Razer’s rewards program has announced a strategic partnership deal with Cake DeFi. The partnership will allow gamers and customers to redeem their points for tokens focused on decentralized finance (DeFi).
Razer partners with Cake DeFi
Razer, an IT and gaming hardware company, is set to allow gamers and customers to venture into decentralized finance. The company will work using a new rewards swap program alongside Cake DeFi.
Razer is one of the top gaming platforms globally. The Razer Gold rewards program allows gamers to earn and redeem Razer Silver Points. The rewards can be redeemed for hardware and digital rewards such as Steam games and discount vouchers.
Cake DeFi is working with the rewards program offered by Cake DeFi to allow customers to easily convert Razer silver points into vouchers that can be used on Cake DeFi. This will provide a bridge supporting the Razer loyalty program and bringing it into the cryptocurrency and DeFi sector.
Razer gamers will receive exclusive access to the yield-generating service offered by Cake DeFi as soon as the partnership is launched. The DeFi platform will also provide discounts and other rewards that will be granted as soon as the users sign up to the platform following this partnership.
Customers with 10,000 Razer Silver Points rewards will receive a voucher worth $5 from Cake DeFi. The vouchers can be automatically converted using the market value rate of DFI, the native token of the DeFiChain ecosystem. The tokens will be allocated to the Cake DeFi staking pool that will issue rewards every 12 hours to the DFI stakers.
Bringing gaming into DeFi
The gaming sector has been largely transformed by blockchain technology. Blockchain gaming platforms using play-to-earn models have recorded an upsurge of users because they allow the conversion of in-game tokens into real money.
The recent move by Razer marks an innovative way of bringing the gaming sector into the DeFi space. The Razer software platform has over 175 million users globally that use its application packages to manage and configure hardware and programs.
The company offers payment services targeting gamers, the youth, millennials and Gen Z. Cake DeFi, a company that operates in Singapore. It provides DeFi services and products to users focused on staking services for holders of cryptocurrencies. The platform has also offered staking rewards of $317 million since its launch earlier this year.
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Source: https://insidebitcoins.com/news/razer-brings-gaming-into-defi-after-a-partnership-with-cake-defi