Immutable Studio Partners with Transak to Support In-Game Transactions
In an advanced communication, the best performing Web3 gaming studio Immutable revealed plans to integrate the Miami-based crypto payment service provider Transak on its zero-knowledge Ethereum Virtual Machine (zkEVM). The integration of the Transak network aims at boosting the gaming experiences by allowing the players to make payments using fiat currency and Web3-powered settlement.
At the initial agreement of the intergration of Web3-based payment services, the Immutable team agreed to upgrade some of the existing gaming features.
Immutable Teams Up with Transak to Support Web3 Payment Options
The announcement demonstrated that Immutable Checkout and the Immutable Passport will be powered by the Transak network. The proposed upgrade aims to enable some of the existing software to support the Immutable “all-in-one transaction” tools for gaming.
With the expected development the existing application will offer the game enthusiast a configurable interface that can easily be integrated with other payment options. According to the announcement, the ever-evolving nature of the gaming industry has compelled the Immutable team to provide the players with a suitable payment option.
A review of the Transak website demonstrated that the payment service provider has mainly focused on the on-ramp, off-ramp, and non-fungible token (NFT) payment options. The collaboration with Immutable Studio aims to provide the players with a flexible payment method that supports payment made through credit and debit cards.
Also, the report illustrated that the Immutable team will accept payments made through Apple Pay and Google Pay. Commenting on this developer the head of marketing at Transak Harshit Gangwar stated that the integration of the payment rail aims at supporting the in-game transaction for crypto assets.
Benefits of In-Game Transactions
Based on the changes in demand the executive envisages that in-game transactions will gain popularity in the gaming industry and will be the most effective payment solution for the games. Gangwar argued that by 2024 most gaming companies will introduce in-game transcations.
In support of Gangwar’s remarks the head of product development and marketing at Immutable, Michael Powell stated that the integration of Transak services will first be launched on its Web3 games including Guild of Guardians, Cross The Ages, and Unchained.
The executive recognized the commendable achievement of Transak in providing a cutting-edge payment solution. Powell stated that currently over 350 applications are supported by Transak. The executive noted that Transak services are used by leading payment providers and fintech companies such as MetaMask, LBank, Ledger, PancakeSwap, Bitcoin.com, and Coinbase Wallet.
Crypto Firms Seeks to Support Web3 Adoption
A statement from the chief technology officer at Transak Yeshu Agarwal argued that the collaboration with Immutable Game Studio aims to eliminate the barrier to entry in the in-game sector. Previously it was critical for players to have an in-depth knowledge of crypto to invest in digital assets.
The official argued that the collaboration with the Immutable team aims to provide the players with an exclusive experience to purchase gaming features. Yeshu anticipates that the collaboration with Immutable will redefine the digital payment ecosystem.
Besides the integration of Transak in the business and banks the executive noted that this payment option was on a silent embraced in the Web3 games. Powell admitted that fast-paced gaming companies such as Animoca Brands have joined forces with other Web3 gaming studios to introduce Transak-oriented payment options.
He argued that Transak payment services are used by Decentraland, Revv Racing, FormulaE High Voltage, Splinterland, and MotoGP among other companies. The increased adoption of Transak in the gaming world stems from the incredible services provided by gaming companies.
At the moment Transak supports over 20 payment options in around 160 countries. According to Gangwar the fees charged by Transak range from 0.49% to around 3.49%. Compared to other payment solutions the executive noted that Transak pricing depends on the payment method selected by the user.
The Transak platform supports over 170 crypto assets tied to around 75 blockchain networks. Apart from the integration of the advanced payment solution the gaming companies have teamed up to introduce products that support the adoption of Web3 games.
Recently the co-founder of Animoca Brands Yat Siu invested heavily in the development of The Open Network features to support the mass adoption of Web3 games.
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