea got its start in virtual trading cards, the platform plans to expand into other categories that are attracting mainstream attention.
OpenSea, a cryptocurrency trading platform that allows users to trade NFTs on the blockchain, recently announced plans to offer more than just virtual trading cards.
The company currently offers three different types of games: Pokemon-inspired card games where players collect and battle with their favorite characters; fantasy sports leagues where they can bet on real-life events like fantasy football or basketball; and first-person shooters (FPS). It’s currently focusing on these three areas because they’re attracting a lot of attention from mainstream media outlets such as Forbes, Bloomberg Businessweek and CNBC.
OpenSea also plans on expanding into other categories that fit any type of gamer’s interests: board games like Monopoly or Risk; computer games like Minecraft or World of Warcraft (WoW); console titles like Call Of Duty; Tetris clones…the list goes on!
We’ve seen an uptick in the number of creators who want to use our platform as well as developers who want to launch their own projects using blockchain technology. With the right idea, they can make millions off their creations if they have enough users who want them.
NFTs have already proven to be a strong fit for gaming companies given their focus on collecting and digital inventory items, so it would make sense for more of these projects to come out of this space, particularly when you consider how much activity is happening within gaming communities on social platforms like Discord.
There are a lot of people who don’t understand how NFTs work, and we’re working hard to educate them. We’ve seen an uptick in the number of creators who want to use our platform as well as developers who want to launch their own projects using blockchain technology. With the right idea, they can make millions off their creations if they have enough users who want them. In the meantime, there are a growing number of NFTs being released each week by both game developers and artists. The vast majority are digital art or gaming assets such as skins, player avatars and character models. However, there is also a growing ecosystem of non-gaming NFTs that offer unique opportunities for brands to interact with their customers in new ways.
When you think about all of this activity, it becomes clear that there is a massive opportunity in front of creators and businesses to take advantage of NFTs in new ways.
We’re also seeing more developers looking at the potential for blockchain technology when it comes to creating their own assets and selling them on OpenSea. With the right idea, they can make millions off their creations if they have enough users who want them. We’ve seen some examples where developers have used our platform as an opportunity to launch their own projects by setting up shop with us or using us as an asset marketplace for monetizing their existing games without having to build out their own marketplace infrastructure themselves (which would be expensive).
NFTs are more than just collectibles. They’re also a way to represent digital assets such as loyalty points and rewards. The industry is still in its infancy, but it’s growing rapidly.
And, if you’re already a fan of gaming and blockchain technology then OpenSea is the perfect place for you. They currently have more than 25,000 items on their platform, with thousands more being added every day. There are also other ways that OpenSea is helping to improve the industry:
This opens up entirely new avenues for monetization and rethinking engagement models in ways that will have lasting effects far beyond just the gaming industry.
OpenSea believes that NFTs are a powerful way to unlock new monetization opportunities, and they’ve been thinking about it for some time. In fact, the company has been developing its own open-source platform for managing and tracking NFTs since 2016.
OpenSea is making waves in the gaming world because of this platform—it’s one of the first to offer full support for different types of assets (such as collectible cards or virtual items) on a single marketplace platform. But it’s not just about gaming: OpenSea also plans on bringing their technology into other industries like art or fashion by allowing people who own certain types of assets to sell them directly on their website without having to go through an exchange like eBay or Amazon Marketplace first. For example, if you have an original piece of artwork created by someone else but want it off your hands so you can keep going on with your life instead of just waiting around until someone decides whether they want it back after seeing them at some point in time down the road… well then there’s nothing stopping us from selling that piece right now!
Gaming is being used by major brands for marketing reasons.
The gaming industry is a big one, and there’s no doubt that it has its own share of problems. But there are some new faces in town who are trying to change things up with blockchain technology.
OpenSea CEO George Li said: “Gaming is being used by major brands for marketing reasons.”
This is an exciting time for us because we’re seeing the potential for blockchain technology to become more accessible and valuable than ever before. We’re excited to see what happens next”But there’s a lack of transparency in the industry, and there’s no way to track ownership or providence of items. The blockchain is perfect for solving this problem.
Conclusion
We’re excited about this partnership for a number of reasons. First, it’s great to see gaming companies getting involved with NFTs in new ways. Second, we think this is a good example of how companies are trying to adapt their business models to keep up with the times—and we’re seeing some interesting attempts at doing so here! Thirdly (and most importantly), it could help bring more attention to the tech industry as well as its benefits over traditional systems. We hope that there are more collaborations like this in the future.