In the not to distant future GameStop (GME) could become a powerhouse in Web 3 Metaverse commerce. According to Reddit investors, it is becoming apparent that GameStop could utilize the Loopring protocol, an Ethereum layer 2 solution built for trading and payments aiming to lower Ethereum’s gas fees significantly using zero knowledge proof.
In October, according to GMEdd.com, source code was leaked that proves GameStop is working on an NFT marketplace utilizing the Loopring protocol.
On Friday, GMEdd.com published clues that Loopring has the technology that GameStop would require to bridge traditional e-commerce and blockchain and engineer the revolution of gaming.
The following Monday, GMEdd discovered and shared GameStop’s latest NFT job listings, which detailed interest in Web3.0, Blockchain Gaming, and even an NFT marketplace.
Since then, Loopring has been hard at work to prepare for the team’s anticipated Q4 2023 launch, and has pushed new code to its GitHub repository labeled “NFT feature”.GMEdd.com
Could GameStop play a role in the Web 3 Metaverse or resetting the stock market?
It may be obvious to some that GameStop will play a vital role if they get the NFT marketplace up and running. However, no one knows for sure what they will be utilizing the NFT platform for. Many may assume that they will use the NFT marketplace for gaming, hence GameStop. But what if it’s something more than that.
With the Metaverse making headlines, it’s becoming a highly profitable economy on it’s own, digital items within the metaverse such as The Sandbox and Decentraland are already selling for millions, even Grayscale calls this new industry a $1 trillion opportunity and GameStop could be at the forefront of this new industry once they launch and expand the NFT platform.
With that aside, here’s another theory: they could be attempting the resetting of the entire stock market, starting with themselves due to the rampant cheating by Wall Street/hedge funds/etc. They have laid the legal groundwork both now and in the past (look into Overstock’s transition that was overseen by the same people) for moving their securities to a new platform entirely, and once the switch is flipped, they’ll re-issue the float as fractionalized/tokenized shares on Ethereum, using a Loopring-based solution as the new DTC (the current mechanism that facilitates stock ownership exchange).
This move completely cuts out the middle man (brokers) and provides an immutability that prevents the creation of false synthetic shares that currently allows big players to exploit the rules and short sell shares that don’t actually exist.