GameCredits is a name not often brought up when you think of altcoins. With a weekly increase of market capitalization of over 40 percent and trading volume approaching $1 million, shown below, it may be something worth taking a look at.
The sudden increase of attention towards the altcoin comes with the announcement of the use of GameCredits in the popular MMORPG Fragoria. Fragoria has over eight million users and will be introduced to the GameCredits payment gateway, starting December 7, that will be integrated into 1000’s of games starting Q1 of 2017, according to GameCredits.
GameCredits looks to solve the payment limitations gamers have to deal with when it comes to dealing with paying for digital content. Stagnant coin value, security weaknesses, as well as the lack of anonymity and the inability to transfer from game to game, is just a few.
The Vice President of Development at GameCredits Inc. and owner of Datcroft Games, Sergey Sholom said:
“Things are going to change for both gamers and developers when we launch GameCredits payment gateway. The problems that the gaming world face now all point to a solution using blockchain technology and GameCredits is that solution”.
Not only is it an issue for the consumers, but the developers as well. Current payment methods take weeks to process transactions, meaning a significant delay for funds to reach developers to support further in-game content development. Developers also have to worry about chargeback and frauds, as well as low deposit limits.
Not only will GameCredits gateway process payments within limits to solve the issue of waiting weeks for the money to reach the developer, but higher deposit limits will also entice players to spend more within a games ecosystem as well.
Fragoria in a blog post describing why they chose GameCredits as the in-game currency and not bitcoin, which is the cryptocurrency of choice for companies like Steam and G2A:
“We want to reward that commitment and hard work, and as we integrate and test GameCredits with our system and start seeing an increasing number of transactions from our 10-million-strong user base, we anticipate that the buying pressure this will place on GAME will translate into very healthy returns.”