GameStop is joining forces with The Telos Foundation, the entity responsible for the Telos blockchain, intending to broaden its Web3 gaming landscape.
This partnership binds Web3 games running on Telos’ decentralised blockchain framework to GameStop’s forthcoming Playr game launchpad. This strategic alliance sets the stage for new vistas in mainstream gaming distribution.
Telos Foundation’s Role in Boosting User Onboarding
Telos modifies the gaming environment, offering players an easy combination of enjoyable gaming, appreciable speed, and reasonable control over digital assets in a secure and adaptable Web3 gaming ecosystem.
AJ Dinger, who leads business development at the Telos Foundation, said in an official statement that this team-up is expected to encourage fresh users to the Web3 gaming platform via Telos’ solid network.
Dinger noted, “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.”
The announcement immediately affected the market, as Telos’ native token, TLOS, experienced a 10% surge before eventually levelling off.
GameStop’s Shift to Digital and Web3 Gaming
GameStop has progressively shifted its focus from traditional physical stores to a more digitally-driven strategy, particularly on Web3 gaming. Back in February 2022, it revealed a partnership with the Immutable X blockchain to create a NFT marketplace to facilitate trading in-game assets.
The marketplace, which had been running in public beta since July, was officially made available to the public in October 2022. Additionally, GameStop launched its self-custodial cryptocurrency and NFT wallet in May 2022.
As we see GameStop’s journey from its traditional brick-and-mortar roots to the vibrant world of Web3 gaming, it’s evident that the company is firmly embracing the future of gaming. The partnership with The Telos Foundation is yet another nod to the company’s commitment to providing innovative gaming experiences.