Immutable Partners with Transak for Web3 Gaming Payments Integration

The Web3 gaming company Immutable will integrate the Immutable zero-knowledge Ethereum Virtual Machine (zkEVM), with Transak serving as the sole payment service provider. It is anticipated that the service will directly support fiat and Web3-based payments in gaming environments.

Immutable Passport and Immutable Checkout will incorporate the Transak service. The former serves as an all-encompassing transaction infrastructure for games on behalf of Immutable and provides game developers with a configurable interface through which to integrate diverse payment methods.

In addition to Apple Pay and Google Pay, Transak’s on-ramp, off-ramp, and nonfungible token (NFT) payment service accepts credit and debit card payments.

The payment rail will facilitate in-game transactions for digital assets, according to Harshit Gangwar, director of marketing for Transak. Michael Powell, the director of product marketing for Immutable, further verified that its flagship Web3 games, Guild of Guardians, Gods Unchained, and Cross the Ages, will incorporate Transak’s initial integration.

Transak is a well-established provider of payments infrastructure, and more than 350 applications use it. This includes MetaMask, Ledger, Trust Wallet, Coinbase Wallet, LBank, Bitcoin.com, Bake (CakeDefi), and PancakeSwap, among other prominent Web3 wallet solutions.

“These products will be used by hundreds of high-quality games over the next couple of years. The majority of those games are scheduled to go live in 2024.”

Its payment service is not only well-established in the Web3 gaming sector but also actively used in a number of games sponsored by Animoca Brands, a venture capital company with interests in Web3 gaming.

Prominent Animoca titles, including Decentraland, Splinterlands, Revv Racing, FormulaE High Voltage, and MotoGP Ignite, among others, employ Transak’s solutions. Gangwar notes that Transak users can use more than twenty payment methods in 160 countries to purchase cryptocurrencies and NFTs.

Fees vary based on combinations of cross-country transactions and payment methods. “Overall, the pricing can range from 0.49 percent to 3.49 percent,” Gangwar explained. The custom pricing outlined in Transak’s agreement with Immutable is rumored to be reduced from the default pricing.

Payments are supported for over 170 cryptocurrencies across 75 blockchains via the infrastructure. According to a recent report, investment companies like Animoca continue to focus primarily on the Web3 gaming sector.

Yat Siu, one of the company’s co-founders, cited the organization’s investment in the Open Network blockchain and its incorporation with Telegram as possible mass-market catalysts for the adoption of Web3 gaming. Through the messaging application, more than 800 million users have access to Web3-enabled activities powered by blockchain technology.