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Unlocking New Possibilities: Immutable Teams Up with Transak to Enhance Web3 Gaming Payments

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Web3 gaming firm Immutable is set to integrate Transak as the sole payment service provider for its Immutable zero-knowledge Ethereum Virtual Machine (zkEVM). The service is set to directly power fiat and Web3-based payments in gaming environments.

Transak’s service will be integrated into Immutable Checkout and Immutable Passport. The former acts as Immutable’s all-in-one transaction infrastructure for games and provides a configurable interface for game developers to integrate various payment options.

Transak’s on-ramp, off-ramp and nonfungible token (NFT) payment service allows fiat payments through credit and debit cards, as well as Apple Pay and Google Pay. Transak marketing head Harshit Gangwar told Cointelegraph that the payment rail will power in-game transactions for digital assets:

“These products will be used by hundreds of high-quality games over the next couple of years. The majority of those games are scheduled to go live in 2024.”

Immutable’s head of product marketing Michael Powell also confirmed that Transak’s initial integration will feature in its flagship Web3 games Guild of Guardians, Gods Unchained and Cross The Ages.

Transak has a proven track record as a payments infrastructure provider and is used by over 350 applications. This includes major Web3 wallet solutions like MetaMask, Ledger, Trust Wallet, Coinbase Wallet, LBank, Bitcoin.com, Bake (CakeDefi) and PancakeSwap.

Its payment service is also tried and tested in the Web3 gaming space and is actively used in many titles backed by Web3 gaming venture capital firm Animoca Brands.

Related: Animoca eyes SportFi ecosystem, becomes Chiliz Chain validator

Users from Decentraland, Splinterlands, Revv Racing, FormulaE High Voltage, MotoGP Ignite and other major Animoca titles use Transak’s solutions.

Gangwar notes that Transak users can pay for cryptocurrencies and NFTs with over 20 payment methods across 160 countries. Fees are dependent on payment methods and cross-country combinations.

“On a high-level, the pricing can be anywhere between 0.49% to as high as 3.49%,” Gangwar said.

Transak’s agreement with Immutable features custom pricing, which is touted to be lower than its default pricing. The infrastructure allows payments for more than 170 cryptocurrencies across 75 blockchains.

As Cointelegraph recently reported, the Web3 gaming sector remains a focal point for investment firms like Animoca. Co-founder Yat Siu highlighted the company’s investment in The Open Network blockchain and its integration into Telegram as a potential mass driver for Web3 gaming adoption. The messaging application has over 800 million users that can access blockchain-powered, Web3-enabled games.

Magazine: Web3 Gamer: Games need bots? Illuvium CEO admits ‘it’s tough,’ 42X upside