FinTech News

Blast to Debut “Game-Based Savings” App for iOS at TwitchCon

These days there seems to be some big money in gaming. From Twitch streamers who can monetize with ads and sponsorships to tournaments where victors can take home massive purses, there are plenty of gamers who dream of hitting it rich. Unfortunately the majority will never reach such heights. However, with the app Blast, they can at least start using their gaming prowess to save money.

Blast is an automated savings app aimed at gamers and hopes to help them build a better financial future. The application comes from founder and CEO Walter Cruttenden, who is no stranger to the FinTech world having previously co-founded the micro-investment app Acorns. Currently Blast is available for Android but will roll out on iOS just in time for TwitchCon, which kicks off in San Diego on September 27th

The idea behind Blast is called “game-based savings.” This allows players to set aside money from a connected bank account to a free Blast account as they complete specific actions in select games. Impressively these savings will earn a 2% APY. The app will also allow gamers to set savings goals and track their progress as well as earn extra rewards via Goal Boosts.

In a press release announcing their iOS debut and TwitchCon appearance, Blast co-founder Cruttenden said, “There is a savings and investment problem in America, with about 40% of the population unable to cover a $400 emergency expense. Through the founding of Acorns, we made saving money easier and accessible for everyone, but saw that some people were still scared of the stock market or found it boring to put money away for a rainy day, so we thought of merging gaming and savings.” He continued, “Blast was born to help younger people develop better monetary behavior by simultaneously engaging in a frequent activity that they already enjoy.”

Something to note is that Blast isn’t the only app that looks to make saving money more fun for young adults and other consumers. For example Long Game allows users to set up automated transfers, rewarding them with coins that can then be used to play games of chance for extra funds. Of course Blast’s approach is quite different in that it’s the games that trigger the savings and not the other way around.

There’s no doubt that TwitchCon is the perfect venue for Blast to reach its target market and celebrate its iOs release. Moreover, given the popularity of online and mobile gaming, it seems the app should be a hit — and has apparently already gained traction with Android users. Hopefully this clever savings arrangement can succeed in getting a generation of gamers to better manage their money.

Other Articles by Jonathan Dyer