Mythical Games – a next-generation studio at the intersection of blockchain and games – has announced the addition of crypto payments to the Mythical Marketplace.
Crypto payments will be powered by Uphold, the digital money platform providing consumers and businesses with single-wallet access to a host of digital and physical assets.
The Uphold integration allows players of the popular multiplayer party game Blankos Block Party to use an array of supported cryptocurrencies in their Uphold wallet to purchase in-game items.
These items include avatars and accessories created by artists and designers that have partnered with Mythical.
In most games, bought or earned items are locked into the publisher’s economy, and when you no longer want them or find they’ve become sought after, there’s no way to recoup your time and/or money spent.
Through the proprietary Mythical Marketplace, players can now unlock the monetary value of digital asset ownership by selling their in-game collections to other players for fiat or cryptocurrency in safe and secure transactions, with proof of authenticity.
The money received from sales is automatically transferred to the user’s Uphold wallet and can be cashed out in the preferred currency, traded for other cryptocurrencies, or sent to other holders.
Stoyan Stoyanov, VP of Marketplace at Mythical Games, explained that “supporting crypto payments is the final piece of the puzzle for all early players and users who have been waiting for the ability to integrate their crypto wallets with our Marketplace.
“During our early testing phases, players could only buy and sell on the Marketplace for fiat currency, so the addition of Uphold opens the gates to more opportunities for gamers, whether they’re embracing cryptocurrency already or are new to the space,” he said.
Empowering payments in new digital economy
By linking with Uphold, which recently joined several blockchain programs, Blankos Block Party can also expand into the 150-plus countries where Uphold operates. Today, the digital money platform serves more than seven million customers and holds around $3.7 billion in customer assets.
Uphold CEO JP Thieriot explained that “connecting with Uphold quite literally changes the game for Blankos Block Party players”.
“The ability to buy and sell collectibles in their cryptocurrency of choice will substantially lower the barrier to purchasing and selling in-game items,” he said.
“We’re excited to support the evolution of Blankos Block Party and grow our presence in the gaming community as we continue our mission of powering payments in the new digital economy.”
The announcement follows Mythical’s $75 million Series B funding round led by Westcap earlier this year, with additional contributions from new and existing investors, including 01 Advisors and Gary Vaynerchuk’s VaynerFund.
The veterans behind Mythical helped develop major franchises, such as Call of Duty, World of Warcraft, Guitar Hero. With their debut in decentralised gaming.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.