A new partnership between fintech company Zebedee and crypto exchange platform Bitnob is set to revolutionize the gaming industry in Africa. The companies will offer payment and gaming rewards options using the Bitcoin Lightning Network, allowing gamers to send and receive small amounts of Bitcoin while playing classic games like Counter-Strike.
Gaming Rewards with Bitcoin
A partnership between Zebedee and Bitnob has been established to provide payment and gaming rewards options in Africa. Zebedee, a fintech and payments processor that caters to the gaming sector, will offer African users the opportunity to earn Bitcoin by playing games powered by their platform. Instead of receiving in-game points, players will earn satoshis, the smallest unit of Bitcoin, which can be exchanged for local currency such as the Nigerian naira. Bitnob will facilitate the conversion of satoshis into local currency for users.
Game developers considering Bitcoin as a viable option for gaming tournaments and other rewards were the driving force behind the partnership. According to Zebedee Chief Strategy Officer Ben Cousens, traditional fiat rails are too expensive for paying players in Africa. However, with the use of the Bitcoin Lightning Network, microtransactions are possible, making gaming rewards more accessible to the gaming community in Africa.
Growing Interest in Bitcoin and the Lightning Network
The Lightning Network has taken a special increased interest in Africa, partly due to its capacity to make microtransactions more accessible. Bitcoin Senegal founder Nourou stated that microtransactions are the economic reality in Africa. The young demographics and digitally native population in Africa make it an ideal market for the gaming industry to explore the potential of Bitcoin and the Lightning Network.
The combination of the Lightning Network and gaming is becoming a growing trend in the bear market. Cousens said it’s a natural evolution of the interactive entertainment landscape, where rewarded play provides meaningful performance uplift for game developers. With the backdrop of slowing growth in mobile gaming revenue, engaging players in a fun and creative way is key.
Zebedee’s Expansion in Africa
With its operations already established in Brazil and the Philippines, Zebedee’s expansion into Africa will supplement its existing ventures. The company’s second-layer gaming system allows developers to grant Bitcoin as rewards to players. By forging this partnership, the aim is to gain a big slice of Africa’s $180 billion video games market.
Final Thoughts
In conclusion, the partnership between Zebedee and Bitnob is set to revolutionize the gaming industry in Africa. By leveraging the Bitcoin Lightning Network, gamers can now earn small amounts of Bitcoin while playing classic games like Counter-Strike. This partnership is expected to tap into the growing market in Africa and provide an alternative to traditional fiat payment systems, making gaming rewards more accessible to the gaming community in Africa.
Aside from the benefits already mentioned, the partnership between Zebedee and Bitnob to offer Bitcoin payments and gaming rewards in Africa using the Lightning Network has the potential to bring several other advantages.
First, the partnership could help to drive the adoption and awareness of Bitcoin and the Lightning Network in Africa, especially to the younger demographic. By incorporating Bitcoin into popular games and offering it as a reward for gaming achievements, more people may become interested in using the cryptocurrency and exploring its benefits.
Second, the partnership could also help to address some of the challenges associated with traditional payment rails in Africa. As Zebedee’s chief strategy officer, Ben Cousens, pointed out, paying players in fiat currencies can be expensive and difficult in certain African countries. By using the Lightning Network and Bitcoin, however, payments can be made quickly and cost-effectively.
Third, the partnership could help to attract more game developers and companies to Africa. As Cousens noted, if major gaming companies like Activision Blizzard or EA Games can offer Bitcoin rewards to players in Africa, it could help to boost engagement and drive revenue growth in the region. This, in turn, could create more opportunities for local developers and game studios.
Fourth, the partnership could help to address issues related to financial inclusion in the region. According to a report, around 350 million adults in Africa are still unbanked. By using Bitcoin and the Lightning Network for payments and rewards, people who do not have access to traditional banking services may be able to participate more fully in the gaming economy.
Overall, the partnership between Zebedee and Bitnob has the potential to bring a range of benefits to Africa’s gaming and cryptocurrency industries. As the use of Bitcoin and the Lightning Network continues to grow in the region, it will be interesting to see how this partnership evolves and what other innovations emerge.