In recent years, Non-Fungible Tokens (NFTs) have significantly impacted the crypto-asset space, gaining widespread adoption across mainstream industries and users. While digital items have been around for decades, NFT technology introduces a new dimension of tangibility, allowing items to be freely sent, used, and exchanged beyond the confines of any closed system or app.
HandCash has been closely monitoring the NFT trend for years and has witnessed its positive influence on user experience, says Alex Agut (CEO and Founder of HandCash).
The HandCash suite of products offers a range of ways to interact with the BSV blockchain, with the HandCash wallet providing a sleek and feature-packed application for end-users. At the same time, HandCash Connect combines a suite of tools for businesses and developers looking to integrate their products with BSV. However, the company is now transitioning from a Bitcoin wallet into gaming‘, said Agut.
An imbalance in the gaming market
‘Gaming is not just a $242 billion industry. For millions of people around the world it is a passion, a way to connect to people, and even a way to make a living,’ Agut said. ‘As online gaming has grown in popularity, so has in-app microtransactions. Originally, these microtransactions were cosmetic and did not affect gameplay.’
However, Agut noted that the industry has shifted in recent years as gamers are being encouraged to pay for an advantage online – creating an imbalance and a ‘pay-to-win’ economy.
The result is that people with the most money have an advantage over people who spend hundreds of hours playing the same game.
HandCash is well-positioned to be a gaming disruptor
HandCash’s long history in the blockchain space means that it is well-positioned to enter into and help disrupt the gaming market, said Agut. ‘Over the years, more than half of our clients have been gaming companies who came to us looking for ways to monetise their communities.‘
‘They also all had one thing in common – wanting to build better game economies which empower players and allow them to trade, bet and reward each other,’ he said. This in turn will lead to higher engagement, longer game lifecycles, and more revenue drive from more volume.
Agut added that HandCash relies on a few main pillars to help with this transition:
- A payment system with best-in-class performance and UX – built on the BSV blockchain;
- The system is based on stablecoins, offers instant settlements, is available worldwide 24/7, and has no chargebacks.
Agut noted that gamers are typically wary of ‘crypto’ but that the use of stablecoins, through a partnership with Tokenized, means that players can buy and trade using a coin backed by dollars.
Marketplace and HandCash items
HandCash also recently introduced items to its marketplace. Items offer a versatile, expandable, and enjoyable solution for overseeing digital assets and fueling virtual economies online.
For app creators, the potential is limitless with HandCash, offering simple functions to embed desired data into items and the infrastructure to link them across all compatible user wallets.
Imagine enhancing your user experience by incorporating digital items that represent valuable assets within your economy, ranging from in-game items and virtual real estate to skins and access tokens.