SphereOne and Rarible have teamed up to collaborate with each other on Web3 gaming and crypto payments.
Austin, Texas-based SphereOne is a provider of identity and payment solutions while Rarible is a non-fungible token (NFT) company specializing in marketplace solutions and infrastructure.
This collaboration seeks to leverage crypto payment technology and application programming interfaces (APIs) to drive innovation and foster a new era of growth within the sector.
Chris Ries, cofounder of SphereOne, said in a statement, “SphereOne is proud to join forces with Rarible in this exciting endeavor. By combining our crypto payment solutions with Rarible’s Protocol, we aim to unlock a new era of innovation and growth in the web3 gaming space.”
GamesBeat Summit Call for Speakers
We’re thrilled to open our call for speakers to our flagship event, GamesBeat Summit 2024 hosted in Los Angeles, where we will explore the theme of “Resilience and Adaption”.
Apply to speak here
Asked why this is important for games, SphereOne said it is important because up until now the conversion pipeline has been “abysmal” for games with blockchain elements.
In turn, that makes it hard for people to make it far enough in their user journey to play the game — much less, make a purchase.
This has primarily been driven by the complexity of using Web3 tooling. The SphereOne and Rarible partnership opens up a world where Web3 infrastructure is completely invisible for complex multichain deployments (i.e. games with blockchain elements on different blockchain standards – Ethereum vs Solana).
As an example, gamers will be able to login to play Web3 games on any platform with an email address. Players of games with blockchain elements can use multiple token balances from the various games they play to purchase in-game items across different blockchains in a single transaction. And games can leverage a secondary marketplace that is customizable and multichain.
The partners will integrate the Rarible protocol into SphereOne’s framework. RaribleX, which is Rarible’s white label marketplace service, will be enhanced with SphereOne’s industry-leading multichain wallet and checkout experience. This integration will provide RaribleX clients access to a range of new services offered by SphereOne, creating a mutually beneficial ecosystem.
By incorporating Rarible’s Protocol, SphereOne aims to simplify access to a diverse array of digital assets across multiple blockchains. This evolution is expected to empower SphereOne-driven games with advanced payment processing, interoperability, cross IP activations, and more.
Alexei Falin, CEO of Rarible, said in a statement, “Through our partnership with SphereOne, Rarible is charting the future of web3 gaming. Our collaboration leverages SphereOne’s seamless payment tech with Rarible’s NFT protocol, enhancing the gaming experience with improved accessibility and asset interoperability. We’re excited to push the boundaries together and deliver tangible innovations to the web3 space.”
The synergy between SphereOne and Rarible is underscored by the unique advantages each company brings to the partnership. SphereOne offers user-friendly and easily integratable solutions, including credit/debit card purchases, “split-payments” allowing users to transact with multiple cryptocurrencies, and a universal wallet facilitating in-game item purchases across different blockchains.
Rarible plans to leverage these features in white label marketplaces for both Web2 and Web3 brands, particularly focusing on the upcoming NFT cycle in various sectors, with gaming at the forefront.
Vision for the future
SphereOne envisions a future where Rarible technology enables seamless intellectual property usage across various gaming titles.
Traditional gaming often faces limitations in intellectual property sharing due to a closed-loop environment. By contrast, Web3 studios, powered by blockchain, provide numerous benefits, including simplified asset storage and cross-IP activations.
VentureBeat’s mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.