Loopring’s public GitHub repository has leaked code confirming GameStop’s highly speculated partnership with the Ethereum Layer 2 scaling protocol.
On Friday, GMEdd.com published clues that Loopring has the technology that GameStop would require to bridge traditional e-commerce and blockchain and engineer the revolution of gaming.
The following Monday, GMEdd discovered and shared GameStop’s latest NFT job listings, which detailed interest in Web3.0, Blockchain Gaming, and even an NFT marketplace.
Since then, Loopring has been hard at work to prepare for the team’s anticipated Q4 2021 launch, and has pushed new code to its GitHub repository labeled “NFT feature”.
Git happens
GitHub is a popular platform amongst developers that is typically used for version control. It is helpful when more than just one person is working on a project.
While Loopring made progress towards their NFT Marketplace launch, updates were pushed to a public GitHub repository.
On Tuesday, code was committed to the Loopring GitHub repository by Loopring developer W. Tang.
Loopring’s ‘NFT feature’ code reveals several references to GameStop
The amended code in the branch “NFT-DEV” under the GitHub commit titled ‘NFT feature‘ makes reference to “gameStopMeta” and an IPFS URL.
IPFS is a distributed system for storing and accessing files, websites, applications, and data. IPFS was noted to be used by GameStop previously during their first NFT project reveal.
GameStop uses IPFS to store and share data.
The IPFS URL resolves to a directory with 7 .json files that contain “Hello World” placeholder code in various graphic styles.
Hello World is a common sample text designed to familiarize users with most programming languages.
GameStop has used several stock “Hello World,” images as placeholder NFTs, within an NFT collection titled ‘Styles of Programming’.
Hello, GameStop NFT!
The names of each style 1 through 7 are: C Style, Console Style, Green Bold Style, Old Game Style, Classic Style, Declarative Style and Javascript Style.
Power to the creators
Also found within the JSON files are references to “creatorRoyaltyBips,” with a value of “500”.
Bips, otherwise known as basis points, are a unit of measure used in finance to describe the percentage change in the value of financial instruments.
One basis point is equivalent to 0.01% (1/100th of a percent) or 0.0001 in decimal form.
A fractional basis point such as the 500 bips referenced in the code is equivalent to 5%.
GameStop’s IPFS details ‘creatorRoyaltyBips’
These findings suggest GameStop’s NFT marketplace will allow for resale of digital assets, including the ability to pay royalties to the original creator on future transactions.
This aligns with the slogan revealed on NFT.GameStop.com from May.
Power to the players.
Power to the creators.
Power to the collectors.
EIP-1155: Putting the Fun in Fungible
The code posted on GitHib reveals that GameStop NFT is built on EIP-1155 which allows the creation of Fungible, Non-Fungible, and Semi-Fungible in one single token standard.
ERC-1155 is a unique token that supports non-fungible (NFTs) and fungible tokens. It’s faster and more efficient than prior iterations.
This allows flexibility to create unique “non-fungible” items, such as rare collectibles, artwork, in-game items and “fungible” items such as in-game currency, points or cosmetic items that can be owned by many people.
The second NFTType reference is to EIP-712, a secure method of signing a transaction on Ethereum.
Stealth Projects Started at Chewy
While at Chewy, Ryan Cohen led the stealth “Project Bear,” committed to disrupting the $9B pet pharma industry. Despite Cohen’s departure 3 months earlier, Chewy did not roll out or even announce the initiative until it was completely ready for launch.
Chewy launched Chewy Pharmacy in July of 2018.
It is likely that GameStop will not make any splashy public reveals about GameStop NFT until the offering is finalized, following the same playbook as Chewy.
Fortunately, CHWYdd.com was unavailable at the time to break Project Bear news before release.
The full application of GameStop’s NFT Marketplace and the kinds of assets that will be offered for trading remains unclear.
Loopring has disclosed a launch date “at some point in Q4 2021,” and the partnership appears keen on disrupting the $150B gaming industry.
As GMEdd.com curated this piece, Loopring’s loopring-web-v2 public repository and IPFS links were taken down, leading our sources to point to archived versions.
Toast, vestro, and Jenna researched and contributed. Toast edited and contributed.
Sources: Loopring on GitHub, nft.gstop-sandbox.com, Winda Tang on GitHub, 1.json, 2.json, 3.json, 4.json, 5.json, 6.json, 7.json, Winda Tang on GitHub, Loopring Github Archive, nft.gstop-sandbox.com, Pet Product News
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Fake Name says:
You know… sometimes DD can be detrimental to a company. GameStop is trying to disrupt and rebrand itself in a highly competitive market…
Furthermore, we already know that they are working on an NFT, so looking for trade secrets and blueprints to expose undermines the companies goals, and gives competitors an edge. You may want to consider that in the future.
Nunya says:
If it’s available to us it’s available to the competition. Better to expose it so they can fix it.
Fake Name says:
Even it’s available, they’ve just connected all the dots and published it a day later… Easy work for competitors, right?
Again, just saying they may want to use some tact.
another fake says:
If that were sincerely the reasoning, they would inform GameStop and not publish.
GameStop’s not incompetent, though; they wanted this to leak.
Nunya says:
If it’s available to us it’s available to the competition. Better to expose it so they can fix it.
Anonymous says:
YOU MEAN LIKE ELON MUSK ALLOWING EVERYONE TO SEE THEIR PATENTS SO THEY CAN TRY TO COPY IT? LOL KEEP TRYING
Mollylee says:
Dd can be anything you want it to be although you can come up with something better than that to write about.
anon says:
do you guys have any use for a guy who knows nothing but likes the stock and has a lot of time on his hands? i feel bad copying your homework all the time, if there is any type of assistance I can lend let me know. thanks
Anonymous says:
Send me some ℹ️
Jabarumba says:
Nobody finds it suspicious, or at least a simulation confirmation, that the developer who committed the code to Loopring was name W. Tang?
quakeryomama says:
suspicious indeed, this can be true or they are trying to capitalize the hype train.
GameStop says:
Bullish!
blux says:
Where is the @blux source reference (4:28pm on 10/28/2021)? #gamestopnft
chu says:
Ook ook indeeed
bobby says:
the repo is gone. looks like they removed it from public view.
SPNarwhal says:
Is the “gameStopMeta” a strong enough tie to GameStop, though? Couldn’t it just be code referring to game and command of StopMeta? (to Stop the game? Not sure what Meta refers to)
Odd that “game” is lowercased while the others are uppercase. I’d imagine if it were tied to GameStop it would be GameStopMeta or gamestopMeta, or something along those lines. Seems more to me that game is just referring to the use and stop would be some kind of command. Please correct me if I’m wrong, since I’d absolutely love to be wrong. Just my instinct when seeing it is all.