There is a huge opportunity for Bitcoin – and other digital currencies – to make an impact in the mobile gaming industry now. Micro-transactions through traditional means, such as credit cards or Paypal, are just not worth the effort for game developers, due to the high transaction fees. Bitcoin can easily solve that problem, because its transaction fees are minimal. One company to keep an eye on in the mobile gaming industry is Playlab who recently secured US$5m in Series B funding.
Make sure to read: Kinguin Integrates Bitcoin Payments Due To Overwhelming Customer Demand
Playlab Focuses on Asian Mobile Gaming Market
It is no secret that mobile gaming has become a major hit in the Western world. Due to popular social media platforms such as Facebook, everyday consumers have been introduced to the aspect of casual gaming on-the-go, which translated into an easy transition to mobile gaming. Popular games, such as Angry Birds, Candy Crush, and Bejeweled, are installed on millions of devices.
That being said, the Asian continent is known for its dedicated gamers, even if the games are just casual. Furthermore, quite a few of the world’s most popular mobile games are developed in Asia. Southeast Asia, in particular, is of great value to mobile game developers right now, as the mobile games market is about to explode in this region.
Playlab will use their recent round of Series B funding – worth US$5m – to expand their operation in Southeast Asia. In fact, the company is carefully weighing all possible options, ranging from internal projects to launching new studios. Before any of this can happen, the company will need to track down the brightest minds in the mobile gaming industry in the region, and take it from there.
So far, Juice Cubes has been the most popular game created by Playlab. Juice Cubes is slightly similar to Candy Crush and available to both iOS and Android users. The success of this game is part of the reason Playlab had to quintuple their staff, up from 20 members to 100 in the past 12 months. The game has been downloaded over 20 million times and was created in conjunction with Rovio Entertainment Ltd.
Future plans for Playlab include a full in-house relaunch of Juice Cubes, as the current version of the mobile game is prone to freezes and lockups on various devices. Furthermore, Playlab wants to do its own publishing from now on and use its own name to establish their presence in the sector. However, the company is willing to help Rovio establish a Southeast Asian presence if needed.
Introducing Bitcoin for Microtransactions
Now that Playlab – as well as other mobile gaming companies – are focusing their attention on the Asian market, changes to in-game transactions are on the horizon. Making in-game purchases more convenient should be a top priority for every mobile gaming company, and Asia is warming up to the popular digital currency known as Bitcoin.
With Bitcoin, transactions are subject to fewer fees, and payments are completed within mere seconds. Furthermore, game developers will not have to worry about fraud or chargebacks, as Bitcoin payments are non-refundable by definition. It only makes sense to integrate digital currency payments sooner or later.
Source: Tech In Asia
Images courtesy of PlayLab, Juice Cubes, Shutterstock