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!
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