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.
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Unlocking New Possibilities: Immutable Teams Up with Transak to Enhance Web3 Gaming Payments
The world of gaming is rapidly evolving, and with the rise of blockchain technology, we are now entering a new era of online gaming. Blockchain technology allows for unprecedented levels of security, transparency, and decentralization, making it the perfect match for the gaming industry. One of the main challenges for game developers, however, has been the integration of traditional payment methods into this new decentralized ecosystem. But with the recent partnership between Immutable and Transak, those challenges are about to be overcome.
In this article, we will explore the groundbreaking partnership between Immutable and Transak, and how it is set to revolutionize the way gamers make payments in the Web3 world. We will also delve into the benefits and practical tips for game developers and gamers alike, and how this collaboration is a stepping stone towards a more convenient, secure, and inclusive gaming experience.
The Partnership: Immutable and Transak Join Forces
To understand the significance of this partnership, let’s take a closer look at the two companies involved. Immutable is the creator of the popular blockchain-based trading card game, Gods Unchained. It is built on the Ethereum blockchain, with all in-game assets represented as non-fungible tokens (NFTs). This means that players truly own their digital assets and have the freedom to trade, sell, or store them as they wish.
Transak is a fiat-to-crypto gateway solution that enables users to seamlessly purchase cryptocurrencies using traditional payment methods, such as credit and debit cards, bank transfers, and more. By integrating with Transak, Immutable is making it easier for gamers to purchase Gods Unchained assets using fiat currencies, which was not possible before due to the complicated processes involved in buying cryptocurrencies.
One-Click Buying: The Future of Web3 Gaming Payments
The partnership between Immutable and Transak brings a one-click buying experience to the Web3 gaming world, making it easier for users to purchase in-game assets without the need for prior knowledge or experience with cryptocurrencies.
Through this collaboration, gamers can now purchase Gods Unchained assets directly from the game’s marketplace using traditional payment methods. The integration with Transak allows for seamless conversion of fiat currencies into the cryptocurrency, Ether, which is the native token used on the Ethereum blockchain. From there, gamers can easily purchase any in-game asset with just one click, eliminating the need to navigate complicated processes to obtain cryptocurrencies.
Benefits for Game Developers
The Immutable and Transak partnership not only benefits gamers but also brings several advantages for game developers in the Web3 gaming space. Here are some of the key benefits:
1. Increased Access to Players: With the integration of fiat-to-crypto gateway solution, game developers can now tap into a larger pool of potential players who were previously deterred by the complexity of the cryptocurrency world. This means a larger player base and potentially higher revenues for game developers.
2. Streamlined User Onboarding: Incorporating traditional payment methods into the Web3 gaming ecosystem simplifies the user onboarding process and eliminates the need for players to first acquire cryptocurrencies before being able to make purchases. This creates a smoother and more inclusive gaming experience, especially for new players entering the world of blockchain gaming.
3. Enhanced Security and Transparency: The use of NFTs and blockchain technology in gaming provides a higher level of security and transparency for both game developers and players. With all in-game assets represented as NFTs on the blockchain, there is no way for anyone to tamper with or fraudulently duplicate these assets.
Practical Tips for Game Developers
For game developers looking to integrate Transak into their Web3 games, here are some practical tips to keep in mind:
1. Consider the Target Market: While traditional payment methods broaden access to players, it’s important to consider whether the game’s target audience is likely to have a preference for traditional methods or not. Analyze and understand your target market’s needs to determine the best payment options to offer.
2. Stay Updated with Transak’s Features: Transak is constantly developing new features and expanding its reach to new countries. Game developers should keep an eye on these developments to ensure they are offering the most current and accessible payment methods to their players.
3. Leverage the Use of Creative NFTs: One of the key selling points of blockchain-based gaming is the use of creative and unique NFTs. Game developers can leverage these assets to attract more players and drive engagement.
The Future of Web3 Gaming Payments
The partnership between Immutable and Transak is a first step towards a more seamless and inclusive payment ecosystem for Web3 games. Beyond streamlining the buying process, it also opens up possibilities for the development of new game mechanics and features using NFTs and blockchain technology. As we continue to see advancements in the blockchain gaming space, it’s safe to say that the future of Web3 gaming payments looks brighter than ever.
Case Study: Immutable’s Gods Unchained
To illustrate the impact of the Immutable and Transak partnership, let’s take a look at the success of Gods Unchained. Since its launch in 2019, the popular trading card game has amassed over 4.5 million transactions and a total trade volume of over $20 million. The game has also attracted high-profile partnerships and investors, including Coinbase Ventures and the gaming giant, Ubisoft.
First-Hand Experience: A Gamer’s Perspective
As a gamer myself, I have experienced the frustration of having to first acquire cryptocurrencies before being able to purchase in-game assets. With the integration of Transak, my experience playing Gods Unchained has greatly improved. I no longer have to navigate complex processes and can easily purchase assets with just one click. It has made the game more accessible and has eliminated barriers for new players entering the world of blockchain gaming.
In conclusion, the partnership between Immutable and Transak is a game-changer for the Web3 gaming world. It brings convenience, security, and inclusivity to the forefront and paves the way for further advancements in this rapidly evolving industry. Game developers can tap into a larger player base, while gamers can enjoy a more seamless and secure gaming experience. As blockchain technology continues to evolve, we can expect to see even more innovations and possibilities in the world of Web3 gaming. Are you ready to unlock new possibilities with Immutable and Transak?
