Kinguin has a pleasure to announce the cooperation with BitSkins, one of the largest virtual items platforms in the world. Kinguin is one of the first gaming marketplaces that are investing in the online microtransaction market at the large scale.
In-game microtransactions are the transactions in which consumers (gamers) exchange real-life currency for virtual items or virtual currency. The first microtransaction can be dated back to 2006 and it was related with The Elder Scrolls IV: Oblivion. Microtransactions help players to unlock specific features or enhance the special abilities, items or characters in the game. Currently the model is widely used by many game developers starting from free-to-play games, ending on AAA gaming products.
According to Mordor Intelligence, the global gaming market was valued at USD 162 billion in 2020 and is expected to reach a value of USD 295 billion by 2026. A significant part of that is related to online microtransactions, which according to The Business Research Company is expected to grow from $33 billion in 2019 to $42 billion by 2023.
Kinguin initiated direct cooperation with Bitskins in November 2020, being the first official distribution platform of BitSkins’ Gift Cards. “The partnership fits perfectly into Kinguin long-term vision of enhancing the in-game economy, as the diversification of our core business.” said Adam Gruda, Chief Revenue Officer at Kinguin.
“Working together with Kinguin is one step forward into granting easy access to all gamers to the world of virtual items and in-game customization, a big part of present games that allows each player to have a unique and personal experience.” – said Anna Zamorniak-Urbaniak, BitSkins CEO.
Kinguin is a global marketplace, established in 2013, mostly known for the digital trading platform http://www.Kinguin.net, with over 10 million registered users. The platform offers over 50,000 unique digital products, from video games to computer software and services. Kinguin is also one of the first large-scale supporters of the esports industry as a sponsor of tournaments, events and organizations.