Following the WSJ Exclusive that revealed to the public GameStop’s plans to expand into the NFT market, Barron’s has reported GameStop considered acquiring Loopring.
GMEdd.com first published source code from Loopring’s GitHub repository in October that confirmed the highly-speculated NFT Marketplace partnership amongst the ambitious pioneers was in development.
Prior to this, digital breadcrumbs had led us to that same point, detailing how Loopring has the technology that GameStop would require to bridge traditional e-commerce and blockchain and engineer the revolution of gaming.
the second layer
Connor Smith of Barron’s has corroborated The Wall Street Journal’s claims that GameStop is moving on blockchain partnerships, revealing that GameStop’s crypto plans have been in the works for months, the source told Barron’s, adding that the company has retained top crypto advisors to support its efforts.
When Barron’s questioned the source familiar with matters at GameStop about the Loopring speculation, the source stated that GameStop explored an acquisition of Loopring, but ultimately withdrew from talks amid logistical concerns related to Loopring’s operations in China.
Connor Smith’s tweet on January 6, 2022
Reddit users for months have speculated on whether GameStop had plans to launch something with decentralized financial company Loopring, which backs the LRC token. The person confirmed GameStop explored an acquisition, but said the retailer ultimately withdrew from talks amid logistical concerns related to Loopring’s operations in China.
Barron’s reports that a Loopring representative was not immediately available for comment, although GMEdd.com notes that back in November, Loopring CEO Daniel Wang stated he ‘could not comment on that’ anyway when asked by a reporter about the decentralized finance company’s rumored deal with GameStop.
GameStop withdrawing from acquiring Loopring Technology Limited does not prevent them from utilizing Loopring’s zkRollup Layer2 protocol to power their NFT Marketplace.
Source: Connor Smith at Barron’s