blockchainreporter.net
In a significant move that underscores the growing embrace of cryptocurrency in the gaming world, Roblox, the immensely popular online gaming platform boasting over 214 million monthly active users, has integrated XRP as a payment method. This development was announced today by BitPay, a prominent cryptocurrency payment processing service, on their official BitPay on X (formerly Twitter) account.
Roblox’s decision to accept XRP is a strategic step aimed at expanding the options for in-game payments. The company responsible for handling in-game payments in Roblox, which is based in Los Angeles and known as Xsolla, has now integrated XRP as a payment choice. BitPay, a trusted partner in the cryptocurrency payment space, will be responsible for facilitating a seamless connection between Roblox users and their crypto wallets.
News Alert đź“°@Xsolla now accepts XRP(@Ripple) with BitPay as a payment method for their games, such as @Smitegame and @Roblox. You can use your favorite cryptocurrency to buy, play, and enjoy gaming like never before.#BitPay #crypto #Smite #Xsolla #Roblox pic.twitter.com/NAg2EyOVGM
— BitPay (@BitPay) October 17, 2023
Paving the Way for Crypto Adoption
Roblox has gained immense popularity over the years, with 66.1 million daily active users enjoying the platform’s diverse games and virtual experiences. A remarkable 43.96% of these users are under the age of 13, highlighting the platform’s appeal to a broad demographic. In the first quarter of 2023, Roblox users spent a staggering $773.8 million on in-game purchases, further emphasizing the platform’s financial significance.
Xsolla, the company behind the integration of XRP, has been actively pushing the boundaries of crypto adoption within the gaming industry. In August 2022, Xsolla formed strategic partnerships with the automated crypto management platform Coinchange Financials Inc. and the live-streaming social Web3 platform TradeZing, with the aim of developing a non-fungible tokens (NFTs) payment solution. This venture was part of a broader effort to explore new revenue streams and innovative solutions for the gaming ecosystem.
Further underlining their commitment to the crypto sphere, in August 2023, Xsolla joined forces with Crypto.com, a well-known cryptocurrency exchange and payment platform. This collaboration resulted in the integration of Crypto.com’s checkout solution into Xsolla’s Pay Station platform, making it easier for gamers to make payments with cryptocurrencies.
The partnership between Xsolla and BitPay dates back to 2014 when the service began accepting Bitcoin (BTC) payments. This early adoption of cryptocurrency paved the way for further innovations, ultimately leading to the integration of XRP as a payment method on Roblox. In September 2023, BitPay and Xsolla introduced PayPal USD (PYUSD) payments, further expanding the payment options available to merchants and consumers.
The integration of Ripple (XRP) on Roblox marks a significant milestone in the gaming industry’s journey toward greater cryptocurrency adoption. By embracing cryptocurrencies like XRP, Roblox is poised to offer its users a more diverse and secure payment experience, while also demonstrating the industry’s commitment to evolving with the times. As the gaming world continues to explore the potential of cryptocurrencies, it is evident that partnerships like this will play a vital role in shaping the future of in-game transactions.