Boost Your Gaming Studio's Revenue and Security with Fiat-to-Cryptocurrency Payment Gateways

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Web 3 applications and games are built on blockchain technology and decentralized networks, and they often utilize cryptocurrencies as their native currencies. As such, incorporating a crypto-on-ramp service into these applications can offer several benefits for businesses, including:

NFTs in web3 applications priced using cryptocurrencies (SOL)

Increased Revenue

By allowing users to easily purchase cryptocurrencies using fiat currency, blockchain games and applications can increase their revenue by providing a more convenient and accessible way for users to access their products or services. For example, users may be more likely to purchase in-game items or crypto if they can do so with their preferred payment method.

Global Reach

Crypto-on-ramp services allow businesses to reach users worldwide, regardless of their location or payment method. This can help businesses expand their customer base and gain a competitive advantage over others that do not offer this service. For instance, users in countries with strict capital controls or limited access to traditional banking services may find it easier to purchase cryptocurrencies using a crypto-on-ramp service.

Reduced Transaction Fees

Crypto-on-ramp services typically offer lower transaction fees compared to traditional payment methods, which can help businesses save money on transaction costs and improve their bottom line. This is because cryptocurrencies are processed on decentralized blockchain networks, which eliminate the need for intermediaries and reduce transaction costs.

Increased Security

Cryptocurrency transactions are secure and can't be reversed or charged back, which reduces the risk of fraud or disputes. Additionally, crypto-on-ramp services accompany with wallet service to securely store and encrypt the digital asset in trasaction.

To illustrate the benefits of crypto-on-ramp for web 3 applications and games, consider the following examples:

Use Cases

Axie Infinity

Axie Infinity is a popular blockchain-based game that allows users to collect and battle creatures called Axies. The game utilizes the Ronin blockchain and requires users to purchase Axies using the native cryptocurrency ($SLP) . To make it easier for users to purchase SLP, Axie Infinity has integrated with several crypto-on-ramp services, including MoonPay and Transak. This has helped increase the game's user base and revenue, as users can easily purchase SLPs using fiat currencies and participate in the game.

Metamask

MetaMask, an app and browser extension, is a popular Web3 wallet that allows users to store Ether (ETH), ERC-20 tokens, and NFTs, as well as interact with decentralized applications. Created by ConsenSys, MetaMask has brought over 30 million active users to the decentralized web, with the majority of these users active on the Ethereum blockchain. MetaMask's success can be attributed not only to its superior product but also to the rise in adoption of Ethereum-based dapps and NFTs.

MetaMask has partnered with companies like Wyre to provide onramping services for end-users to buy crypto because, as a decentralized software, connecting MetaMask users to traditional payment methods such as banks, credit/debit cards, and other financial systems used to be a challenge. These partnerships allow users to easily connect their MetaMask wallets to traditional payment methods and buy cryptocurrencies.

Conclusion

In conclusion, incorporating a crypto-on-ramp service into web 3 applications and games can offer several benefits for businesses, including increased revenue, global reach, reduced transaction fees, and increased security. By offering a convenient and accessible way for users to purchase cryptocurrencies, businesses can improve their users' experience and gain a competitive advantage in the market.