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<p>Plasma, a stablecoin startup backed by Peter Thiel, is offering 10% cashback on Grand Theft Auto VI pre-orders made with its Plasma One card, a promotion timed to the game's launch this week.</p>
<p>Rockstar Games <a href="https://www.rockstargames.com/newswire/article/5171972o3ak5oa/pre-order-grand-theft-auto-vi-on-june-25" rel="noopener noreferrer nofollow">opened GTA 6 pre-orders on June 25</a> ahead of a November 19 release on PlayStation 5 and Xbox Series X|S. The standard edition costs $79.99 and the Ultimate edition $99.99, so a full 10% rebate would return about $8 to $10 on a single copy.</p>
<h2 id="the-terms">The terms</h2>
<p>The offer runs from June 25 through 19:00 UTC on Sunday, June 28, according to Plasma's <a href="https://www.plasma.org/gta-vi-cashback" rel="noopener noreferrer nofollow">promotion terms</a>. It applies only to pre-orders bought directly from the PlayStation Store or Xbox Store, not Steam, gift cards, or resellers.&nbsp;</p>
<p>Cashback is capped at $100 per user, and eligibility is limited to about two dozen countries, including the United States, United Kingdom, Canada, and Australia. Plasma can reclaim the reward if a pre-order is later canceled or refunded.</p>
<p>The reward is paid in XPL, Plasma's own cryptocurrency, a token that has fallen sharply since its launch.</p>
<h2 id="a-token-that-has-lost-most-of-its-value">A token that has lost most of its value</h2>
<p>XPL <a href="https://www.coindesk.com/markets/2025/09/25/stablecoin-focused-plasma-s-xpl-token-debuts-with-over-usd2-4b-market-cap" rel="noopener noreferrer nofollow">debuted on September 25, 2025 with a market capitalization above $2.4 billion</a>, trading as high as roughly $1.54 in its first sessions. The launch came with heavy momentum: Plasma's network went live the same day with about $2 billion in stablecoin deposits and scaled past $5.5 billion within its first week.</p>
<p>By late October, XPL <a href="https://www.coindesk.com/business/2025/10/30/plasma-s-xpl-token-crashes-80-as-hype-fades-amid-woeful-debut" rel="noopener noreferrer nofollow">had crashed about 80% from its high as hype faded</a>. The token has continued to slide and now trades near $0.10, down roughly 95% from its peak.&nbsp;</p>
<h2 id="how-thiel-backed-the-company">How Thiel backed the company</h2>
<p>Plasma is one of the more heavily funded names in stablecoin infrastructure, and Thiel has been involved through several rounds.&nbsp;</p>
<p>Bitfinex led an early seed round of about $3.5 million in late 2024. In February 2025, Plasma raised a <a href="https://fortune.com/crypto/2025/02/13/exclusive-stablecoin-company-plasma-raises-24-million-from-framework-to-launch-its-own-blockchain/" rel="noopener noreferrer nofollow">$24 million round led by Framework Ventures</a>, with participation from Thiel, Bitfinex, and Tether CEO Paolo Ardoino. Thiel's venture firm, Founders Fund, made a <a href="https://www.coindesk.com/business/2025/02/13/plasma-raises-usd20m-to-develop-bitcoin-based-network-for-stablecoins" rel="noopener noreferrer nofollow">further strategic investment</a> later in the year.</p>
<p>The biggest raise came from the public. In July 2025, Plasma closed an oversubscribed <a href="https://www.theblock.co/post/364476/bitfinex-backed-layer-1-plasma-raises-373-million-in-10-day-token-sale" rel="noopener noreferrer nofollow">token sale that brought in $373 million</a>, far above its original $50 million target. The company is building a Bitcoin-based blockchain designed to move stablecoins, the dollar-pegged tokens at the center of the current crypto boom, with fee-free transfers for basic stablecoin payments. The Plasma One card, issued on Visa through partner Rain, is its push into consumer spending.</p>
<h2 id="riding-a-blockbuster-launch">Riding a blockbuster launch</h2>
<p>The promotion attaches Plasma to one of the year's largest consumer events.&nbsp;</p>
<p>GTA 6 is among the most expensive video games ever made, and publisher Take-Two Interactive <a href="https://www.moneyweb.co.za/news/companies-and-deals/gta-6-pre-orders-open-as-take-two-bets-on-gamings-biggest-blockbuster/" rel="noopener noreferrer nofollow">projects net bookings of $8 billion to $8.2 billion</a> for the year, about 20% growth driven by the launch. Take-Two shares rose roughly 4% the morning pre-orders opened.</p>
<p><em><strong>Disclosure</strong>: TheStreet and Roundtable (RTB Digital, Inc.) have no business relationship with Plasma and receive no payment, commission, or other compensation in connection with this promotion or any pre-order made through it. This article is for informational purposes only and is not investment, financial, or purchasing advice. Readers should review the official terms and do their own research before buying.</em></p>

Peter Thiel-backed Visa card offers 10% back on GTA 6 pre-orders

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