NEWPORT BEACH, CA – August 27, 2019 – There are about three billion gamers in the world today and many of them would rather play games than save toward their future—Now they can do both. Blast, a new Game-Based Savings™ company, led by founder and CEO Walter Cruttenden, is merging savings and gaming to put some fun into building a financial future. Cruttenden, who also co-founded Acorns, the number one micro-investing app in the country with over five million customers, sees Blast as a way to bring a better financial future to a younger and wider audience.
“There is a savings and investment problem in America. About 40% of the population can’t cover a $400 emergency expense without borrowing or selling something. This is the reason we founded Acorns: to help people easily save and invest,” said Cruttenden. “But some people are scared of the stock market or find it boring to put money away for a rainy day, so we thought of merging gaming and savings, and Blast was born.”
Created by gamers for gamers, Blast was founded on the belief that by linking gaming and finance together, people can more easily gain a financial footing. Blast works in the background, so game sessions are never interrupted, and money is kept in an FDIC insured account with bank-level security and 256-bit encryption to keep data secure and private. Game-Based Savings™ (GBS) combined with micro-earning features provide gamers with the ability to save and earn by doing nothing more than just playing their favorite games.
With Blast, the path to creating and growing a savings account has been simplified and made accessible for the casual to the most hardcore gamer. When gamers download the app, they are automatically set up with a savings account that currently accrues 2% APY interest. As they play games on their phone or PC, money is transferred from their checking account into a Blast savings account based on in-game achievements using the GBS feature. As an added incentive to save, Blast helps gamers reach their savings goals with an additional financial boost by micro-earning small amounts for trying new games and completing specific in-game tasks.
In addition to having fun while saving, Blast partners with a variety of game publishers to provide a varied gaming experience for all people. Whether you game for leisure or enjoy a challenge, Blast believes that gaming is a powerful tool to not only promote financial wellness but also can serve as an educational tool. Many games teach soft skills, like games centered around improving vocabulary and spelling.
Blast currently partners with behavioral economist, Dr. Shlomo Benartzi of UCLA. His research proves that bad behaviors, like a lack of actively saving, are hard to change. As a result, the company focuses on connecting the things we need to do with the things we want to do. “Dr. Benartzi helped us realize that if we can take a boring thing like saving, or learning new skills, and make it more frequent, by attaching it to an already fun habit, we can make a better world,” Cruttenden said.
Benefits of the Blast app include:
- Game-Based Savings™: A savings feature that allows a gamer to easily save their own money from a personal bank account into their free Blast savings account as they play games on their phones or PC. Blast savings accounts accrue 2% APY interest.
- Goal Assistance with Savings Boost: Blast helps gamers reach their financial goals through accumulating points, which are convertible to cash and earned by playing mobile and PC games (look for it this fall). These amounts provide gamers seed money to add to their Blast savings accounts.
- Large Selection of Popular Games: Top game companies in the world offer their wares on Blast’s platform, including Kolbri’s Idle Miner Tycoon, and Kabam’s Marvel Contest of Champions. New games are regularly added to the platform, typically on a weekly basis.
- Learn Skills: Most of the games in the app currently teach soft skills like time management, word mastery or resource allocation. Blast is actively seeking new games that teach skills in the science, engineering, art, math or coding skills fields.
Blast has gained traction within the gaming community on a single platform, Android, and the company plans to come out with iOS and PC versions of the app later this year.
Please visit Blast’s website, (https://blast.com/), or the Google Play store, (https://play.google.com/store/apps/details?id=com.blast.blast&hl=en_US), to learn more about the Blast app and to get started with your own gamified savings experience.
Blast is an early-stage technology company focused on the intersection of Fintech and gaming with an increasing emphasis on learning games. The company’s goal is to improve outcomes for gamers, game companies, and the financial services industry by gamifying financial processes and bringing Fintech pipes to the gaming and education worlds. Founded by the team that founded Acorns, the leading micro-investing app, Blast’s goal is to improve the financial health of the world’s billions of gamers.