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When Fintech and Online Gaming Meet: How to Invest, Save, and Win Big

When Fintech and Online Gaming Meet: How to Invest, Save, and Win Big

June 25, 2021 By Michael Piggott

You can save money and play video games to your heart’s content.

Don’t believe us? 

We get it. You’re looking for the catch or the hidden cost of a win-win scenario.

But we can assure you that there are no sneaky costs will pop up and rob you of your hard-earned money.

Fintech makes it possible to get the best of both worlds, so keep on reading to learn all about money management games and how they came to be. 

Fintech Works for Gaming Economies

The truth of the matter is that the banking sector has been slow to evolve in our digitally-driven era. 

In the case of the gamers’ microtransactions, the traditional banks don’t have an inherent understanding of how the industry works.

So fintech companies have responded to the lack in the market by going to war against legacy bank networks.

Peer-to-peer payment providers like Venmo, PayPal and Square Cash came blazing onto the scene by providing faster services and undercutting the exorbitant fees that traditional brokerage firms asked of their customers.

Add to that amalgam of fintech companies the new presence of cryptocurrency.

This will get you a budding industry aiming to solve issues of trust, security, and convenience that are rampant in the traditional financial sector. 

Characteristics of Fintech 

This generation of emerging fintech startups can meet the unique needs of the gaming sector by having the following set of characteristics.

Security

With the majority of gaming either completely occurring online or at the least having an online element, security is key when it comes to protecting gamers’ information and financials.

It is now easier to achieve security through the integration of blockchain and encryption protocols.

Currency Management

With games having their own monetary terminology — and in some cases whole different monetary nature of their currency —, fintech comes in to manage all the currency conversions, banking, and credit.

Peer-To-Peer Transactions

Gaming transactions are known for their high volumes of micropayments. Fintech can support both characteristics with low-fee payment systems.

Cross-Platform Connections

The video game market is severely fragmented, so having a solid cross-platform payments system in place is a must.

Fintech can match the pace of the gaming industry. 

Investing with Style

The gaming industry pulled in a little below $109 billion in 2017, so it is — needless to say — ready for some solid investment strategies and platforms.

For gamers, they learned early on the value of saving by grinding for a long time to earn enough money to get the best gear or save some money over time to buy those powerful items.

By going through this approach, we get a customer base that understands the importance of saving by struggling earlier in the game and playing for the end-game with the better gear.

The same applies to regular daily life, and it’s about time that the two meet.

Ready to Play and Make Money?

Now that you have a solid understanding of the beauty that is fintech, you’re ready to learn more about micro investing through gaming!

So make sure to sign up here to learn more!

Filed Under: Financial, Gaming

Can You Really Get Paid to Play Video Games? Learn How!

Can You Really Get Paid to Play Video Games? Learn How!

November 19, 2020 By Michael Piggott

A decade ago if you were to quit your job for gaming, you’d be seen as insane. Now, gaming as a job is a viable and profitable route for many people! Plus, studies show that gaming actually has some decent health benefits.

The future is great, isn’t it?

Despite what your mom might have to say, you can get paid to play video games. Here are just a few ways to do it:

Get Paid to Play Video Games on YouTube

Ever heard of Pewdiepie? He’s the number one YouTuber right now and got to that position by playing video games. But he’s not the only one.

Thousands of YouTubers have earned millions playing video games. Jacksepticeye, Markiplier, and TheWillyrex are just a few names that boast over 10-million followers who tune in to watch them game. Sometimes they’ll review or criticize games, but often just upload footage of them playing and giving commentary.

YouTube gamers are paid through ads, just like any other YouTuber. Many of them also design merchandise and set up Patreon accounts.

There are a lot of gaming videos uploaded to YouTube each day, so it can be hard to stand out. But if you upload frequently, have a fun personality, and carve out a niche, you could be YouTube’s next big gamer.

Start Twitching

Twitch is another popular way to make money gaming. With Twitch, you stream yourself gaming live. It’s easy, it’s fun, and it can be very profitable.

Twitch streamers are paid through donations. These donations start at as little as $1.00, but viewers can donate however much they want. Popular Twitch streamer Sodapoppin was actually given a $57,000 donation once, the largest amount ever donated on Twitch.

