Fortnite Starts Accepting Monero As Payment For Branded Merchandise January 2, 2019 January 2, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJanuary 2, 2019 by Kelly Cromley

Fortnite Starts Accepting Monero As Payment For Branded Merchandise

Retail Row, the merchandise shop for the online video game Fortnite, has begun accepting Monero (XMR) as a cryptocurrency payment option on an exclusive basis.

Fortnite, a popular video game developed by Epic Games, was launched in July 2017. It accounts for over 125 million players around the world. In October 2018, Epic Games was estimated to be worth over $15 billion in its most recent round of funding.

The announcement was made via Twitter by Monero’s founder, Riccardo Spagni, on 1 January. Payments carried out using Monero are processed using Globee, a crypto-payment processor that readily accepts several crypto currencies such as Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH), among others.

This will permit users from many several countries to pay using one of the most popular crypto currencies on the market. Inquisitive users who don’t play the game have decided to take Monero as a means of payment.

On Twitter, numerous people asked about the possibility of adding other cryptos. For instance, Matt Odell asked Globee why they did not support Bitcoin. The company also clarified that it does not accept Bitcoin, as it lacks privacy features. According to Spagni, the company is also interested in the Lightning Network (LN). He continued to explain that the reason they are interested in the Lightning Network is that it is possible to offer some ‘ privacy to Bitcoin.

The Lightning Network is a scaling solution for Bitcoin, which allows the popular crypto to process millions of transactions using a second layer solution. This means that payments can be processed off-chain and later included in the main chain.

There are several blockchain ventures that work with the gaming industry to increase blockchain and crypto adoption. For example, the Tron Foundation has launched the TRON Arcade, a $100 million game fund that intends to assist the blockchain industry grow side by side with the gaming industry.

Litecoin and TRON also plan to integrate privacy features. This could permit these assets to be accepted by Fortnite’s merchant store in the future. Nevertheless, Tron is closer to implementing these features than Litecoin.

Back in October, the cybersecurity firm Malwarebytes found that scammers were utilizing malware aimed at the Bitcoin (BTC) wallet addresses of Fortnite gamers. “Con artists” were supposedly sneaking malicious data theft code into downloads that apparently promised “free” season six Fortnite Android versions, including “bogus cheats, wallhacks and targetbots.”

Free V-Bucks (an in-game currency) also concealed malicious code packages, according to the investigation. Malwarebytes found that disappointing links were promoted via scammers’ YouTube channels, which redirected users to downloads that conceal the malware.

In June, Palo Alto Networks, a network and enterprise security company, found that about 5% of all XMRs in circulation were maliciously mined via cryptojacking. Monero allegedly had an “incredible monopoly” on malware-targeted cryptocurrencies, with a total of $175 million maliciously mined.

The report also notes that the data does not include web-based Monero miners or other miners they cannot access, which means that 5% is most likely too low for a calculation.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.