Friday, June 2, 2023

Lighting Payment Fuels BTC Adoption


Wen you hear the phrase “payments in mobile gaming,” you immediately picture in-game procedures that allow you to spend $4.99 for a more powerful character.

Think about the $14.99 monthly subscription fee you’re paying for that chess software. Since you’re going to get really good at chess in the next month or two.

A Bitcoin Lightning Network (Lightning) can play a part in the growing trend of microtransactions in video games. A single satoshi, 1/100,000,000th of a Bitcoin can be exchanged for as little as $0.0004 in the game’s commerce layer. Making modest in-game payments simple and inexpensive.

That’s tedious, however. It also falls short of Bitcoin’s full potential.

Using the Lightning Network to monetize mobile games in the opposite manner. Allowing players to earn money for their skill, is less tedious.

Entrepreneurs in the Bitcoin gaming industry feel that this can further and encourage the usage of Bitcoin. Some people think that mobile games can be a good method to introduce people to Bitcoin.

Playing by Bitcoin

Des Dickerson, CEO and co-founder of THNDR, is a firm believer in this. As part of the Lightning Network. THNDR is developing mobile games that allow players to earn Bitcoins by playing. Each day, players who have played these mobile games for the previous 24 hours can earn modest bitcoin incentives. However, this is based on their gaming performance.

Essentially, gamers will earn Bitcoin. In which they can withdraw to a Bitcoin wallet that utilizes the Lightning Network. Fees are quite cheap on Lightning.

According to Dickerson, the objective of the organization is to use their games as a way to expose newcomers to Bitcoin. She said during the Bitcoin Miami conference in April. I think mobile gaming will help us bring in the newest bitcoin users,” she stated.

There’s a good deal of truth behind it. Given that mobile games are so popular. As an example, consider Mobile Legends: Bang Bang. Over a billion people have downloaded it. Even though you may not have heard of it. Halo, meanwhile, has only sold 81 million copies globally.

This is in part due to the ease with which it can be done. Gaming consoles and PC setups that cost a lot of money in countries. With a low disposable income don’t make much sense. On their smartphones, citizens instead play video games.

Taking a look at Mobile Legends. Players from Malaysia, the Philippines, Indonesia, Thailand and Singapore make up the bulk of the game’s audience.

A closer look at some of these countries reveals that the profile matches up very well with the goals of THNDR and other companies. In countries like the Philippines (9.6%), Vietnam (6.3%), and Myanmar. Personal remittances account for a significant portion of the national gross domestic product.. El Salvador’s decision to make Bitcoin legal tender was based in part on the idea that it may reduce the cost of international remittances.

A MOBA such as Mobile Legends, on the other hand, is beyond THNDR’s current capabilities to monetize. But it has taken on the hyper-casual and casual gaming genres. Dickerson gushed in the same interview about the company’s latest release, “Satsss – Bitcoin Snake,” an homage to the first mobile game ever.

There is no shortage of evidence to imply that mobile gaming is popular and will remain so in the future. Because of its sheer magnitude, Bitcoin-enabled mobile games have a chance to play a key part in onboarding the next billion bitcoin users as they continue to penetrate the market.

Miguel Garcia
Miguel Garcia
Miguel Garcia is a writer for Cryptoconstellation. Miguel has always been fascinated with Crypto. He has experience in Business and finance. Miguel loves sport cars and football.

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