It’s unlikely you’re going to get a donation that big, but you never know. Twitch streamers like Ninja have managed to start whole careers through Twitch. Ninja has now branched out into writing books, a comic series, and even has his own Fortnite skin.

If you’re gaming for long periods of time anyways, there’s no reason not to stream it. Who knows what might happen!

Get Professional

If you’re particularly skilled at a certain game, you may be able to play it professionally. Esports has taken off in the past decade, making tournaments a viable way to make a living. Although, not every game is an eSport.

Some of the most popular eSports games are Fortnite, Counter-Strike: GO, DOTA 2, and League of Legends. Tournaments for these games often boast prize pools of hundreds of thousands of dollars, if not millions. DOTA 2, for example, has a total estimated prize pool of over $220-million across 1,300 tournaments.

Esports players are constantly being offered sponsorships and expanding their opportunities through tournaments. They have the opportunity to tour the world gaming. Now that’s the dream.

Unlike making money off YouTube or Twitch gaming, though, pro gaming is all about your skill level. A YouTuber might find profit in gaming through their personality, even if they’re not the best at the games they’re playing. A pro gamer needs to dedicate days and weeks worth of time honing their skills at a single game.

It’s an exhausting lifestyle and a climb at that, but pro gaming is a great way to get paid to game. If you’re young and talented, it might be something worth looking into.

Review Games, Become a Gaming Journalist

Yes, gaming journalism is a thing. The gaming world is always expanding and changing, and more and more publications are now covering the gaming world. Even the biggest players like The New Yorker and the Washington Post employ gaming journalists now!

Like any other form of journalism, this can be a hard profession to break into. But if you’re someone who likes to stay up-to-date on the latest gaming releases, news, and controversies, you have a chance.

Try starting a blog or YouTube channel dedicated to gaming journalism. If gaming is your main hobby, you might have some interesting angles and opinions to share. There’s a wide audience for content like this, so it’s worth a shot.

Even independent gaming journalism can earn you money. Set up ads on your blog or YouTube channel and you’ll start making a little cash flow. If you keep at it, your avenues will only expand.

Start Testing Games

Every video game company needs game testers. These companies will sometimes hire testers to play unfinished products in search of bugs and general critiques. You may not gain any fame this way, but you’ll make some money doing it.

To get into game testing, keep your eyes open for job postings from game companies in your area. If you have an online persona and following as a gamer already, you could get paid to beta test games publicly.

Some companies will give gamers early access to their games so they can play them on their channel for their viewers. This increases the visibility of their product, and in turn, earns you some money. Of course, you need to have a decent following for this to be viable.

Sell Accounts

Account selling won’t make you a ton but is another way to make money gaming. If you play any MMO games like RuneScape or World of Warcraft, you know how important it is to have a high-level character. Some people are willing to spend hundreds, if not thousands of dollars for this luxury.

If you have the time, you can level up accounts and sell them through eBay or dedicated account-selling platforms. It takes time, but people are willing to spend a decent amount for good characters.

Gaming to Live

As you can see, there are a lot of ways to get paid to play video games. Whether you go the YouTube route, the Twitch route, or the pro-gaming route, three’s a lot of money to be made in the industry. So don’t give up the hustle — you could be the next Pewdiepie!

If you’re looking for a way to save money while gaming, see what Lootfeed can do for you. Contact us with any comments or questions.

Filed Under: Financial, Gaming Tagged With: Gaming, Progaming

5 Ways Video Games Trick You Into Spending More Money

5 Ways Video Games Trick You Into Spending More Money

March 22, 2020 By Michael Piggott

We live in a society.

“Why would you say something so controversial yet so brave?” You ask me.

The answer is simple: memes.

On a more serious note, let’s talk about the money-hungry video game industry. 

Now that we’re entering the rawring XD 20’s, we can look back at the past decade in gaming and marvel at how we’ve gotten from Red Dead Redemption to Red Dead Redemption II. We’ve seen massive improvements leading some people to say we’re living in the Second Golden Age of Video Games. 

But guess what? We’re also living in a capitalist hellscape. 

