Sep 27, 2021

MoonPay partners with Blocto to create industry first wallet

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Blockchain
Cryptocurrency
3 min
The MoonPay Blocto collaboration will create the first crypto wallet with a fiat on-ramp into the Flow ecosystem

The Miami-based cryptocurrency trading fintech, MoonPay, has partnered with the Taiwanese blockchain cryptowallet provider, Blocto.

The move looks set to create an industry-first wallet with a fiat on-ramp into the Flow ecosystem and will boost services within the non-fungible tokens (NFT) marketplace.

According to reports, the collaboration will provide easy access to the NFT space for online role-playing game Chainmonsters, including the recent exclusive NFTs in its successful Genesis Drop on September 14th. 

MoonPay, which launched in 2019, specialises in increasing cryptocurrency adoption. Founded by Ivan Soto-Wright and Victor Faramond, the fintech offers a user-friendly, secure software solution that enables global users to manage their cryptocurrency trading and investments.

MoonPay’s unique fiat on-and-off-ramp capabilities democratize blockchain access by enabling users to participate directly through traditional fiat payment methods. This collaboration will ensure all gamers have access to Chainmonsters and can enter the marketplace if they use the Blocto wallet. Through integration with MoonPay, users can use the fiat on-ramp to buy FUSD, Flow’s native token.

Cryptocurrency and gamification

One of the most popular games on Flow’s ecosystem is Chainmonsters, an online multiplayer game with >52,000 users inspired by classics such as Pokemon and The Legend of Zelda. Users can connect their Blocto wallet to their Chainmonsters account to have full access to its NFT marketplace. 

Blocto’s integration with MoonPay means it will be the first crypto wallet in the Flow ecosystem to have a full on-ramp capability. As such, users will be able to use methods such as debit cards or Apple Pay to convert their US dollars into FUSD when making purchases.

MoonPay’s fiat on-ramp has already supported Chainmonsters’s Genesis Drop on September 14 which saw all bundles sold out within 90 minutes. This included exclusive bundles that contained Chainmonsters’ unlocked first Beta Season Pass, with 25 Beta-Season-1 exclusive NFTs and highly exclusive collectibles like the Amber Chainmon that only exist 1,000 times and will never be obtainable again.

Speaking about the new collaboration, Ivan Soto-Wright explained, “Our mission at MoonPay has always been to make fiat-to-crypto transactions as simple as possible. The blockchain industry continues to take massive leaps into the mainstream. As blockchain-based games such as Chainmonsters become increasingly popular,  we’re excited to be partnering with Blocto to offer a new and easy experience for fuelling blockchain games.”  

Blockchain adoption on the increase

Blocto, which launched in August 2019,  is a cross-chain, integrated smart contract wallet service designed for both developers and users. Developers and users use the platform to frictionlessly interact with their NFTs, crypto assets, and blockchain decentralised applications (dApps) within the mobile app.

Hsuan Lee, CEO of Blocto said the companies aim is to increase the global usage of blockchain technology. “The key to ensuring blockchain’s mainstream’s adoption is a two-part process: creating exciting DApps such as Chainmonsters, but then also making sure they are easily accessible. After recently debuting our first NFT at The First Mint in July, we’ve had an influx of close to 90,000 users, all of which are excited to participate in impressive new projects.”

He added, “We’re pleased we can collaborate with a like-minded partner like MoonPay to offer them, and existing users,  a new and easy experience for blockchain games.”

Main image: Ivan Soto-Wright

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