On the Bling mobile games platform, users earn small amounts of bitcoin from gaming and Coinbase will serve as a cashout means for users owning to this partnership.
Bling, a mobile game platform that allows users to earn bitcoin (BTC, -0.23 % ), revealed on Friday that it had completed a seed fundraising round with Coinbase Ventures.
Bling’s platform presently contains six games and a software development kit (SDK) that it will start distributing to other mobile game developers, which includes a bitcoin rewards system, fraud prevention, and user value identification.
Bling’s bitcoin rewards system leverages Coinbase as a cash-out method, and customers must first open a Coinbase wallet in order to get bitcoin incentives.
Bling’s co-founder and CEO, Amy Wan, told CoinDesk that the strategic investment from Coinbase Ventures was more about formalizing the agreement and guaranteeing a “open channel of communication” between the two companies than about money.
Coinbase Ventures’ investment in Bling’s seed round is part of a rising trend of funding firms with a crypto-curious but not yet crypto-savvy user base.
Newcomers to the space are a hot commodity as crypto exchanges compete for market shares, also because Coinbase makes the majority of its money from relatively high trading fees, it needs to win the allegiance of new users in order to keep shareholders happy.
Bling plans to use the funds raised in the seed round to expand its workforce and create more games.