The advent of microtransactions has made studios filthy rich. In 2018 EA earned 2.2billion in microtransactions alone. The one and only Jim Sterling made the YouTube video The Addictive Cost Of Predatory Videogame Monetization about the psychological aspects of loot boxes, gambling, and their consequences.

While the Jimquisition did a great job exposing the ways gaming companies get you to spend money, let’s take a closer look at these practices and how to recognize them.

So, without further ado, here are the 5 most common ways the games you’re playing are tricking you into giving them your money.

1. “Let’s Go Whaling”

In his video, Jim references Tribeflame CEO Torulf Jernström’s presentation at the Pocket Gamer Presents conference in 2016. The name of this talk was “Let’s Go Whaling: Tricks for Monetising Mobile Game Players With Free-to-Play” and in the talk Jernström outlines a few different strategies for getting players to spend money on their games. 

Jernström calls the practice “Whaling” which refers to the practice of finding big spenders, or “whales”, and making sure they buy what your company is selling. During the talk, he explains that the best way to make this happen is through a process called Hook, Habit, Hobby. 

He starts his talk by saying, “The very best to get these guys to spend is to get two rich, competitive guys to fight each other and tell them ‘I’ll give you a slight upside if you pay.'”

2. Hook, Habit, Hobby

Jernström describes it like this: “It’s a model for how people progress in a game. The hook is what gets you into the game to try out free-to-play game, then you build it into a habit that you play multiple sessions every day, and then at the end, it’s the hobby phase where people see it as one of their main hobbies and they put lots of time and resources into it.”   

He also makes the point that once you’ve successfully onboarded a player into the hobby phase, there is no upper spend limit, meaning that a gaming company can continuously make more money off of you.

The video games that use the hook, habit, hobby strategy aren’t explicitly advertising products to their users, they’re using behavioral psychology to convince players to create a sense of identity that depends on their access to the gameplay, which depends on them spending money.

3. The Ikea Effect

In his talk, Jernström also refers to a well known psychological effect known as The Ikea Effect. The Ikea Effect posits that people will get more excited and/or value things more if they’ve played a part in its production.

The reason it’s called the Ikea Effect is pretty obvious, I mean who hasn’t been filled with pride after assembling a Billy Bookcase with a trusty allen-key!

So, what does this have to do with video game microtransactions? A lot.

When you’ve invested hours, maybe even days, of your life into a game you’re way more likely to invest your money in it too. One of the earliest and most influential examples of microtransactions was in 2006 when ‘The Elder Scrolls: IV’ Oblivion introduced the Horse Armor Pack, which cost between $2.50 to $1.99. This feature allowed players to customize small details of their gameplay, a model that is still prevalent to this day. 

This is where the Ikea Effect comes into play (literally), the more customizable options a game offers you as a player, the more you feel like you’ve crafted something truly unique, and the more likely you are to invest your time and money into the game.

4. The Insidious Nature of Microtransactions

Another way that video games can trick you into spending money is by creating a robust and complex economy based on in-game currency. Once a discrete currency has been integrated into the world of a video game it’s going to be an inescapable aspect of gameplay. 

Almost all video games involve some kind of in-game currency, and back in the day you’d get your V-bucks coins by finishing a quest, or being ultra agile with Donkey Kong on the mean streets of MarioKart. As companies start introducing the ability to convert real-world currency into virtual currency, you’re already a player in the economy, which makes it way easier to convince you to buy-in, so to speak. 

5. The Dark World of Loot Boxes

Last September the Guardian published an article titled, “Video Game Loot Boxes Should be Classed as Gambling, says Commons”. In the article, they go over how the practice of loot-boxing is ostensibly the same thing as gambling, which we all know is true. The article then goes on to cover why loot-boxes can’t be legally classified as gambling, explaining that “the items won are not considered to have monetary value.”

When you purchase a loot-box you’re winning specifically in-game prizes, and you can’t cash out the way you would be able to if you were actually gambling. This loophole means that video game studios can profit off of the human propensity for gambling without any accountability for leading people down a dangerous path that can, and often does, end in addiction.

Rage Against the Microtransactions

Or don’t. In the end, it’s completely up to you how you engage with microtransactions and video game currency. Some people love the convenience and customization made available through spending a couple of bucks here and there. 

