Quick take:
AppLovin (NASDAQ: APP) has announced the launch of its NFT marketplace for mobile games. The new project is part of the company’s subsidiary OpenVessel, which enables mobile game developers to integrate non-fungible tokens (NFTs) into games for additional revenue streams. The app is already live in Apple and Google Play stores.
Commenting on the launch, Rafael Vivas, AppLovin’s General Manager of New Initiatives said Vessel is helping revolutionise mobile gaming, by giving developers a new opportunity to monetize apps. It’s also an opportunity for community onboarding and growth.
“The marketplace is live, and our engagement data shows that consumers are more than ready to take part in new ways to play and earn. By combining the consumer demand of NFT creation and purchasing with the high engagement levels associated with gaming, Vessel is showing strong potential as a new monetization stream for mobile games,” added Vivas.
Vessel is designed to be an all-in-one NFT marketplace and wallet, giving players easier access to web3 assets. They will be able to buy, sell, and trade their NFTs, and convert their game earrings into cash.
The platform is already attracting developers with dozens of them integrating the marketplace into their games to increase revenue generation. One of the notable game developers that have already made the step include Lion Studios, which integrated an NFT in-game event into its Match 3D game.
The company reported a huge increase in engagement and a significant rise in the average revenue per daily active user.
Randal York, Product Manager for Lion Studios commented: “NFTs have always had the potential to become a powerful tool for developers; all we had to do was simplify the idea so that our customers could understand the benefit. “Vessel gave us that ability and our audience embraced it. It was amazing to see a significant increase for in-app purchases for our NFT event compared to previous events.”
Although some traditional game developers have embraced web3 monetisation through NFTs, some of their communities have expressed discontent towards the decisions taken by the game makers.
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