Tilia, a San Farcisco, CA-based provider of a payments platform, receives an investment from J.P. Morgan.
The amount of the deal was not disclosed.
Led by Brad Oberwager, Executive Chairman, Tilia provides developers with the tools to enable profitable in-world economies that empower their players and users to buy and sell virtual goods and services and facilitate play-to-earn programs. Its solution, built for game, virtual world and mobile application developers handles payment processing, in-game transactions, as well as payouts to creators by converting in-world tokens to fiat currency including USD, which serves as the backbone of any functioning virtual economy.
In addition to the investment, the company is also working with J.P. Morgan Payments to enhance its current capabilities throughout its processing platform including providing increased payment and payout methods, expanding pay-out currencies and support services.
Tilia is partnered with several virtual worlds and metaverses, online games, and NFT marketplaces, including Second Life, Upland and Avatus.
FinSMEs
19/10/2022