That being said, there are ways you can manage your spending habits while gaming. For instance, we’ve invented a super cool tool that automatically saves you money while you play. Most importantly, knowledge is power. Staying on top of how the gaming industry turns a profit keeps you in a position where you’re making decisions with open eyes.

Check out our blog for more dank takes on the world of gaming and personal finance.

Filed Under: Financial, Gaming Tagged With: Gaming, microtransactions

The Hitchhiker’s Guide to Discount Gaming: Finding the Best Game Deals Online

The Hitchhiker’s Guide to Discount Gaming: Finding the Best Game Deals Online

December 16, 2019 By Michael Piggott

Over 150 million Americans actively play video games, with 60 percent of these people playing each day. If you love gaming, but dislike the high prices associated with this activity, then the information here is written for you.  

When it comes to discount gaming, we have all the tips and tricks you have been hoping to find. With the help here, you can be gaming in no time – without breaking the bank!

Be Patient

When a new game comes out, you may be tempted to purchase it right away. However, games drop in price rather quickly.

While it’s great to purchase a game the day it’s released, if you can be patient – even for a week – then you can get it for a significantly lower price. If you can wait an entire month, you can scoop up the game for a fraction of what it originally cost.

For example, in 2014, when the PS4 was introduced by Sony, the price was $399. Today, you can get it for $299 or less, depending on the retailer. Patience is a virtue when it comes to games and gaming systems. 

Buy Second Hand

If you go to a game store, you can find popular games, second-hand, for a price that’s very close to what it originally sold for. However, if you shop smart, you can likely find the game second-hand for a much lower rate.

There are some people who purchase a game, beat it, and then sell it. This is a great way to get an amazing deal on popular games.

Think about it – you can purchase the popular game Red Dead Redemption II for $59.99 new. However, if you visit sites such as eBay or others that have second-hand games available, you may wind up paying $40 or less for the same game. That’s a significant savings!

Search for Coupons and Discounts

Gaming is a huge, and lucrative, industry. In 2018, this industry generated right under $135 billion.

While this is true, it doesn’t mean there aren’t opportunities for you to save a few bucks or more. The key is to know where and how to find these discounts.

Believe it or not, with a simple online search, you may be able to find online coupons for any game you are interested in buying. This is going to help you save a significant amount of money while getting the game you want.

You can use various discount apps to find coupons automatically as you go to purchase a game. In fact, with a bit of digging, you may be able to find discounts of 25 percent off or more.

Discount Gaming: Save a Little or Save a Lot

It is possible to save money on the latest and greatest games, across all platforms. However, if you want to make the most out of discount gaming offers, you have to know where to look. The tips and information here should help you get started.

To learn more about saving money on gaming, be sure to check out our deals and steals. We can guarantee that you won’t be disappointed with the results you achieve and the money you can save. Visit today and visit often to see the latest deals and money-saving opportunities we have available.

Filed Under: Financial, Gaming

5 Best Ways to Make Money Playing Video Games – Ranked!

5 Best Ways to Make Money Playing Video Games – Ranked!

October 19, 2019 By Michael Piggott

Since civilizations took shape, parents have been telling their children to find something they enjoy doing and get paid for it. It’s the basis of an economy and lauded as the core of a fulfilling life.

In spite of some misgivings and warnings from fuddies in the ’80s and ’90s, the ability to make money playing video games continues to grow. Like any industry that makes money, there are ways to get in on that cash.

As a gamer, you know that putting in the work is key to getting the reward. Whether that takes the form of honing skills, learning strategies, or farming the best gear and items, the principle is the same. 

Check out this list of ways to get paid to play video games.

Make Money Playing Video Games (with Caution)

This list ranks the difficulty of getting into each avenue, which, as is often the case, also reflects the earning potential of each position. 

No matter which path you pursue, remember that learning to save money is always a part of making money. Using capital and resources wisely beats splurge and regret every time. 

1. eSports Athlete

As 2019 winds down, projections that the eSports industry will break a billion dollars appear to hold true.

There’s a lot of money in the pot for advertising and revenue from spectacular events, like the upcoming League of Legends World Championship. 

