A Blockchain game powered by a division of WarnerMedia is working with BitPay to integrate cryptocurrency payments into the user experience. Company executives believe it will help the blockchain based game expand its user base, and also offer crypto support in geographic regions where the use of credit cards is not practical.
Blockchain Game – Digital Golf On Ethereum
According to a recent press release, Blocklete Games will be accepting cryptocurrency payments with the support of BitPay. Blocklete Games is developing cutting-edge sports games on the blockchain. Turner Sports, a division of WarnerMedia is the group behind the blockchain gaming infrastructure. It is important to note that Turner Sports has many well established partnerships with the NBA, MLB, and NCAA, due to operating digital media outlets like NCAA.com, NBA.com, PGATour.com, PGA.com, Bleacher Report, and others.
Blocklete Games will be accepting cryptocurrency payments for Blocklete Golf, which is the world’s first digital golf game on the blockchain. By leveraging the Ethereum Network, players around the world can buy and sell digital golfers. They can also participate in tournaments and win actual money.
With Turner Sports working alongside BitPay, Blocklete Golf users will have the ability to make payments with some of the largest cryptocurrencies like Bitcoin, Ethereum, XRP, and Bitcoin Cash. In addition, the game will support popular dollar-pegged stablecoins such as USDC, GUSD, PAX, and BUSD.
Yang Adija, the Vice President of Business Operations and Strategy commented that:
“Our service leverages the blockchain such that anyone can play personalized sports games with their friends, with the potential to own the value created by the effort they put into their Blocklete digital athlete within the game. BitPay helps broaden the reach of that opportunity, making it accessible to even more players by enabling them to use cryptocurrencies as a payment method.”
Value In Cryptocurrency Payments
The support for digital assets gives Turner Sports a bigger market to capitalize on. On a global scale, a high percentage of individuals have smart phones, but it is believed that 1.7 billion people were unbanked in 2018. COVID19 is fundamentally changing the economy, which creates even more difficulties for the unbanked population.
Blocklete Games can cater to these markets and create an experience where credit cards are no longer mandatory. Additionally, the use of cryptocurrency can eliminate fraud chargebacks that are typically seen in traditional finance.
On the business side, Turner Sports can reduce their fees by relying less on credit card transactions. Opposed to high credit card fees for transactions and settlement, BitPay handles all of this on the backend, and only charges a 1% fee to handle the cryptocurrency transaction. In terms of volatility risk, Blocklete Games receives the settlement in US Dollars in just one day. Blocklete Games / Turner Sports are never engaged in volatility risk. This is a risk that BitPay takes to service their clients.
More On Blocklete Golf
In order to get involved in the digital golf game powered on blockchain, a user only has to follow a few simple steps:
- Step one involves picking a “Blocklete” crypto golfer. A user can test out various golfers to see which one has the most valuable skills. Once a decision has been made, a user can purchase a golfer with cryptocurrency or a credit card. The golfer a user purchases is now considered their very own digital asset that they own.
- Step two involves leveling up your golfer. This is achieved by playing in live challenges.
- Step three involves tournament exposure. In tournaments, a user can play against friends and other digital golfers to hopefully win $20,000 in prizes during the first season. It is important to note that season 1 is live now and will end in the first week of December.
- A user can eventually list their digital golfer on the marketplace and potentially sell it for cash.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice.