Portal, a unified blockchain gaming platform, has launched its PortalPay service, aiming to become the “Stripe of crypto” by reducing barriers for players entering the blockchain gaming space. PortalPay provides an interoperability solution that allows users to pay for and cash out in-game assets using any of the 5,000 supported digital assets.

Typically, to access the on-chain features of a blockchain game, users must connect a MetaMask wallet or another service that enables interaction with decentralized applications and the purchase of necessary assets or non-fungible tokens (NFTs). Many gaming tokens are also blockchain-specific and have not yet migrated to other chains.

In an interview with Cointelegraph, Ezra Strauss, the head of partnerships at Portal, emphasized the issue of ecosystem fragmentation in blockchain gaming:

“I think the big problems that we’ve seen are that there are all these different chains, different wallets, and sort of like separate ecosystems that have sprung up. Users, tokens, and assets are stuck in all these different pockets of the Web3 ecosystem. It makes new user adoption very difficult.”

Currently, Web3 gamers can bridge or convert digital assets to the required currency to play a particular game, but the network costs of bridging and converting can be prohibitive.

Benefits to Users and Developers

In addition to increasing user adoption, PortalPay alleviates the burden of providing on-chain solutions, allowing developers to focus on creating blockchain games that emphasize gameplay quality rather than on-chain commerce.

Moreover, Portal aims to enhance user retention by abstracting the technical aspects of Web3 onboarding and providing a streamlined user interface. “The level of value that we create are the things that make it so that you don’t have to think about the infrastructure level,” Strauss told Cointelegraph.

Some of the problems posed by a fragmented gaming ecosystem. Source: Portal

The State of Blockchain Gaming

Despite growth, blockchain gaming is still far from mainstream adoption. A recent survey from OnePoll found that 52% of the 2,000 adults surveyed were completely unaware of the Web3 gaming sector. An additional 32% indicated they knew what blockchain games were but had never played one.

Regulatory challenges are also a concern, with the financial aspect of gaming tokens under scrutiny by financial regulators. In September 2023, the developers of Shrapnel announced that players in the United States would not be able to cash out of the game due to fear of regulatory reprisals from the Securities and Exchange Commission.

Officials in Uzbekistan took a similar stance towards the popular Hamster Kombat game on The Open Network. They explained that while the country would not ban the game, they warned users against withdrawing and trading the in-game currency.

Source: Cointelegraph