Immutable Integrates Transak as Sole Payment Service Provider to Boost Web3 Gaming Transactions
Summary:
Web3 gaming company Immutable is integrating Transak as its sole payment service provider for the Immutable zero-knowledge Ethereum Virtual Machine. This will facilitate direct fiat and Web3-based payments within gaming environments. Transak's services will be embedded into Immutable's transactional platforms, powering digital asset transactions for games scheduled to launch in 2024. Transak, already used by over 350 applications, accepts over 20 payment methods across 160 countries with custom pricing for its collaboration with Immutable.
In a recent development, Immutable, a leading player in the Web3 gaming space, has decided to make Transak its only payment processing service for its zkEVM, an Ethereum Virtual Machine employing zero-knowledge proof. The integration is designed for immediate execution of digital and fiat transactions within the gaming space.
Transak's services will be embedded into Immutable Passport and Immutable Checkout. Immutable Checkout is a comprehensive transaction infrastructure for games, specifically designed to provide game makers with an adaptable interface for integrating diverse payment methods. Transak's services, including its on-ramp and off-ramp payment solution and its NFT payment service, enable transactions through Apple Pay, Google Pay, and credit/debit cards.
As stated by Harshit Gangwar, the Head of Marketing at Transak, the payment infrastructure is set to regulate in-game purchases of digital assets. He noted that the integrated service will be used by hundreds of high-quality games in the coming years, with many set to launch in 2024.
Immutable's Product Marketing Head, Michael Powell, verified that the primary integration of Transak will be incorporated into their popular Web3 games such as Guild of Guardians, Gods Unchained, and Cross The Ages.
Notably, Transak's success as a payment infrastructure provider is established, being employed by over 350 applications, counting prominent Web3 wallet solutions like MetaMask, Coinbase Wallet, Trust Wallet, Ledger, PancakeSwap, LBank, Bitcoin.com, and Bake (CakeDefi).
Having also demonstrated its effectiveness in the Web3 gaming industry, Transak's payment service is already in use across many games sponsored by Web3 gaming venture capital firm Animoca Brands. Users from games such as Decentraland, MotoGP Ignite, Revv Racing, FormulaE High Voltage, Splinterlands, and more use Transak's services.
Over 20 payment options are available for buying cryptocurrencies and NFTs in over 160 countries via Transak, according to Gangwar. Charges vary depending on payment method and country combinations, with fees ranging from 0.49% to 3.49%. However, the agreement between Transak and Immutable also provides for custom pricing, which is expected to be lower than the typical rates.
Emphasizing the importance of the Web3 gaming sector, Yat Siu, co-founder of Animoca, recently underlined the firm's investment in The Open Network blockchain and its integration into Telegram, which could drive the adoption of Web3 gaming. Telegram, with its user base of over 800 million, could provide access to blockchain-enhanced, Web3-enabled games.
Published At
12/11/2023 5:00:00 PM
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