Web3 game distribution platform Portal is launching Portal Pay to enable cross-chain interoperability in Web3 games.
The crypto payments solution is designed to empower games and decentralized applications (dApps) with unparalleled cross-chain interoperability. This milestone marks the first in a series of upcoming major initiatives and product launches from Portal, which is on a mission to solve game distribution.
The various initiatives are set to roll out through the second half of 2024.
Portal Pay wants to transform the gaming landscape by offering an enterprise payment solution that will directly enhance the end-user experience for games and gamers. It enables the full interoperability of digital assets from any blockchain, allowing gamers to pay with over 5,000-plus tokens in a single game. It also allows games to receive payments in their preferred digital currency, leveraging the Portal Pay smartswap feature.
The company said this positions Portal as the first game-specific payments infra, simplifying and enhancing the user experience by making blockchain technology seamless and nearly invisible.
Pay is a key part of Portal’s overarching vision to solve distribution for Web3 – starting with gaming. Each upcoming product in the Portal roadmap is designed to facilitate some aspect of gamer and liquidity movement across Web3, including specific products for discovery, identity, gaming wallets, liquidity and payments and rewards.
By solving every variation of the distribution problem, Portal can capture users and liquidity from anywhere.
Portal Pay promises unmatched interoperability as it is compatible with 5,000-plusdigital currencies. Any new token can be integrated into Portal Pay rapidly. Integrated with popular gaming MOR and payment technologies used frequently outside of crypto.
And the company said Portal Pay delivers the ultimate UX that Portal has promised to the global community. By making blockchain technology invisible, it further accelerates the march toward mass adoption through seamless and easy use.
It also offers flexibility. Games can receive payments in any token they prefer, providing them with unprecedented control and customization over their digital assets. And Portal said it empowers developers by dramatically simplifying digital asset management and thereby allowing game developers to focus on creating immersive gaming experiences rather than dealing with the complexities of crypto payments.
“Portal Pay is a game-changer for the web3 gaming ecosystem,” said Ezra Strauss, head of partnerships at Portal, in a statement. “Our goal has always been to unlock the full potential of cross-chain interoperability, and with Portal Pay, we are bringing that vision to life. This solution not only simplifies digital asset management for game developers but also enhances the gaming experience for users by providing them with the flexibility to choose their preferred currencies. We’re excited to see how Portal Pay will transform the industry and drive mass adoption of blockchain technology.”
Portal’s commitment to pushing the boundaries of distribution in the gaming industry is unwavering. Portal Pay is just the first of many groundbreaking products set to be unveiled. As the company rolls out a series of major initiatives and product launches through the end of Q3 2024, it aims to consistently deliver solutions that redefine the digital gaming experience.
Portal’s advisers include Jamie King, Rockstar Games cofounder; Russell Hanson, former CSO of Consensys; Matt Dixon, former head of business development at EA; and John Yao, CEO of TeamSecret eSports. Portal currently has more than 200 partner games and is proudly represented byWME, the world’s largest talent agency.
Portal has raised $11 million to date and it has more than 80 full-time employees. Investors include Michael Bouhanna (VP and head of digital art at Sotheby’s), Max Crown (CFO of Moonpay), Ray Chan (CEO at Memeland and 9GAG) and Giulio Xiloyannis (CEO of Pixelmon).
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