Improving fundamentals, steady growth within its ecosystem and GameStop’s plan to build its NFT marketplace on Loopring back $LRC’s recent 50% rally.
GameStop reports that it chose Loopring to host its NFT marketplace due to the network's ability to mint NFTs for a fraction of the cost required on Ethereum, with the average fee being less than $1.
Beta users can begin exploring the marketplace now and deposit funds in preparation for the platform's full lauch which is expected to take place in the near future.A second factor putting wind in the sails of LRC has been the surge in new users in the Loopring ecosystem as evidenced by the record-high number of wallets joining the netw.from Dune Analytics, the wallet count of the Loopring network has increased from 6,498 on Oct.
The recent release of the Loopring Smart Wallet, which includes the ability to mint NFTs and retrieve a lost account via social recovery and Guardians, has also helped in the process of onboarding new users and wallets in the ecosystem.A third factor helping to boost the outlook of LRC is the overall growth of its ecosystem which includes a NFT community that has already seen more than 1 million NFTs minted.
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