3 - 4 minute read
Within the African gaming market, gamers can now send and receive small amounts of Bitcoin while playing classic titles like Counter-Strike. This is thanks to a new partnership between fintech and payments processor Zebedee and crypto exchange platform Bitnob. The partnership offers payments and gaming reward options in Africa using the Bitcoin Lightning Network.
Zebedee’s offering serves as a second layer in games that allows developers to replace vague in-game points rewards with satoshis, the smallest denomination of Bitcoin. Through the partnership with Bitnob, these in turn can be converted to a local currency like the Nigerian naira. The move aims to drive higher engagement among African gamers and meet the high demand for Bitcoin-powered gaming platforms across the continent.
According to Zebedee chief strategy officer Ben Cousens, the partnership was driven by game developers who had Bitcoin in mind for tournaments and other gaming rewards. Cousens explained that if you have 30 million players of your games in Africa, running tournaments or giveaways and have to pay those players on fiat rails is too expensive. The partnership aims to tap into the $180 billion video games market, not play-and-earn or crypto gaming.
Cousens notes that African gamers tend to have higher purchasing power of Bitcoin than markets like the U.S. and Europe. In general, Africa has been a growing area of interest for the Lightning Network, partly due to the LN’s ability to facilitate microtransactions. Bitcoin Senegal founder Nourou reaffirms this, stating that microtransactions are the economic reality of the region.
The partnership between Zebedee and Bitnob will allow gamers in Africa to earn Bitcoin through Zebedee-powered apps and games. By using the Bitcoin Lightning Network, developers can replace in-game point rewards with satoshis, which can be converted to local currencies like the Nigerian naira. This move is likely to drive higher engagement among African gamers and meet the high demand for Bitcoin-powered gaming platforms across the continent.
The partnership offers opportunities for traders to invest in the Bitcoin gaming space in Africa. The growing trend of the LN and gaming during the bear market is a natural evolution of the interactive entertainment landscape. The use of ‘Rewarded Play’ provides meaningful performance uplift for developers against a backdrop of slowing growth in mobile gaming revenue.
The Bottom Line
As Zebedee and Bitnob partner to bring Bitcoin gaming to Africa, traders can expect higher demand for Bitcoin-powered gaming platforms across the continent. By utilizing the Bitcoin Lightning Network, gamers can earn Bitcoin through Zebedee-powered apps and games, and developers can offer rewarded play options. Overall, this partnership offers a new opportunity for traders to invest in the Bitcoin gaming space in Africa.