As the Metaverse continues to grow in popularity, cryptocurrency firms are increasingly becoming interested in this market.
Flexa, a crypto payment network backed by Gemini, has announced support for prominent Metaverse coin projects – Axie Infinity (AXS), Decentraland (MANA), The Sandbox (SAND), and Smooth Love Potion (SLP) – as it welcomes American game retailer GameStop to its network. The news was shared via their Twitter account.
Flexa adds metaverse coin projects
Flexa has recently re-added GameStop to its roster of supported merchants, and its ‘Spedn’ mobile application now allows for transactions using Bitcoin (BTC), Dogecoin (DOGE), and other cryptocurrencies at all GameStop locations across the United States.
Furthermore, Flexa has expanded its support to include prominent Metaverse coin projects, which have made headlines due to their significant gains. Earlier in the week, the company also started supporting key assets in the Non-Fungible Token (NFT) space.
Last week, Flexa integrated Shiba Inu (SHIBA), the second largest meme coin, thereby enhancing its adoption.
Since its inception in March 2019, Flexa has enabled users to utilize Bitcoin and various other cryptocurrencies for in-store purchases.
Its initial group of supported vendors included major names like Whole Foods and GameStop, though both had temporarily been removed from the Spedn app. Starbucks has also conducted trials using the app.
Significantly, Flexa serves as a conduit between merchants and cryptocurrency holders, ensuring that merchants receive cash payments instead of cryptocurrency.
To guarantee instant payments, Flexa uses AMP, an ERC-20 token, as collateral. In the event of a transaction failure, the staked AMP tokens are used to compensate the merchants for any losses.
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