There is no doubt that the combination of finance and technology has been a groundbreaking innovation. This has seen the global FinTech industry rise to generate massive revenues per annum and play a key role in many other sectors. While it originally emerged to provide high-tech payment solutions to large banking establishments, FinTech and its products now have a far wider scope.
A classic example is the online gaming industry. This is a sector which has enjoyed a dizzying rise to prominence over the last few years. While online video games are a big part of this, online casino gaming is also massive. Resorts Casino is one of the top NJ online casinos and shows just why iGaming is so big globally. It not only comes with excellent customer support and cool bonuses but a wide choice of games to enjoy as well.
The rise of online gaming though could not have happened without FinTech’s help – but why is this true?
Payment options FinTech provides are crucial
Whatever type of online game you like to play, it can sometimes involve making an online payment. This could be depositing money into your online casino account or making an in-game purchase on your favorite online video game. These payments are central to how online gaming works and also how appealing playing this way is to people.
FinTech has come in very useful here because it has enabled online casinos and online video games to deliver fast, secure and easy to use payment solutions to players. Most FinTech payment solutions, for example, are based on Blockchain tech, which is very secure and trusted by people globally. By using FinTech to facilitate player payments, online gaming has been able to attract more gamers and grow overall.
NFTs and crypto also key
Of course, you also must look not just at FinTech payment solutions that use Blockchain tech in online gaming. Cryptocurrencies which are based on the same technology are also important to online play and its rising stock. Coins like Bitcoin are secure and offer enhanced privacy plus low transaction fees. This has caused online casinos to start to accept crypto coins as a valid payment method and to attract a whole new audience of crypto fans as a result.
A more recent development which blends finance and tech are NFTs. These special digital only tokens are already making their way into games. We could soon see them in more online games moving ahead. With so many people keen to get involved with NFTs and the extra interest they could bring to online gameplay, NFTs may help the industry grow even more.
FinTech and online gaming are a good match
When you are enjoying an online gaming session, you don’t want to have to pause to find card details or bank account numbers when you need to make an online payment. This is where FinTech comes into play and why it has become so important to online gaming’s rise in recent years.