Getting a piece of that for yourself takes some dedication, skill, and a bit of luck — but less than in other professional sports leagues. 

One of the big advantages of breaking into the world of eSports is that you don’t have to be discovered. Most of the eSports games have a ladder built-in to put the best players toward the top, where they can form teams and get prizes.

Still, if you intend to make money through eSports, you have to take practicing seriously and commit to learning the meta of your given game.

Even if you don’t hit it big by being recruited in a team, its’ possible to win tournaments and contests from the comfort of your home. The purse on some events reaches hundreds of thousands of dollars.

2. Streaming

It doesn’t matter if you go through YouTube, Twitch, or an emerging service. Getting into streaming is a tough field.

As a way to get paid to play video games at home, it has a lot of potential. Some streamers rack up six figures or more a year even before the endorsements and side deals come into play.

The difficulty you find is in finding and growing an audience. This takes careful attention to your presentation and image. The wrong word in the wrong stream can be the end of your career.

Streaming also takes a lot of additional skills outside of the game. Some streamers even specialize in bad gameplay, making the stream itself entertaining through personality or gimmicks. 

Consider building yourself a careful plan before starting on the streaming path.

3. Quality Testing

Gaming and quality testing are two slightly different jobs. They are, however, jobs. You show up to a building and put in the hours, often getting paid hourly but sometimes with a salary.

Unlike everything else in this ranking, this method of how to get paid to play video games involves a direct exchange. There is no non-game time or additional work that you’re getting paid for.

You aren’t getting paid for your personality or ability; you get money to brute force through the game and complain about the bits that don’t go well or argue about which bits are best. Those elements are essentially perks of gaming, so it’s easy to include them as job duties that are technically gaming.

4. Selling Currency

Different games have different legality attached to what can and cannot be sold. Third-party sites for selling currency, items, and accounts all carry their own risks but are viable options.

If you enjoy ripping your way through the hordes of mobs to get that just-so piece of loot or currency, it’s not impossible to cash in on the effort.

More and more gamers find themselves with less time to play and more money form other jobs. They’re willing to pay for your time to save theirs.

It serves you to get a good grip on the meta of the game and the item effects before you start. Consider watching prices carefully, and don’t fall into the undercutting to sell temptation that hurts your bottom line.

5. Create a Community

A bit different than streaming but also containing video releases, community creation is about building.

This is the last item on the list because it generates currency the slowest and contains the least ratio of gaming to side work.

To build a community, start by gaining as much knowledge as you can in a game. Build and write strategy guides and walkthroughs. Delve into the lore and make some sensible guesses at future developments.

Once you strike on an interest, pursue it. You generate money by monetizing your pages with ads and asking for donations to keep you going.

Many players are more than willing to put up with a few ads to find a secret or puzzle answer they’ve been struggling with. The more niche your community, the more likely someone will want to chip in and appreciate the work you do to keep a particular game interesting for others.

This method of making money playing video games often lays the groundwork for a streaming career.

Put in the Time

These aren’t the only ways to make money playing video games; they’re just the most common with a proven track record. If you don’t feel ready for any of these, find your own path. Several of these methods have only existed for a decade, so there’s time to build your own niche.

In the meantime, you can always learn more about saving through gaming. Check out our FAQ to get a clearer understanding of what Lootfeed does for you.

Filed Under: Financial, Gaming

The Gamer’s Savings Plan: Why Saving Can Help You Buy Games

The Gamer’s Savings Plan: Why Saving Can Help You Buy Games

September 22, 2019 By Michael Piggott

There are at least 2.2 billion gamers active in the world today. 

On top of that, people spent over $23.5 billion on games in 2015. 

If you’re one of those many people who love games, what if I told you that you could buy your favorite releases without ever feeling financial stress?

It’s time you learned how to save your money so you can play the games you want. 

Interested? 

Read on to learn about the ways you can use a gamer’s savings plan to make your life easier, and how you might even be able to make some extra cash while you’re at it. 

The ‘Sell Your Unwanted Games Savings Plan’

If you’re a console gamer, chances are you have titles hanging around that you no longer play. 

Want to save your money? Sell your used titles for extra bucks. 

Where’s the best place to sell your used games? 

Try out Amazon and Ebay. 

