In a show of increasing cryptocurrency adoption, the Fortnite merchandise store now accepts Monero as a form of payment.
There’s no argument that Bitcoin and its virtual brethren are technologically groundbreaking. However, they need to achieve mainstream adoption in order to fully succeed. This is why it’s so important when a new store, company, or website begins accepting cryptocurrency as a form of payment. A big player has now embraced cryptocurrency – Fortnite.
Buy Fortnite Stuff with Monero
The merchandise store for Fortnite is now accepting Monero (XMR), the privacy-focused cryptocurrency, as a payment option. This means you can buy some t-shirts or pre-order the sweet Durrr Burger Onesie and pay with some crypto.
Gamers can pay with Monero via the GloBee payment platform. Overall, this appears to be the fruit of Project Coral Reef, an initiative to get Monero accepted by stores in greater numbers.
Is This Big News?
Some may argue that a single online game accepting crypto to buy merchandise is not a big deal. It is true that V-Bucks (the game’s cash shop currency) is still bought via traditional means, but the fact that Fortnite is accepting Monero for physical goods is actually major news.
The reason for this is the insane popularity that the game is enjoying. The game’s developer, Epic Games, made $3 billion in profit from Fortnite in 2018. This is from 200 million players battling one another in a free-to-play game.
To show how huge Fortnite has become, one of its most popular players, Ninja, made $10 million last year from streaming the game and sponsors. If you’re a young person, chances are you’re playing the game every day with your friends. If you’re a parent, you’re probably lamenting the fact that your children are addicted to playing it seven days a week.
Another important aspect is that Fortnite players, being younger, are going to be more comfortable dealing with cryptocurrencies. Every study done shows that older generations are leery of virtual currencies and put their faith in stocks and bonds, while younger generations are more willing to use the disruptive technology. While a lot of people look to institutional investors to bring the Bitcoin boom back, chances are that it is the current and following generations that will make cryptocurrencies an everyday means of transaction.
Do you play Fortnite? Let us know in the comments below.
Images courtesy of Fortnite and YouTube/@Fortnite.