Key Takeaways:
- Portal introduces PortalPay, supporting 5,000 digital assets for in-game payments and cash outs, enhancing blockchain gaming interoperability.
- PortalPay simplifies the onboarding process for blockchain gamers, reducing the need for multiple wallets and chains.
- PortalPay aims to be the “Stripe of crypto” for blockchain gaming, addressing regulatory and adoption challenges in the sector.
Portal has introduced PortalPay to enhance blockchain gaming interoperability, enabling users to pay for and cash out in-game assets with any of 5,000 supported digital assets.
This service aims to reduce entry barriers for blockchain game players, simplifying the traditionally complex process involving various wallets and chains.
Introducing Portal Pay.
— Portal (@Portalcoin) July 11, 2024
Groundbreaking infra making cross-chain payments effortless. Users pay in any tokens, merchants receive the tokens they want.
The first in a series of products uniting Web3. All fees from Pay will be used to buy $PORTAL.
👉 https://t.co/LAV6oyPpYx pic.twitter.com/EhvnVqUHlH
By providing an on-chain solution, PortalPay allows developers to focus on game creation rather than on-chain commerce, promoting user retention through streamlined Web3 onboarding.
Despite growth in the blockchain gaming sector, mainstream adoption remains limited; a OnePoll survey revealed that over half of respondents were unaware of Web3 gaming.
Portal introduces ‘PortalPay’ interoperability for blockchain gaming@Portal, a major blockchain gaming platform, has announced #PortalPay, a new service designed to make it easier for users to get started with blockchain video games. PortalPay provides interoperability to… pic.twitter.com/YfE6JWwFA6
— Undeads Media (@UDSMedia) July 12, 2024
Regulatory challenges further complicate the landscape, as seen with Shrapnel’s restrictions on U.S. players cashing out and Uzbekistan’s warnings against trading in-game currency.
PortalPay seeks to address these issues, positioning itself as the “Stripe of crypto” for blockchain gaming.
About The Author
Fleming Airunugba, a seasoned Web3 and crypto content expert, leverages his deep understanding of blockchain technology to bring the latest and most impactful news to the crypto community.
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