Gamers will be able to exchange in-game rewards for crypto or even fiat currency, thanks to a new feature being rolled out by Luxembourg’s digital asset exchange platform Blocktrade.
The Blocktrade Arcade feature, expected to be launched in December 2023, will function with the platform’s own games and those with which the firm signs revenue share agreements. “We just want the community to come to Blocktrade to play other games or to become our customer,” Blocktrade CEO Christian Niedermüller told Silicon Luxembourg, adding: “We will use the Blocktrade Arcade and the gaming for customer acquisition as well.”
The feature comes just months after the firm integrated responsible gamification into its user experience, rewarding users with discounts and other incentives whenever they engage with the platform.
The firm is also targeting Q4 2023/Q1 2024 to deploy its goal to become the first crypto exchange to tokenise its shareholder base. Working with another local digital assets player, Tokeny, Blocktrade will digitise its 5k+ shareholder base, a move that is expected to make shares easier to sell without a middleman.
The Blocktrade exchange was first launched in Liechtenstein in 2018 before it was established in Luxembourg in October 2020.
Niedermüller, who spent 15 years in traditional finance and private equity, and was innovation manager for Unicredit Group, took over as Blocktrade CEO in February 2022
Today, the grand duchy hosts the company’s exchange management, legal and financial activities, while the remainder of its operations are based in Estonia or remotely. In 2021, it raised €20m through a community fundraising round and in the first half of 2023 raised €5.6m by selling the platform’s BTEX tokens in three phases. Blocktrade plans to launch a new growth prospectus fundraising in November. In the coming year, it will also expand its precious metals digital asset category from gold to include silver and diamonds, among others.