Amazon lets you market your old game through strong filters and has enough users that you’ll virtually always get a bite. 

Rent Your Games

Ever wondered why most newly released console games cost so much?

Part of the reason is due to production and sheer development. But the games you buy on release-day are often over-priced due to buyer competition. 

If you’re tired of waiting in a long line to buy an expensive game, look towards online renting services. 

AmazonPrime, Gamefly, and Nvidia are just some of the options that can save you a lot of money. Then, you aren’t paying tons of money every year Bethesda comes out with a new Elder Scrolls title. 

Replayable Titles 

When you’re researching new games to buy, target games that have high replayability. 

This makes it easier for you to settle down with one particular game, and not spend loads of money on a new release right away. 

Try searching for games that focus on open-world questing and multiple endings. This makes you motivated to play the game again, saving you money. 

Do Your Research 

This ensures that you aren’t wasting your money on a game. 

Though you can never know how good a video game is going to be from reviewers and spec-research, you can get a better idea of how much fun you’ll have. 

Be sure to research a game through multiple game-review outlets. Some will have inherent biases towards or away from the title you’re interested in. 

You can also try reaching out to betas and demos to see if the game is worth your money. 

Game Investments 

It seems like a dream question: how do I make money playing games? 

The answer is simple. Besides saving, you can make real-time investments while you play your favorite games. 

Options like Lootfeed allow you to connect your game data to an investment app, making you money while you play. 

Save Money While You Play 

A good savings plan can give you all the opportunity you need to play the games you want without worrying about your wallet. 

What about making some extra cash while you’re playing? 

Here’s your chance! You can check out services like Lootfeed to automatically accrue funds while gaming away. 

Go for it. Be the gamer who never has to sell another title again. 

Filed Under: Financial, Gaming

Money Management Tips: 4 Ways Gamers Can Save Money in Life

Money Management Tips: 4 Ways Gamers Can Save Money in Life

September 7, 2019 By Michael Piggott

Real life money management tips are similar to how you spend your loot in the video games you play:

You earn coins to buy weapons and gear and save up to get the “good stuff.” You don’t want to blow your bank on things you don’t really need because that could mean having to go without later. 

But in real life, the stakes are higher. You’re not 16 anymore and need to think carefully about how you spend your money. 

You’re keeping a roof over your head, food within arm’s reach, and the power on so you can keep gaming. Plus, you’ll never be able to save for retirement if you keep blowing your money on your gaming habit.

That doesn’t mean just because you’re older now and have more responsibilities that you can’t still enjoy gaming.

It’s never too late to press Start on these four money management tips:

1. Buy Used Games

A new game can easily cost you $60 or more. But buying used video games can give you the same gameplay for less cash. 

Stores like GameStop have made a big business from buying and selling used games, giving you upfront savings. 

Or, you can scope out sites like Craigslist, Facebook, or eBay for even better deals. 

2. Consider a Game’s Replayability

Forget about the hype. Before you invest your hard-earned money on a game, think about the total value the game will bring you. 

The best games are those you can play again and again. This helps you get your money’s worth and eliminates the need to rush out and buy more games since you already have something worth playing. 

Games that you’ll only play once or twice might be cheaper to rent or borrow from a friend. 

3. Trade Games with Friends—It’s Free!

If you have gamer friends, consider pooling your collection to expand your options. 

This gives you greater access to games without you having to spend your own money on them. Plus, you’re helping out a fellow gamer do the same.

Or, if you have kids who are also into video games, buy the titles that you’re also interested in playing so you can stretch your gameplay even further. This is also a good opportunity to share with your kids the older video games that started it all and do some reminiscing at the same time.

It’s a win/win!

4. Stock Up on Steam Sales

Steam is the holy grail for gamers. This online platform sells tons of games at way below retail prices. They have popular titles that everyone is talking about and titles that no one is talking about, and everything in between. 

The catch is that there are no physical media, which is one of the things that drives up the price of games at stores. Rather, you download your games directly to your PC.

If you find you can’t enough Steam, consider getting a dedicated Steam Box to house all your games. This allows you to play your games on your TV with a real controller, not a keyboard, giving you the same convenience of a console. 

