With stablecoin utilization persevering with to increase in all points of DeFi and conventional finance, it’s no shock that recreation firms are additionally trying to leverage this new fee primitive.
Examples embody
- Animoca Manufacturers, which is working with Customary Chartered financial institution and HKT to situation a Hong Kong‑greenback–backed coin,
- Playtron’s Recreation Greenback which is able to go reside on Sui, in addition to
- Philippine Peso–pegged stablecoin PHPC which has been reside on Ronin for a 12 months.
The most recent firm to be added to the checklist is Snail Inc.
The Nasdaq-floated firm has introduced that it’s exploring the feasibility of launching its personal proprietary stablecoin, which shall be US dollar-backed.
In fact, such an endeavor is advanced. Snail Inc. notes that really launching a stablecoin could be “subject to a range of factors, including but not limited to, regulatory approvals, market conditions, technical feasibility, cybersecurity safeguards, financial controls, and internal governance”.
Nonetheless, the profit could be Snail positioning itself “as an early mover within the digital entertainment industry”.
To assist its course of, the corporate has retained AscendEX’s CEO Dr. George Cao and authorized advisors, together with what it calls “a nationally recognized law firm serving cryptocurrency and blockchain clients”.
“While our focus continues to remain on gaming across our ARK franchise, indie titles, and other up-and-coming genres, this investigation into the crypto space and evaluation of the feasibility of launching our own stablecoin would mark a key step in advancing our vision of driving innovation across digital entertainment,” commented Snail Inc.’s co-CEO Hai Shi.
Based in China as Suzhou Snail Digital Expertise Co., Ltd., the corporate is greatest identified for MMORPGs reminiscent of Age of Wushu in addition to its possession of Ark: Survival Evolved outfit Studio Wildcard.
Snail Inc. is the general US-based holding firm, which owns the Chinese language operations in addition to globally-focused divisions reminiscent of Snail Games and Snail Cellular.
For the calendar 12 months 2024, its complete gross sales have been $85 million, with web earnings of $2 million.
