Credit Card Payments: Onboarding Non-crypto Users

June 4, 2021

We’re very excited to announce that next Monday we will enable credit card payments to buy OVR Tokens. This new feature is the first important step in expanding OVR’s reach to the broader public. The feature aims to onboard users who are not familiar with the blockchain and the usage of Web3 interfaces such as Metamask.

Tokens bought with a credit card will be actually purchased by OVR (Company) on the IBCO bonding curve in 24 hours batches. Still, private keys will be managed directly from OVR, abstracting all of the complexity of blockchain interaction for non-crypto savvy users. Users who purchased with a credit card will also be able to transfer their tokens to an actual Ethereum wallet. OVR Tokens purchased with a credit card will have a 20% price premium to cover management and transaction costs.

OVR Tokens purchased with a credit card will be available to users as Managed Tokens to buy OVRLands from the primary market, treasure hunt packages, and all of the paid features enabled on the OVR platform.

In the interface, tokens will be divided into 3 categories:

OVR: OVR Tokens directly managed by the user with the private keys of the wallet, usable for all of OVR platform features (Metamask, Imtoken, Ledger..)

OVR Managed: OVR Tokens property of the user but managed by OVR Company on their behalf, abstracting private key management complexity. Under this category will have OVR Tokens bought with a credit card and OVR Tokens from the Treasure Hunt 2.0. It will be possible to use those tokens for the following activities on the OVR Platform: buy OVRLands from the primary market, pay for Treasure Hunt packages. We will also enable withdrawal of OVR Tokens to personal user wallet (private keys managed by user) and secondary market transactions in the coming weeks.

OVR Tokens Treasure Hunt 1.0: Those tokens balance will only be visible to users who participated in the treasure hunt 1.0 and performed pairing and KYC. We will enable gradual monthly release of such tokens to avoid a negative impact on OVR Token price.