It’s no surprise that every generation will adopt a movement or a trend that their elder’s disapprove of, everything from music to fashion is on the table for derisiveness, the current trend being cryptocurrency. This has not stopped cryptocurrency from becoming a major player for christmas tree real estate this holiday season.
According to a recent Holiday 2018 report from Piper Jaffray, and investment and asset management firm, teenagers are moving away from cash gifts and instead hope that their presents hold V-bucks, the virtual currency used in the popular Battle Royale-style video game, Fortnite.
As gift cards and fiat currency are being replaced with digital assets, it marks a movement that while institutional investors are bickering over the intrinsic value of Bitcoin, Generation Y&Z already see cryptocurrency as a source of exchange. As the number of teens adopt cryptos and start entering the markets as they age, this can only lead to the proliferation of the market.
As Fortnite’s reaches into the pockets of gamers across the globe, they are tapping into a multi-billion dollar industry that has adopted a business model of microtransactions. With Fortnite’s V-Bucks payment system, they are helping to facilitate the transition from fiat to cryptocurrency for future generations. Currently, Fortnite offers players to purchase cosmetic add-on’s, known as skins ( it should be noted that these do not affect gameplay), and in March 2018, the company saw $223 million in gross revenue for that single month.
As of now, the exchange rate for V-bucks is set at $9.99 for 1,000 V-bucks. The game’s digital currency can be used to make microtransactions for different cosmetic outfits, if the player request a refund, they can only be transferred back into V-bucks, not fiat currency.