{"id":227035,"date":"2022-03-24T13:00:48","date_gmt":"2022-03-24T13:00:48","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=227035"},"modified":"2022-03-24T14:29:06","modified_gmt":"2022-03-24T14:29:06","slug":"loopring-lrc-surges-following-gamestops-nft-market-beta-launch","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/loopring-lrc-surges-following-gamestops-nft-market-beta-launch\/","title":{"rendered":"Loopring (LRC) surges following GameStop&#8217;s NFT market beta launch"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The price of LRC, the native token of Ethereum-based scalability solution Loopring, has jumped by up to 35% after the protocol officially <\/span><a href=\"https:\/\/medium.loopring.io\/gamestop-nft-marketplace-powered-by-loopring-l2-6cdb9289d937\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> its integration and the launch of GameStop\u2019s non-fungible token (NFT) marketplace beta yesterday.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The future of <a href=\"https:\/\/twitter.com\/hashtag\/NFTs?src=hash&ref_src=twsrc%5Etfw\">#NFTs<\/a> are here + they&#39;re powered by <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&ref_src=twsrc%5Etfw\">#Ethereum<\/a>&#39;s second layer\ud83d\udc99<\/p>\n<p>Loopring L2 x <a href=\"https:\/\/twitter.com\/GameStop?ref_src=twsrc%5Etfw\">@GameStop<\/a> <\/p>\n<p>Power to the players.<br \/>Power to the creators<br \/>Power to the collectors.<a href=\"https:\/\/twitter.com\/hashtag\/L222?src=hash&ref_src=twsrc%5Etfw\">#L222<\/a>\ud83c\udf00<a href=\"https:\/\/t.co\/0gdvKLivfp\">https:\/\/t.co\/0gdvKLivfp<\/a><\/p>\n<p>&mdash; Loopring\ud83d\udc99\ud83c\udff4\u200d\u2620\ufe0f (@loopringorg) <a href=\"https:\/\/twitter.com\/loopringorg\/status\/1506548697689063429?ref_src=twsrc%5Etfw\">March 23, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe new [GameStop] Marketplace built atop Loopring L2 ensures that users receive the strongest digital property rights anchored by a secure, decentralized, and credibly neutral environment like Ethereum,\u201d wrote Adam Browman, Loopring\u2019s head of growth.<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\"> \u201cLoopring zkRollup inherits Ethereum\u2019s self-custodial security while abstracting away costly gas-fees, leaving no one priced out.\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Shortly after the announcement was made, the price of LRC surged from roughly $0.85 to just over $1.2, according to crypto metrics platform <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/loopring\/\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<figure id=\"attachment_227036\" aria-describedby=\"caption-attachment-227036\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-227036\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/Loopring.jpg\" alt=\"The price of LRC surged following the announcement. Image: CoinMarketCap\" width=\"640\" height=\"380\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/Loopring.jpg 948w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/Loopring-300x178.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/Loopring-768x455.jpg 768w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><figcaption id=\"caption-attachment-227036\" class=\"wp-caption-text\">The price of LRC surged following the announcement. Image: CoinMarketCap<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">At press time, the token\u2019s price cooled off a bit, falling back to about $1.10\u2014still significantly higher than yesterday\u2019s levels.<\/span><\/p>\n<h2>Making NFTs more accessible<\/h2>\n<p><span style=\"font-weight: 400;\">According to Loopring\u2019s announcement, its zero-knowledge rollup solution would allow \u201ccreators to deliver high performance applications that rival the speeds and scalability of Web2, while also empowering users to receive provable ownership and control over their assets in Web3.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Notably, Ethereum\u2019s second-layer rollup solutions allow to take the load off the mainnet by batching multiple transactions together and processing them off-chain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThese massive speed improvements and lower costs open up the design space for NFTs and gaming that were recently unimaginable,\u201d Browman added.<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\"> \u201cYou can now mint NFTs directly on Loopring L2 for fractions of the costs of minting on L1 (less than $1) while inheriting Ethereum L1 security.\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">As <\/span><i><span style=\"font-weight: 400;\">CryptoSlate<\/span><\/i><span style=\"font-weight: 400;\"> reported, video game and electronics retail network GameStop has previously teamed up with Immutable X, a Layer-2 NFT solution on Ethereum, to launch a new <\/span><a href=\"https:\/\/cryptoslate.com\/the-case-against-gamestops-100-million-nft-marketplace\/\"><span style=\"font-weight: 400;\">$100 million NFT marketplace<\/span><\/a><span style=\"font-weight: 400;\">. Notably, rumors of this happening first started flying around in October 2021 as users <\/span><a href=\"https:\/\/cryptoslate.com\/rumors-are-gamestop-has-bigger-plans-than-just-an-nft-marketplace\/\"><span style=\"font-weight: 400;\">discovered some amended code<\/span><\/a><span style=\"font-weight: 400;\"> in a Loopring Github commit.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of LRC, the native token of Ethereum-based scalability solution Loopring, has jumped by up to 35% after the protocol officially announced its integration and the launch of GameStop\u2019s non-fungible token (NFT) marketplace beta yesterday. The future of #NFTs are here + they&#39;re powered by #Ethereum&#39;s second layer\ud83d\udc99 Loopring L2 x @GameStop Power to [&hellip;]<\/p>\n","protected":false},"author":472,"featured_media":227043,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76232,5789,15323],"tags":[60923],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Loopring (LRC) surges following GameStop&#039;s NFT market beta launch<\/title>\n<meta name=\"description\" content=\"The integration should allow users to mint NFTs for less than $1 while inheriting Ethereum&#039;s security.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/loopring-lrc-surges-following-gamestops-nft-market-beta-launch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Loopring (LRC) surges following GameStop&#039;s NFT market beta launch\" \/>\n<meta property=\"og:description\" content=\"The integration should allow users to mint NFTs for less than $1 while inheriting Ethereum&#039;s security.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/loopring-lrc-surges-following-gamestops-nft-market-beta-launch\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-24T13:00:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-24T14:29:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/loopring-gamestop-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Liam Frost\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Liam Frost\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/loopring-lrc-surges-following-gamestops-nft-market-beta-launch\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/loopring-lrc-surges-following-gamestops-nft-market-beta-launch\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#person\",\"name\":\"Liam Frost\",\"url\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"caption\":\"Liam Frost\"},\"jobTitle\":\"Reporter\",\"description\":\"Liam Frost is a freelance journalist and editor with over 15 years of experience working for various media outlets across the world. 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