Fortnite Goes for Monero As Gen Z Opts for Gaming, Crypto and iPhones
Update: Epic Games CEO Tim Sweeney now says the inclusion of Monero as a payment option on the Fortnite merchandise store was an accident. You can check out his statement here.
Retail Row, the merchandise store for the popular video game Fortnite, says it will be accepting cryptocurrency payments in Monero.
Monero is the only crypto option.
Customers can still purchase goods using traditional methods such as Visa, Mastercard and PayPal. Even though Retail Row is powering crypto payments with GloBee, a crypto payments service that supports Bitcoin, Litecoin and XRP, the store doesn’t currently accept Bitcoin or any other crypto.
Too cool: the Fortnite merch store (https://t.co/KNL4IFCFHk) lets you pay in Monero, so now you can purchase that sweet Durrr Burger onesie without your friends / family / coworkers judging you. https://t.co/XYs1NjGvGp
— Riccardo Spagni (@fluffypony) January 1, 2019
The Piper Jaffray Taking Stock With Teens survey of more than 8,600 US teens revealed several preferences for Gen-Zers. They want crypto and V-Bucks, which is the digital currency used in Fortnite, more than they want cash or gift cards. It’s the same demographic that’s posting all over Instagram, which edged out Snapchat as the favorite social media platform, and the same group that is frequenting Facebook less.
These teens, who average 15.9 years old, are the number one group that will drive trends in discretionary spending in five to 10 years.
Monero’s inclusion as a payment option on the Fortnite online store gives the world’s 13th-largest crypto by market cap major street cred among teens. On the go with iPhones and Vans, teens pushed Vans to a new peak while, the poll reveals, 86% of Gen-Zers are opting for iPhones, which can run the mobile version of Fortnite at 60 frames per second, like their console equivalents.
Both gaming and cryptocurrencies continue to grow their markets together with a focus on cultivating a young, mobile audience.
Fortnite was released by Epic Games in July 2017, coinciding with last year’s launch and rapid rise of cryptocurrency exchange Binance.
Fortnite now has over 125 million players worldwide, and Epic Games is valued at over $15 billion, as of October 2018.