Loopring GameStop Prices to the Moon with LRC Crypto

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LRC is soaring on news that GameStop's NFT market is live on the Loopring network


GameStop's NFT Marketplace is now broadcasting on the Loopring, according to LRC.


Just over a year after its inception, meme stocks have come full circle. GameStop (NYSE:GME), which pioneered the new wave of retail investing, has progressed from a faltering video-game store propped up by determined investors to the debut of its recovery campaign's main product. And, although the announcement is boosting GME share prices, it is also boosting Loopring (LRC-USD) prices. The LRC cryptocurrency is soaring today as a result of the company's game-changing statement.


Since GME stock skyrocketed from $18 to more than $300 in early 2021, the firm has been adamant about shifting to a new model. It made waves when it hired Ryan Cohen, co-founder of Chewy (NYSE:CHWY), to lead the charge. For months, rumors swirled about what the business would do to regain broader investor trust, shifting from meme stock to growth play once more.


One of the most widely circulated rumors, and the first to be confirmed, said that GameStop would enter the burgeoning non-fungible token (NFT) market. With these rumors, Loopring rose to the forefront of the crypto business, with sleuths speculating that it would supply the underlying infrastructure for a GameStop NFT marketplace.


The Loopring network, which is based on Ethereum (ETH-USD), is a layer-2 scaling technology designed to enable users streamline transactions on the Ethereum chain. According to rumors, GameStop might use Loopring to develop on Ethereum without sacrificing transaction speed owing to Ethereum's limited scaling.


Loopring  has risen by 42 % as a result of its partnership with Gamestop .


The GameStop NFT marketplace based on Loopring L2 is currently operational, according to Loopring (LRC), a decentralized exchange (DEX). This will, however, be the Beta version, as the full marketplace will be available soon. The price of the LRC token has risen by 42 percent in response to the announcement.


LRC Crypto Flies High With GameStop Partnership Underway


As 2021 became 2022, GameStop announced its intention to launch an NFT marketplace. However, along with this wonderful announcement came some bad news for the LRC cryptocurrency; GameStop named Immutable X (IMX-USD) as its development partner. The news originally shook LRC pricing, however the business did state that it will also be collaborating with Loopring after Immutable X provided the platform's infrastructure.


And today, the Loopring partnership is finalized. Today, GameStop is launching the beta edition of its NFT marketplace on Loopring's layer-2. Loopring's head of growth, Adam Browman, announced the beta's launch this morning in a blog post. Browman discusses the early access launch, informing investors that they would be able to participate.


LRC crypto prices are rising in the midst of this news. As the story spreads, the token is increasing by 33%. Investors are also pouring money into LRC trades, with trading volume reaching $1.9 billion. This volume has increased by about 500% in the previous 24 hours alone.


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