Press Start: What our good ol' video games can teach us about Fintech

Ah, the golden days of video games—when the sound of a cartridge clicking into place was the beginning of an epic adventure, and your only worry was whether the console would recognize it on the first try. I’m talking about Sonic the Hedgehog, Super Mario Bros., Street Fighter II—the icons that shaped our childhoods and kept us glued to our CRT TVs for hours on end. Now, fast forward to today, where fintech is all the rage, revolutionizing how we handle money in ways that feel as groundbreaking as gaming in the 80s and 90s.

But here’s the kicker—fintech and old-school video games have more in common than you’d think. Stick with me, and I’ll show you how the lessons we learned from the 8-bit and 16-bit era are strikingly similar to what’s happening in fintech today.

1. "Insert Coin" to Play: Microtransactions and Digital Payments

Remember arcades? The clatter of coins being dropped into the slot to keep your game going? Back then, if you wanted to play, you paid—simple as that. But here’s the thing: what we thought was a relic of the past has actually come full circle. Today’s microtransactions in mobile games and digital purchases on gaming platforms like Steam and PlayStation Store are the arcade’s spiritual successors.

Fintech has made it easier than ever to pay for these in-game goodies, whether it’s through Apple Pay, Google Pay, or crypto wallets. And just like in the old days, those small payments can stack up quickly. If you ever dropped quarters like a fiend trying to beat Street Fighter II, then you already know the deal. Digital payments today have just refined the process, making it faster and seamless—so fast, in fact, that sometimes you don’t even notice how much you’re spending until it’s too late. Sound familiar?

Lesson: The frictionless nature of digital payments is just a modern twist on the old arcade "insert coin" experience. You pay to play, only now it’s virtual, and fintech is the one powering the experience.

2. The Game Over Screen and Fintech Failures

In the old-school gaming world, "Game Over" wasn’t just a screen—it was a harsh reminder that you’d failed. Whether you misjudged a jump in Super Mario Bros. or lost that last life to Dr. Robotnik, there was no going back unless you had a spare quarter or an extra life. And the fintech world? It’s got its own version of the “Game Over” screen—think financial crashes, failed startups, or volatile crypto markets that can wipe out investments faster than you can say, “One more life, please!”

Take crypto, for instance. The market volatility feels like the video game boss battle you just can’t seem to win. One minute you're riding high, and the next, you’ve hit a sharp drop that feels like falling into the bottomless pit in Super Mario. And just like in those games, fintech innovators are constantly striving for that elusive next level, knowing that one misstep could spell doom.

Lesson: Just like the tough-as-nails games of old, the fintech world isn’t without its risks. But every failure is a chance to learn and start again—just with fewer lives in the balance.

3. Leveling Up: Gamification of Finance

Video games were all about leveling up, achieving high scores, and unlocking hidden features. That same spirit of achievement is now everywhere in fintech. Take apps like Robinhood or Acorns that gamify investing, making it accessible to the average person who doesn’t have a Wall Street background. These apps reward users for hitting milestones, much like earning a power-up in Donkey Kong or Mega Man.

The dopamine hit you’d get from clearing a tough level back in the day? That’s the same rush many feel when they get their first return on investment or hit their savings goals. By making finance feel like a game, fintech has tapped into our deep-seated desire for progress and reward. The only thing missing is a pixelated leaderboard to show off your financial prowess.

Lesson: Gamifying finance makes it more accessible, and just like those old games, it’s all about hitting the next level, whether in your savings or investments.

4. The Currency of Nostalgia: NFTs and Digital Ownership

Alright, I know what you’re thinking—NFTs seem like something from the future, but in reality, they tap into one of the most classic concepts in gaming: digital ownership. Back in the day, owning a rare cartridge—like EarthBound or Chrono Trigger—was a badge of honor. You didn’t just play the game; you owned a piece of the culture, something others coveted.

NFTs have brought that feeling into the modern fintech landscape. Instead of owning a rare cartridge, you might own a one-of-a-kind digital artwork, a virtual collectible, or even a moment in sports history. The concept is the same: ownership of something unique, whether it’s a physical cartridge or a digital token on the blockchain.

In gaming today, you’ve got rare skins, characters, or weapons—items that carry serious clout in certain circles. NFTs, in fintech, offer that same allure, just without the gaming system. It’s the ultimate crossover of nostalgia and tech—like owning a limited-edition Zelda cartridge, but for the digital age.

Lesson: The desire for rare collectibles is timeless, and NFTs are simply the next evolution of that old-school craving for ownership.

5. The Co-Op Experience: Crowdfunding in Fintech

Remember when you and your buddies would team up to take down the boss in Contra or Teenage Mutant Ninja Turtles: Turtles in Time? There was a certain magic to working together to achieve a common goal. Well, that spirit of collaboration is alive and well in fintech, thanks to crowdfunding platforms like Kickstarter and GoFundMe.

Crowdfunding is essentially the co-op mode of the financial world. It allows a group of people to come together, pool resources, and collectively bring an idea to life. Whether it’s funding a new tech gadget or supporting a cause, fintech has enabled people to become part of something bigger—much like joining forces to defeat a boss in an old arcade game.

Lesson: Fintech’s crowdfunded projects capture the essence of the co-op gaming experience—working together to accomplish what couldn’t be done alone.

Final Thoughts: The High Score of Innovation

Old-school video games didn’t just entertain us; they taught us lessons that fintech is building upon today. Whether it's the rush of microtransactions, the sting of failure, or the thrill of leveling up, we’re all still chasing that high score—only now, it’s not in pixels but in dollars, coins, and crypto.

So, the next time you’re swiping on a payment app or tracking your investments, take a moment to think back to those simpler times, when the only currency you cared about was those shiny arcade tokens. Because if there’s one thing that never changes, it’s our love for the game—whether it’s in gaming or in fintech.