Teens Want Crypto and Fornite V-Bucks Over Cash This Holiday Season
According to the recent “Holiday 2018” report by investment bank and asset management firm Piper Jaffray, teens are seeking the digital forms of money over cash, gift cards and gas money.
V-bucks, which Fortnite players can purchase by the thousand for $9.99, can be used to acquire game items like character skins, season passes and early access to the game’s single-player mode.
This news comes just weeks after North Carolina-based Epic Games, creator of Fortnite, raised $1.25 billion in a financing round that valued the company at nearly $15 billion, with participation from major investors including Kleiner Perkins and Lightspeed Venture Partners.
The funding round, which data shows is the second largest gaming investment in history, was largely fueled by the incredible successes of Fornite, which has brought in hundreds of millions of downloads and over $1 billion in revenue. In fact, Fornite became the second fastest iOS mobile game to reach $300 million in revenue, doing so in only 200 days.
This holiday season should be an interesting one for the gaming industry, as more and more money goes toward in-game microtransactions compared to years past. As for cryptocurrencies, the report indicates that teenagers are certainly looking to buy the latest dip.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.