Stellar Lumens: Litemint takes over Stellarport and brings gaming to the XLM blockchain

  • The blockchain games platform Litemint has announced that it will acquire Stellarport.
  • The partnership is intended to bridge the gap between the gaming and cryptocurrency industry.

The crypto gaming platform Litemint has announced the acquisition of Stellarport, the gateway to the Stellar Decentralized Exchange. The announcement follows an agreement reached in December 2019 that the two companies agreed to work together to bridge the gap between the gaming and cryptocurrency industry.

The total revenue of the gaming industry is estimated at more than $70 billion USD. In addition, the market has great potential for growth. Collectors’ items and non-fungible assets are to be made accessible for the games by using the blockchain. The new cooperation is entering exactly this niche and wants to advance the adaptation of XLM.

Litemint has more than 36,000 users and offers various games and a wallet to collect tokenized items. The platform also allows users to exchange these collectibles in stores for cash or other rewards. All trading pairs on the Stellar DEX are also available on the Litemint platform. Stellarport has a user base of 100,000 users and has direct access to Stellar DEX. It also offers a wallet that supports various cryptocurrencies.

Improved service through collaboration

This collaboration will bring together cryptocurrency users and players to take advantage of the tremendous opportunities that tradable tokenized assets offer for both platforms. With the combined services, Litemint users will be able to access both Stellarport’s chat function and the wallet. The game features on Litemint can also be used by Stellarport users.

The founders of the two platforms, Ishai Strauss and Fredric Rezeau, expressed their confidence that the cooperation will lead to an improved service for the joint customers:

Stellarport is an asset that immediately presents strong operating synergy with Litemint. The interaction between crypto users and gamers creates huge opportunities with tradable assets and brings unmatched dynamism to both platforms.

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Stellar Lumens is one of the largest cryptocurrencies in the world, offering fast payments at low cost. It is one of the fastest networks for cross-border payments and is often seen in competition with Ripple. Recently, the community discussed whether IBM should use Ripple instead of Stellar Lumens for its payment service “World Wire”. However, this was never officially confirmed and therefore remains a rumour for the time being.

The upcoming collaboration will allow users to access the Stellar Lumens blockchain directly via the DEX, thus significantly advancing the adaptation of XLM. The founders stated:

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We strongly believe that with such acquisition we are witnessing the birth of a powerful aggregate, fully geared for mass adoption, in the Stellar ecosystem.

Can the price of XLM benefit from the collaboration?

The price of XLM traded at $0.049 at the time of writing and has increased by 6.37% in the last 24 hours. It remains to be seen whether the price can benefit from this partnership in the long term.

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Please follow me on Twitter for deep analysis. Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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