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Lootboy and Signum Partner to Enable Crypto Payments and Worlds First Green Crypto Coin

Germany’s largest gaming start-up and the world’s first green blockchain Signum join hands to push the gaming industry towards more sustainable practices. Lootboy, a European gaming platform with over 10 million users, launches the world’s first green crypto coin Signa for its payments.

In a one-of-a-kind partnership, Lootboy and Signum have come together to enable a crypto payment system for gamers. Signum will handle all future crypto payments for Lootboy using Signa, as its native digital currency. A framework of payments, incentives and loyalty programmes will be rolled-out to a community of over 10 million users worldwide. As of today, gamers can now mine Signa and pay over the Phoenix Wallet, using any computer or android system.

Until now, the gaming industry has yet to step on a path to reduce its carbon footprint. Recent figures show that gaming produces large amounts of waste, ranging from plastic casings of consoles to mined-metal circuit boards. On top of that, the next generation games have huge power requirements and produce vast amounts of e-waste. In the US alone gaming platforms represent 34 terawatt-hours of energy consumption per year, equivalent to carbon dioxide emissions of over 5 million cars. If common blockchain technology and cryptocurrencies were to be used in the gaming sector, it would lead to an environmental nightmare. Lootboy, keen to step into the crypto space, but aware of the environmental costs that come with it, decided to turn a corner.

“As an innovator in the gaming industry, Lootboy wanted to do more in the space of crypto and blockchain, while moving away from energy-hungry technologies,” says André Kuschel, CEO of Lootboy. “Choosing Signum was the right way to go. Signum offers the same value as some of the bigger crypto players without the energy bill and the environmental harm attached to it.”

Barely three years old but with more than 10 million registered users, Lootboy is already one of the fastest growing European start-ups in the space of e-commerce and gaming. As they prepare to scale up globally, Lootboy was looking for a powerful but green solution for its new crypto-enabled payment service. The partnership between Lootboy and Signum, seemed the most natural thing to do. As a cutting-edge blockchain that powers the green cryptocoin Signa, Signum’s innovative blockchain has an energy consumption that is only 0.002% or less of bitcoin, while not producing any additional e-waste.

“Signum is a true pioneer in terms of combining innovative blockchain solutions at minimum environmental costs. One of these innovations is a payment solution which can be adapted by any business with very little effort. Looking at the market today, we can say that there is no other blockchain, that can do this like Signum.” says Kuschel.

As many gamers come from a generation that may end up paying the bill for climate disasters, Lootboy is certain that their users will recognize that working with Signum is a step in the right direction. According to Benjamin Schroeter, Chairman of the Signum Network Association, “sustainability is important to most, but especially to the younger generation. Embracing sustainability as a core principle creates a lot of value for stakeholders. Signum has only recently become more known in the blockchain space, but many experts believe Signa to be the most undervalued coin today. The partnership with Lootboy is a big step towards getting that attention and awareness both Signum and Signa deserve.”

Lootboy will roll-out its Signa payment system in a step-by-step process. As André explains, “we are tackling this strategically and are deliberately introducing this process slowly to more and more users. We also plan to use Signa to encourage loyalty and drive participation.”

Lootboy will use Signum to develop a framework of payments, incentivization, and loyalty programmes in the most sustainable way – and plans to open this solution to more players in the gaming industry later on.

The partnership between Signum and Lootboy is one of a kind for the gaming industry. It will hopefully reframe the industry and encourage more players to rethink how blockchains can be used in a sustainable way.

Author

  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.

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