CryptoKitties and NBA Top Shot’s Payment Partner Deletes Function

03/07/2023 05:22 • Metaverse Matters • 95 views

It is reported that the development team behind CryptoKitties and NBA Top Shot, Dapper Labs, said that because its payment partner Circle deleted the corresponding function, it no longer supports the ACH (automatic clearing center) cash withdrawal option, but will continue to support cash withdrawal through wire transfer and USDC.

Dapper Labs no longer supports ACH withdrawal, but still supports wire transfer and USDC

Analysis based on this information:

Dapper Labs, the development team behind popular blockchain-based games CryptoKitties and NBA Top Shot, announced that its payment partner, Circle, has deleted the ACH cash withdrawal function. As a result, Dapper Labs will no longer support this feature for players looking to withdraw cash. Instead, players can still withdraw via wire transfer and USDC.

The use of cryptocurrency and blockchain-based technology has been gaining traction in recent years, and the popularity of CryptoKitties and NBA Top Shot demonstrates just how much people are embracing the new technology. However, as with any new technology, there are certain limitations and obstacles that need to be overcome, such as the current issue faced by Dapper Labs with their payment partner.

The ACH cash withdrawal function previously allowed players of CryptoKitties and NBA Top Shot to withdraw their earnings in US dollars. However, since Circle has deleted this feature, players will need to use either wire transfer or USDC to withdraw their funds. While wire transfer remains a popular way to withdraw money, USDC may not be as familiar to all players. USDC is a stablecoin that is pegged to the US dollar, meaning its value stays consistent with the dollar for easier transactions.

One potential reason for Circle’s decision to remove the ACH cash withdrawal function is due to regulatory concerns around cryptocurrency. In the US, there are strict regulations around the use of cryptocurrency for transactions, and it’s possible that Circle saw the ACH function as crossing this line. While this may be frustrating for some players, it’s important to remember that Dapper Labs is doing its best to work within the current regulatory framework and ensure that its games remain accessible and fair to all.

In conclusion, while this news may be disappointing to some CryptoKitties and NBA Top Shot players, it’s important to recognize that regulatory concerns are a reality of working with new technologies like blockchain and cryptocurrency. Dapper Labs is doing its best to navigate these challenges and provide players with a stable and accessible way to earn money through its games.

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CryptoKitties and NBA Top Shot’s Payment Partner Deletes Function

Dapper Labs no longer supports ACH withdrawal, but still supports wire transfer and USDC

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