The founder of Razer Inc., Min-Liang Tan, tweeted that his firm is considering using crypto as a payment method. What’s more, Min-Liang said this could cover several cryptocurrencies, not just Nano.
Accepting crypto as a payment method (not just Nano) is something we’re considering.
— Min-Liang Tan (@minliangtan) July 11, 2021
Razer is already in the crypto space
Razer Inc. is a high-end computing manufacturer best known for its gaming laptops and desktops that utilize top-spec graphics cards.
The firm is no stranger to cryptocurrency; it has launched a crypto mining program several years ago. Users can divert idle computing power to mine crypto through the program in exchange for “Silver” loyalty points.
Razer Silver holders can redeem their loyalty points for computer peripherals and games. This loyalty scheme may also offer an additional avenue for crypto integration aside from direct website purchases.
“The loyalty rewards credits backed by Razer. Earn Silver when you Pay with Razer or engage in software and services from Razer and our Partners.”
The mining program was run in conjunction with a third party called GammaNow. As neither Razer, who receive a fee, nor the users who signed up, earn any of the mined cryptos, some doubted whether the program would last.
Details on the crypto mined by GammaNow through the program are not readily available. But three years on, and it’s still running, which would imply that the program has sufficient takeup to remain profitable.
Razer ready to take things to the next level
Last month, Min-Liang revealed that Razer shareholders had asked him about its crypto plans during its latest AGM. He said Razer customers are interested in crypto, but, at the same time, he also raised the issue of the environmental impact of GPU mining.
Nonetheless, Min-Liang said crypto is a topic Razer was “exploring.” What that means exactly is wide open to interpretation.
“Had our AGM today and one of the shareholders asked during the Q&A if we had plans in the crypto space. My answer: Our user base is interested in crypto – but we’re concerned on the impact it has on GPUs and the environment. But it’s definitely something we’re exploring right now.”
Although Min-Liang ruled out a Razer cryptocurrency, he did hint that the firm’s foray into the crypto could take the form of accepting it as a payment method for hardware and services.
This reply was followed by multiple shillers citing the benefits of Nano as a suitable crypto payment token. Nano transactions reach finality in less than a second, and because stakeholders receive no compensation, there are no transaction fees.
When pushed for confirmation about Nano, Min-Liang responded by reiterating the consideration of crypto as a payment method, not just Nano.
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