Bitsave and Shrapnel Partner to Streamline Financial Operations

03/21/2023 22:18 • Crypto & Markets • 66 views

It is reported that Bitsave, a digital asset financing platform, has announced a partnership with the 3A level Web3 game studio Shrapnel to help simplify its financial operations. Bitsave helps Shrpnel establish a sustainable GAAP accounting process, reducing manual data entry, and reducing the risk of errors.

Web3 gaming studio Shrapnel selects Bitsave to simplify its cryptocurrency accounting business

Introduction

Bitsave has recently announced its partnership with the Web3 game studio Shrapnel to help streamline its financial operations. This partnership will enable the game studio to establish a sustainable GAAP accounting process, reducing manual data entry and mitigating the risks of errors. In this article, we will explore the benefits of this partnership, what it means for the gaming industry, and how it relates to the broader trend of digitization in finance.

The Background of Bitsave and Shrapnel

Founded in 2015, Bitsave is a digital asset financing platform that helps small-to-medium enterprises (SMEs) and individuals access financing by using their digital assets as collateral. The platform serves as a bridge between traditional finance and the digital asset economy.
Shrapnel, on the other hand, is a leading Web3 game studio that creates blockchain-based games. Its flagship game, Forgotten Artifacts, is a popular blockchain-based role-playing game (RPG) that runs on Ethereum.

How Will the Partnership Help Shrapnel?

Shrapnel will greatly benefit from this partnership with Bitsave. With the help of Bitsave’s financial expertise and digital asset financing platform, Shrapnel can now establish a sustainable GAAP accounting process. This will be particularly beneficial to the game studio since it has to deal with numerous transactions and payments daily.
By reducing manual data entry and mitigating the risks of errors, Shrapnel can now focus on what it does best – creating blockchain-based games. Thanks to the partnership, the game studio can now allocate more resources towards game development and marketing, which will ultimately benefit its customers.

What Does the Partnership Mean for the Gaming Industry?

The partnership between Bitsave and Shrapnel is both significant and timely. Blockchain-based games are on the rise, and so is the need for reliable and secure financial infrastructure to support them. With its digital asset financing platform, Bitsave can help bridge the gap between traditional finance and the gaming industry. This partnership could pave the way for similar collaborations, potentially leading to a more sustainable and lucrative gaming industry.

How Does It Relate to the Broader Trend of Digitization in Finance?

The partnership is also a testament to the accelerating trend of digitization in finance. As more companies and industries embrace blockchain technology and digitization, the need for secure and reliable financial infrastructure increases. Bitsave, with its digital asset financing platform, is one of the pioneers of this trend, and the partnership with Shrapnel is a prime example of how digitization can benefit different industries and sectors.

Conclusion

The partnership between Bitsave and Shrapnel is a significant milestone in the gaming industry and the broader trend of digitization in finance. The partnership will enable Shrapnel to establish a sustainable GAAP accounting process, reduce manual data entry, and improve accuracy, while Bitsave can continue to bridge the gap between traditional finance and the digital asset economy. It’s exciting to see how this partnership will impact the gaming industry and digitization as a whole.

FAQs

Q1: What is a GAAP accounting process?

A: GAAP stands for Generally Accepted Accounting Principles. A GAAP accounting process is a set of accounting rules and principles that companies use to prepare and present their financial statements.

Q2: What is digitization in finance?

A: Digitization in finance refers to the transformation of financial services and processes using digital technologies such as blockchain, artificial intelligence, and machine learning.

Q3: What is a digital asset financing platform?

A: A digital asset financing platform is a platform that enables individuals and businesses to use their digital assets as collateral for financing. This type of platform bridges the gap between traditional finance and the digital asset economy.

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