Purchasing in-game virtual currencies for mobile games with bitcoins is now possible through SuperRewards, a San Francisco-based social and mobile game monetization specialist.
“We feel that it’s a natural fit for someone that wants to buy virtual currency to use a digital currency,” said SuperRewards co-founder Lyal Avery, who emphasized the opportunity given to players to take advantage of the availability of myriad payment methods to make in-game purchases.
He added SuperRewards customers and some game publishers have also expressed great demand for Bitcoin payments to be accepted, which explains the company’s move to integrate the digital currency into its system.
However, Avery cleared that his company is only accepting bitcoins for the purchase of in-game virtual currencies and is not yet prepared to offer services that directly accept bitcoins due to the legal complexities that involve the digital currency.
Meanwhile, the inclusion of the Bitcoin currency in the list of payment methods honored by SuperRewards involves the participation of Coinbase, a Bitcoin exchange that is also based in San Francisco, with a primary function of converting bitcoins to fiat currency.
The US dollars generated from the process are then paid by SuperRewards to the mobile game publishers like A Thinking Ape, East Side Games Studio, and Ninja Kiwi in exchange for the customers’ acquisition of virtual currencies.
Although somewhat similar in nature, in-game virtual currencies have striking differences from digital currencies like bitcoin in the aspect that the former can only be used in purchasing items or special offers within the game only, unlike the latter’s flexibility in going beyond the game per se.
“What I do see as being really interesting is the intersection between the mid-core and hardcore gaming market and how fast they’re adopting bitcoins,” said Avery, who hinted that their expansion in the mobile and social game markets may happen sooner than everyone else thinks.
With success in Bitcoin gambling already a reality, this digital currency is set to take control of the mobile and social games next.