Corporate Insights: “Nearly half of all Americans play video games, yet only a third have more than a thousand dollars saved for an emergency. A new fintech startup called Blast hopes to combine the increasingly popular pastime with saving for the future. Unlike other attempts to gamify savings that create entirely new experiences, Blast works alongside existing games with three ways for users to increase their balances when they play: automated micro-deposits, mission rewards and weekly prizes. By linking to games that people already enjoy, Blast avoids the difficult task of creating a hit game to reach a wide audience.
Much like Acorns—co-founded by Blast’s creator, Walter Cruttenden—and other micro-savings apps that make small automatic deposits to users’ savings, Blast automatically moves small amounts into savings whenever users accomplish in-game tasks. These “triggers” are user-controlled and available for popular online games like League of Legends and Counter Strike: Global Offensive. For example, users can choose to deposit $1.00 every time they win a match or $0.10 every time they defeat an enemy player. The linked savings account provided by Wells Fargo earns 1.00% APY, and Blast can withdraw funds from a linked checking or PayPal account.