Nexon America makes Big Move Towards Crypto

Online gaming giant Nexon America makes Big Move Towards Crypto.

The tech and gaming industries have shown tremendous interest in crypto lately and the trend seems to carry on with the momentum. Online gaming companies now plan to receive payments in cryptocurrencies.

Nexon America, an online gaming company and subsidiary of South Korean gaming giant Nexon, announced that it has started accepting payments in cryptocurrencies.

Nexon America accepts several cryptocurrencies and digital assets in terms of payments. The announcement comes after Nexon America’s successful deal with BitPay, a crypto payment processor.

This new feature will allow players to purchase in-game items and content using popular cryptocurrencies like bitcoin (BTC), litecoin (LTC), ethereum (ETH), and Dogecoin (DOGE). Some other less popular and more stable coins are also accepted like Binance USD (BUSD), Gemini dollar (GUSD), and DAI among several others.

General Manager of Nexon America, Kenny Chang, said, “Nexon America listens closely to feedback from our players, including the many who have requested we include cryptocurrencies as a form of in-game payment.” He further added, “Effective immediately we are pleased to offer this innovative payment feature for our players.”

However, the announcement also added that the decision to accept payments in cryptocurrency is not linked to Nex-on’s bitcoin holdings. The Nex-on bitcoin holdings are “held as one of the company’s multiple currencies and as a hedge against [the] debasement of fiat currency.”

Earlier the game company bought $100 M worth of bitcoin at an average price of $58,200 per coin which made the company’s total BTC count to 1717 BTC.

Nexon America makes Big Move Towards Crypto

The move to accept payments in cryptocurrencies comes in at a time when game developers have flocked in huge numbers towards blockchain-based game projects.

Game developers and companies are incorporating crypto technology into games after Axie Infinity’s astronomical success.

Activate Consulting, a management consulting firm, said, “As more consumer time migrates to digital experiences and interest grows in the metaverse, we believe that every technology and media company will need an NFT strategy.”