Game company, Nexon, has put some smiles on the faces of Dogecoin users, as the gaming giant announced the support for the meme coin and other coins. The American subsidiary collaborated with BitPay to integrate crypto payment for in-game items purchases.
BitPay’s partnership with Nexon America will see the popular crypto payment service provider handle the crypto payments and improve crypto services. The C.E.O. Stephen Pair revealed that the collaboration would enhance gameplay and players’ experience.
Nexon Also Added Support For SHIB
Earlier this December, Nexon, through BitPay, added support for fellow meme coin aka Dogecoin killer Shiba Inu. However, the meme coin wasn’t mentioned as amongst the digital assets accepted by the famous gaming company in its press release.
Nexon has been previously involved with crypto investments before its current move. In April, the gaming company purchased $100M worth of BTC at roughly $58k. The $100M crypto investment was the most prominent for a Tokyo-listed company.
When asked if the investment influenced the decision to add more cryptos, the executive Kenny Chang said that integrating crypto payments had nothing to do with the parent company’s BTC investment. Presently, the flagship currency is struggling to go above the support level amid market correction. Bitcoin is priced at $49k, spiking nearly 3% after the Fed disclosed that interest rates would remain unchanged.
Gaming Industry and Growing Crypto Adoption
The last two years have seen the crypto industry grow massively. With NFTs now in the limelight, prominent players in the gaming industry have jumped at the opportunity to integrate it alongside cryptocurrency.
Gaming giants such as Electronic Arts and Ubisoft are leveraging NFT to meet the growing demands of users. Earlier this December, Ubisoft made a solid push for NFT, but it was met with heavy criticism. C.E.O. of EA Andrew Wilson once predicted that P2E games would dominate the gaming world, given the rapid growth of blockchain gaming.
The pandemic was partly responsible for the rise of P2E games, as people spent more time at home. Also, the quest to earn passive income prompted several people to join blockchain gaming.
While several companies are making NFT moves, the likes of Steam dislike it. In October, it prohibited NFTs and P2E games. After being criticized, discord, a popular chatting platform, was coerced to drop and not add support for Ethereum.
Dogecoin has been making the headlines for positive reasons. Recently, Dogecoin enthusiast and Times Man of the Year Elon Musk announced that the meme coin would be accepted by his E.V. company Tesla. The news came after the world’s richest man revealed that DOGE was more convenient for payments than BTC, even though the latter was a preferred store of value.
Dogecoin also made it to the top ten of most valuable crypto, overtaking Terra Luna, previously ranked 10th. DOGE witnessed a 48% price surge after Elon Musk announced Dogecoin acceptance for some Tesla products.