GameStop Joins Hands With Telos For Web3 Expansion

GameStop Joins Hands With Telos For Web3 Expansion

On June 1, GameStop said that it is partnering with The Telos Foundation aiming to expand its Web3 gaming landscape. Telos is the firm responsible for the development of the Telos blockchain.

The new partnership integrates Web3 games operating on Telos’ decentralized blockchain infrastructure with GameStop’s imminent Playr game launchpad. The strategic alliance seems to set the stage for some new vistas in mainstream gaming distribution.

Telos Foundation’s Role In Enhancing User Onboarding

Telos transforms the gaming environment, giving players an easy and readily available integration of incredible speed, enjoyable gaming experience, and reasonable control over digital assets in a secure and highly adaptable Web3 gaming network.

AJ Dinger leads business development at the Telos Foundation. He said in an official statement that the partnership will encourage fresh users to come into the Web3 gaming platform through Telos’ solid network.

Dinger said:

“We believe this collaboration will be a meaningful driver of new users into the Web3 space. By combining GameStop Playr with Web3 games utilizing Telos’ high-performance blockchain infrastructure, we can break down many of the barriers currently deterring Web2 players from embracing Web3.”

This announcement instantly impacted the market, with Telos’ native token, TLOS, recording a 10% spike before it ultimately leveled off.

GameStop Move To Digital And Web3 Gaming

GameStop has continuously moved its focus from traditional physical stores to a more digitally-powered strategy, mainly on Web3 gaming. In February 2022, it announced a partnership with the Immutable X blockchain to develop an NFT marketplace to support trading in-game assets.

This marketplace ran in public beta format since July 2022 and was officially made available to the public last October. Moreover, GameStop introduced its self-custodial crypto and NFT wallet in May 2022.

As GameStop moves from its traditional brick-and-mortar roots to the trendy world of Web3 gaming, it is clear that the firm is strongly adopting the future of gaming. This partnership with The Telos Foundation is another clear sign that the firm is committed to offering innovative gaming experiences.