P2E game Bit Hotel explores e-Money’s suite of asset backed stablecoins
The events in the past week may have shaken the foundations of the crypto ecosystem, but have reaffirmed the industry’s belief to place their faith in financial products that are backed by robust solutions that are audited by renowned regulatory bodies.
e-Money, a European blockchain project built on Cosmos offers a strong alternative to dollar denominated stablecoins and continues to attract web 3.0 projects that are looking to deploy its range of products within their ecosystem.
As such, Bit Hotel, a P2E game that enables guests in a hotel to socialise, and compete with each other through a fun, gaming format is exploring a strategic partnership with e-Money.
Benefits of the partnership
In the Bit Hotel Metaverse, players can purchase different kinds of living spaces such as studios, penthouses and condos, and earn and trade furniture pieces as well as rare collectibles to decorate their space by partaking in various mini-games on different floors of the property. New features and updates are continuously being added to enhance the social aspect of the game as well as facilitate more opportunities for players to earn revenue through gaming.
e-Money’s offerings include fully compliant, asset-backed and interest bearing stablecoins such as EEUR, ECHF, ESEK, ENOK, and EDKK and integrating these solutions into BitHotel’s play-to-earn gaming platform offers an excellent opportunity for the P2E game to gain access to the European market, where users can invest with payment solutions that are backed by their own native currencies. This can play an crucial role in widening BitHotel’s user base and accelerating its popularity in a region that is vital to the growth of the crypto ecosystem.
About Bit Hotel
Bit Hotel is a Social-first Play 2 Earn NFT Gaming Metaverse, in which users can compete to earn Bit Hotel tokens and acquire native NFTs. These NFTs have in-game usability and consist of characters, hotel rooms, furniture and other assets that have their own perks. With over 400k Hotel Guests waiting to get playing, this nostalgic Hotel metaverse will soon take people back to their 8bit upbringing.
e-Money is a blockchain-based payment platform built by Danish fintech e-Money A/S, committed to bringing financial inclusion and helping people around the world to have easy access to digital currencies. Built on Cosmos technology, e-Money supports a range of fiat-stablecoins which are fully backed by bank deposits and government bonds that are also interest bearing. The fidelity and transparency of e-Money stablecoins will be ensured by Ernst & Young providing quarterly Proof of Funds.
e-Money currently supports several European currency-backed stablecoins such as the EEUR, the ECHF, and tokens backed by Scandinavian currencies (ENOK, EDKK, and ESEK). The e-Money ecosystem has a second token, the NGM “Next Generation money” which is a staking token and rewards token. Users can stake NGM to secure the e-Money network.
Unlike most existing stablecoins which aim to maintain a static 1:1 peg with their underlying assets, the value of e-Money’s currency-backed tokens continually shifts in line with the interest accrued on the reserve assets. This means that holders benefit from the interest accrued on their assets while they sit securely in your wallet. The e-Money blockchain supports instant payments at scale and includes a DEX for easy conversion between currencies. e-Money has already integrated with Cosmos Hub, Osmosis, and Ethereum and expects to integrate with all major networks moving forward.