GameStop’s New Cryptocurrency Wallet: A Look at GameStop’s Latest Initiatives
2022-10-29
Continuing its push into the digital space, video game retailer GameStop has rolled out a cryptocurrency wallet for users to manage digital assets. Called the Pachagee Digital Wallet, it enables customers to access their digital wallets and purchase cryptocurrencies directly from the app. The release of the wallet follows Gamestop’s announcement of its partnership with blockchain startup Unifyd to launch its new loyalty platform, which will allow gamers to earn points in exchange for virtual goods. In a bid to attract more consumers who are interested in buying cryptocurrencies, GameStop is offering discounts on games that support its wallet app. In addition to this, there will be regular promotions on different games depending on availability and market demand for said titles. This move by GameStop comes at a time when other retailers such as Best Buy also have plans to introduce crypto payment options through partnership with crypto exchanges like Coinbase or Microsoft. Other popular gaming chains such as Electronic Arts (EA) have already released their own virtual currency for players who play their games via Origin and Xbox Live network.
GameStop’s New Cryptocurrency Wallet: A Look at the App
The new GameStop cryptocurrency wallet is available in the iOS app store. The wallet is powered by blockchain technology, which allows the company to process transactions faster and more efficiently. The wallet currently supports four coins: bitcoin cash, bitcoin core, ether, and litecoin. Users can purchase coins from inside the app, and the funds will be available on their digital wallet immediately. This Instant Buy function is similar to how some online retailers accept bitcoin as payment for products. The wallet app is also a way for GameStop to attract new customers to its stores, as more people are becoming interested in buying cryptocurrencies. However, the company will also accept fiat payments for cryptocurrency purchases, in case customers prefer to use USD or other local fiat currencies.
GameStop’s New Loyalty Program
GameStop’s newly launched loyalty program, “Vault members earn points on everything they buy inside GameStop or anywhere else they shop using their Unifyd card,” according to a press release. “The more they shop, the more they earn.” After three months of the release, it has received mixed reviews and comments from the public. Some users have praised the program for its convenience and ease of use, while there are others who criticize the program for its high primary membership fees and high-interest card rates. There’s also the issue of card activation, where users may have to visit a physical store and activate their cards before they can start earning points. So far, the program can only be used at GameStop stores but will be expanded to other retailers in the future. The company also plans to expand the rewards program to digital assets such as Xbox games and other digital assets.
GameStop’s Partnership with Unifyd
GameStop has partnered with blockchain startup Unifyd to help customers manage their gaming assets. The partnership will enable users to manage their gaming assets using Unifyd’s blockchain platform. Users will be able to log into the wallet and manage their assets, including their gaming points, in one location. GameStop will also be providing a new option for customers to trade their gaming points for other digital assets like cryptocurrencies. It has partnered with Unifyd as a way to help unify its customer base by bringing its rewards program on board. GameStop has a long history of offering rewards to customers. It was the first to offer points for buying video games, the first to offer “double points” for referrals, and the first to offer free games for e-mailing friends. The company also has a long history of providing discounts on new games, including including some games that were only offered for a limited time.
The Future of Gaming: eSports and Virtual Reality
GameStop has been trying to find ways to stay relevant to consumers and maintain its customer base as the gaming industry grows. It has been making more efforts to focus on virtual reality (VR) games, offering discounts and even selling VR headsets and accessories. GameStop has also been trying to find new ways to attract customers, offering discounts on video games and even offering discounts on car purchases. However, the company is hoping to increase its customer base with the introduction of its new loyalty program, Vault, and its new cryptocurrency wallet. GameStop has also been making efforts to expand into the eSports industry. In late 2017, it partnered with Twitch to offer competitive gaming subscriptions and some in-store tournaments. Later, it partnered with Epic Games, the creator of Fortnite, to offer in-game rewards for watching and streaming Epic Games content. The video game industry is growing rapidly and attracting more customers, especially millennials and Generation Z. With better technology, the industry is expected to generate more revenue than ever before, reaching a total revenue of $120 billion in 2019. With the new technology and the growing interest in gaming, it’s no wonder why GameStop is trying to stay relevant in the industry. The company will continue to focus on providing better customer services, expanding its gaming platform, and creating new partnerships that will help grow its brand and boost sales.
