Currency Types
Last updated
Last updated
Specter has designed its platform to offer comprehensive support for an array of currency systems. In this section, we discuss the three key types of currencies that Specter supports: Real, Virtual, and In-App Purchases (IAP). We will discuss the specific use cases and examples of gameplay for each type of currency.
Virtual currencies are completely digital assets used within the gaming environment. They can be earned and spent within the game to aid player progress or obtain in-game items. An example is the Gold Bars in Candy Crush, which players can use to gain advantages in the game.
In Specter, the virtual currency you create is managed through wallets in our backend. This setup ensures players can earn and spend these currencies smoothly during gameplay.
In-App Purchases (IAP) signify transactions conducted within the game using real-world money. These transactions typically occur through platforms like Apple's App Store or Google's Play Store, often to acquire virtual goods or benefits. For instance, in Clash of Clans, players can purchase gems to expedite building times or acquire powerful items.
While IAPs involve real-world currency, they are distinct from the 'Real' currency type as they specifically refer to transactions where players purchase in-game items or currency with actual money. Although the transaction process for IAPs is managed by the platform (like Google Play Store or Apple App Store), Specter's role comes into play post-transaction. We facilitate the successful delivery of the purchased item or currency to the player's in-game inventory or wallet, ensuring seamless and efficient management of these purchases within your game.
Real currencies are primarily utilised in Real Money Gaming (RMG), where in-game currency corresponds to real-world monetary values. This type of currency is common in games such as Daily Fantasy Sports (DFS) and Rummy, where players pay an entry fee with real money.
Managing real currencies requires a system that can handle complex financial regulations and transaction processes. To accommodate this, Specter sets up dedicated wallets for the efficient management of deposits, winnings, and bonuses, each operating under unique rules and restrictions. Further information about how the wallet system for Real Money Gaming works and what are the restrictions and rules for this currency type can be found in the section.