Keep in mind if you build a Steam Box, it will take a while to recoup your investment. The games can be cheap, but gaming PCs are not. Do some math to calculate if this investment is worth it. 

Find More Money Management Tips for Gamers

Gaming can be an expensive hobby, but it doesn’t have to be. Savvy money management tips like the ones above can help you avoid going broke.

There are always ways to save on your favorite games, even if it means not getting them on release day.

Find more money-saving tips on the Lootfeed blog!

Filed Under: Financial, Gaming

What do you play for?

What do you play for?

August 7, 2019 By Michael Piggott

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What do I play for?

As an aging gamer who is adulting full time now, I seek to have it all: a career, family, and playing the best games possible. 

Adulting isn’t easy, and staying young at heart is even harder. So it’s no wonder that at 2 am, I am either sleeping or playing video games. During this time I don’t regret the fact I have to go to work in a couple of hours.

My only regret is, I could be doing something else more productive with my time. 

Coming across an article on Wired Magazine, I discovered this feeling is known as Gamer Regret, also known as Gamer Guilt. Not to be confused with Gamer Remorse which according to the Urban dictionary is the regretful feeling one gets while trudging exhaustedly through the day after a dutiful night of gaming. 

It turns out there are a lot more gamers; the average age of a gamer being 34 years old, that also share the feeling of Gamer regret. With this knowledge, I become obsessed with this feeling and have dedicated myself to finding ways to get rid of it.

After doing tons of customer interviews, I found that gamers who feel this way have multifaceted lives with competing interests.  Their lives might include a ton of responsibilities, job, kids, and family. From 18 or younger, we tend to think we have all the time in the world and don’t reflect on our time gaming. Time isn’t an hourglass until you see how much changes around you and how much you change over time. The reflection on my time gaming and life became the genesis of Lootfeed and the question.

What do you play for?

Lootfeed as a concept is simple: the time you spend while playing a video game is also spent building value (IRL) in real life. Games today bring a person educational, therapeutic, and recreational value, but what if there could be more? A select group of streamers and professional gamers as of this decade have been able to create real-world monetary value based on virtual exploits. What is the intrinsic value?

We believe in the future. Every time a gamer plays a game, this gamer will be synchronous Looting in real life for something — for example, their savings, goals, college loans, retirement, and investments.

Approximately 2.2 billion gamers share gaming as a hobby in the world. With the estimated 7.6 billion people living on earth, this means that almost a third of people on this planet are gamers!

Gamers spend an average of nearly six hours each week playing videogames. Millennial gamers (age 18-35) spend more time watching other people play video games than they spend watching traditional sports on television. Meanwhile, younger gamers (age 18-25) spend almost an hour more each week watching online gaming than watching traditional sports. Gamers spend an average of one hour and 48 minutes each week watching other players play online on sites such as Twitch. In comparison to two hours and 27 minutes spent watching traditional sports on broadcast television.

Lootfeed is a Hobby meeting a habit.

Hobbies are recreational activities that you repeatedly do.

Habits are a regular tendency or practice.

Lootfeed seeks to marry your gaming hobby with positive habits.

On average, a person spends about 10000 hours of gaming in their first 18 years of life. What if this had tangible value outside of potential esports skills acquired? 

Pay and or Invest in yourself while you play.

Go to Lootfeed.com to learn more

Filed Under: Financial, Gaming, Lootfeed Tagged With: Financial, Gaming, Loot

Why is Lootfeed relevant right now?

Why is Lootfeed relevant right now?

August 1, 2019 By Michael Piggott

It’s never been so easy to save and invest but are gamers addressed in these services?

Microsaving or Microinvesting

There is a rise in personal financial technology applications (fintech apps) assisting in personal finance. Robinhood, Acorn, Stash, and Qapital are just some of the ways millennials are saving or investing their money. Not trusting a startup over a bank, especially after the financial crisis makes sense. The youth distrust of the old guard, in turn, this benefits the new guard fintech startups. 

Despite the fact these startups or companies are backed by big banks, for example:

  • Acorn is supported by Lincoln Savings Bank 
  • Stash is supported by Green Dot Bank 
  • Qapital is supported by Well Fargo 

Even with the highly anticipated Apple card, Goldman Sachs takes the role of the issuing bank, with Mastercard serving as the payment network.

