Immutable is incorporating Transak functionalities into its zkEVM (zero-knowledge Ethereum Virtual Machine) setup, revolutionizing in-game payment methods for both cryptocurrency and fiat transactions.
Integration of Transak into Immutable Gaming Environment
Transak emerges as the exclusive payment service provider for Immutable’s zkEVM, directly facilitating fiat and Web3-based transactions within gaming ecosystems. Moreover, the former acts as a comprehensive transaction infrastructure for games, offering game developers a customizable interface for integrating diverse payment options seamlessly.
Furthermore, Transak’s suite of services encompasses on-ramp, off-ramp, and nonfungible token (NFT) payments, enabling fiat transactions via credit/debit cards, Apple Pay, and Google Pay within gaming environments.
Harshit Gangwar, Transak’s marketing head, foresees its payment rail powering in-game transactions for digital assets across numerous high-quality games slated to launch, with the majority scheduled for release in 2024.
Transak’s Credibility and Integration Landscape
Transak’s credibility as a payment infrastructure provider is underscored by its adoption across 350 applications, including esteemed Web3 wallet solutions like MetaMask, Ledger, Trust Wallet, Coinbase Wallet, and more.
In addition, the platform has a proven track record in Web3 gaming, actively utilized in titles supported by Animoca Brands, a significant Web3 gaming venture capital firm.
Payment Reach and Pricing Structure
Transak users across 160 countries have access to payment for cryptocurrencies and NFTs through over 20 payment methods. Moreover, transaction fees vary based on payment methods and country combinations, ranging from 0.49% to 3.49%. However, Transak’s custom pricing agreement with Immutable assures lower rates than its default structure.
Furthermore, investment firms like Animoca Brands emphasize the Web3 gaming sector with Transak’s integration into numerous gaming titles backed by Animoca Brands, such as Decentraland, Splinterlands, and Revv Racing.
Yat Siu, Animoca Brands’ Co-founder, highlights the potential mass adoption of Web3 gaming facilitated by The Open Network blockchain’s integration into Telegram, reaching over 800 million users. This integration could also be a significant driver for Web3 gaming expansion.