Fans will now be able to purchase Fortnite merchandise using Monero Cryptocurrency. Bitcoin payments are yet to be facilitated, reports claiming this is because of privacy concerns.
Fortnite Accepting Payment In Monero
Although Fortnite has not come out to officially make the statement, news of the new payment option was made public on Reddit. Shared on the 1st of January, the news received positive feedback from Crypto enthusiasts on the platform. Monero enthusiasts enthused that Fortnite accepting crypto is an indication that Cryptocurrency is being more widely accepted and adopted.
Fortnite boasts of over two hundred million users across the globe, and is currently the most popular video game. So successful is the game that a recent American teen poll showed that most teenagers preferred to get gifts in Cryptocurrency and Fortnite’s in-game virtual currency, V-bucks over any othe gift option.
Riccardo Spagni, a Monero developer, broke the news on Twitter saying that the Fortrchandise store will be accepting Monero as a payment option. Many commenting on the post questioned why the merchandise would accept Monero and not support payment in Bitcoin, which is the largest Crypto by market cap in the market.
The Lightning Network Sparks Fortnite’s Interest
Riccardo Spagni also posted about Fortnite’s opinion on facilitating Bitcoin payment saying that the gaming giant was cautious about the security issues that come with Bitcoin. Spagni claimed that Fortnite was uneasy about Bitcoin payments citing lack of privacy as the main reason why the Merchandise store is not facilitating Bitcoin payments.
The developer said that the gaming giant seemed interested in the Lighting Network and is considering adding it onto its platform, a move that Monero is pushing for. He added that though the gaming giant has several options available, Monero is currently the only Cryptocurrency it will be accepting.
Privacy has become one of the main issues concerning users and service providers. News of social media giants like Facebook misusing client information for profit gain has dented public trust in such corporate giants. So decimated is the confidence in Facebook, after news broke that it was selling user information to third parties, that it has even been a problem accessing quality talent pool for its Blockchain division.
Alex Heath, Cheddar reporter, has stated that the actions of corporate giants such as Facebook were the main reason new innovate technologies, especially Blockchain technology, were created.
US Government To Track Crypto Transactions
Virtual currencies like Monero and Zcash are the most preferred form of payment for many crypto users mainly because of the high level of security and anonymity that comes with using these currencies. This will however change if the statements made by the Homeland Security Department are anything to go by.
The Department of Homeland Security announced that it is in the process of developing a framework that will be able to track transactions completed in Monero and Zcash. The monitoring framework will be based on a Blockchain forensic analytics program. This is part of the government’s efforts to curb money-laundering, terror financing and tax evasion through Cryptocurrency.