It’s never been so easy to save and invest but are gamers addressed in these services?

Blast currently is addressing Andriod gamers, but this neglects a large percentage of console and pc gamers.

The following are factors and trends that set the stage for Lootfeed:

Saving Crisis

Earlier in 2019, many Americans went without a paycheck or two due to the government shutdown. Since then, statistics have been published to show that forty percent of people in the U.S. don’t have $400 set aside for an emergency, according to the Federal Reserve. Additionally, 25 percent of Americans have nothing saved for retirement.

Debt Crisis

  • College loans 

Americans owe over $1.56 trillion in student loan debt as of 2018, spread out among about 45 million borrowers.

That’s about $521 billion more than the total U.S. credit card debt.

11.5% of student loans are 90 days or more delinquent or are in default.

The average monthly student loan payment (among those not in deferment) $393

  • Credit cards

Americans owe $1.03 trillion total U.S. credit card debt with the average credit card debt per cardholder in the U.S. owing $5,234.

196.8 million credit cardholders in the U.S. (or 79% of adults)

  • Car loans

Americans owe $1.13 trillion in total U.S. auto loan debt

$31,099 is the average auto loan amount on a new car

The average auto loan payment amount is $515 on a new car

  • Medical debt 

42.9 million Americans have overdue medical debt in the U.S.

$1,766 average balance owed among people with overdue medical debt

25.7% of people under 65 struggle to pay medical bills of more than $2,000

12.6% of people under 65 struggle to pay medical bills of $2,000 or less 

Accountability 

Whether you are politically active, contrarian, or a disillusioned. We live at a time when Americans want to see responsibility for words and actions.

We want this from the people who serve us and the companies of the products or services we use. Primarily if those people and products affect our lives and those we love.

We want to hold ourselves and others accountable for the words we use, our actions, and why, not the time we spend.

Productivity

The average age of a gamer is 34 years old, with more responsibility and less time to play. Often feel they could be doing something more productive with their time gaming. As gaming becomes even more accessible through mobile platforms and the advent of cloud gaming, this problem will become more widespread.

Binge culture

Excess has always been apart of American culture. Many immigrants came here looking for the streets paved with gold and were ready to scoop it all up for themselves. Streaming services, social media, and food companies know that we want to consume as much as we can of the things we love. This obsession with binging can lead to financial and physical unhealthy lifestyles without a balance with a positive habit.

AI Assistant Ghost

The tread of giving orders to an application or artificial intelligence to do something of value in your absence or while you preoccupied has been on the rise in different industries.

For example:

  • Algorithm Crypto Bots – https://medium.com/@ShrimpyApp/the-best-automated-crypto-trading-bots-in-the-market-38e21a25d1b
  • Robot vacuums – https://www.pcmag.com/roundup/341251/the-best-robot-vacuums
  • Google assistant calling on your behalf
    • https://support.google.com/business/answer/7690269?hl=en
  • A game called Samurai Shodown, which has a Ghost AI that mirrors your playstyle
    • https://youtu.be/bPwAr8uTw5A
    • https://www.gamecrate.com/incredible-potential-samurai-shodown-s-new-ghost-ai/23105

Arcade/Casino – Nothing new under the sun

During the early days of the videogame industry, a gamer could not play at home. He or she had to go to an arcade to play a videogame. The first pay to play, for a quarter a gamer could play for some time or until he/she died in the respective game. A few arcades survived if not for nostalgia, but for combining their business models with bars and restaurants to create a more stable income stream. Now it has gone full circle. We help gamers pay themselves as they play their favorite games.

Game addiction/ Game disorder

Gaming addiction has been a problem for a percentage of the gaming population. It is highly debated and discussed among gamers, researchers, health officials, politicians, and parents. The recognization and classification of gaming disorder by The World Health Organization is a significant move forward in the debate surrounding gaming addiction. Subsequently, Congress has started legislation to ban Loot boxes and Pay to Win Microtransactions.

Filed Under: Financial, Gaming, Lootfeed Tagged With: Addiction, debt, Gaming, Loot, Productivity, saving

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