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GameStop's NFT Marketplace is live & powered by Loopring L2

 


Loopring (LRC) is an Ethereum layer 2 zkRollup protocol specifically designed as a means of powering decentralized cryptocurrency exchanges.


The LRC token is essentially this ERC-20 based token.


GameStop NFT Marketplace launch as a catalyst for growth

According to an official announcement from Loopring's Twitter page on March 23, 2022, Loopring L2 now powers GameStop's NFT Marketplace.


Loopring's Head of Growth, Adam Browman, said the partnership was formed to provide the masses with fast, affordable and secure access to digital property.


Additionally, he went on to explain how users are now being given the ability to mint NFTs directly on loop ring L2 for fractions of the costly gas fees incurred when minting on L1, which is approximately less than $1.


Beta users get access to the massive speed improvements and lower costs, and can start depositing before the full launch of the official marketplace.


Should You Buy Loop Ring (LRC)?

On March 24, 2022 Loopring (LRC) was valued at $1.09.




In order for us to see what a value point this is for the Loopring (LRC) token, we will look at its all-time high alongside its performance over the previous month.


Loopring (LRC) had its all-time high on November 10, 2021 with a value of $3.75.


Now that we know the current price point and the all-time high, let's go through February's performance.


If we look at the token's performance in the previous month, Loopring (LRC) had its highest value on February 7 when the token touched $1.21.


However, the bottom of the month was on February 24 when the token dropped to $0.64.


Here we see that from February 7th to February 24th, the LRC token lost $0.57 or 47% in value.


However, from February 24 to March 24, the value of the LRC token increased by $0.45, or 70%.


With all of this in mind, we can expect the LRC token to surge to a value of $1.5 by the end of March, making it a solid token to buy.

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