AppLovin Unveils NFT Marketplace Centered on Mobile Game Creators
AppLovin (NASDAQ: APP) announced the debut of their mobile games NFT marketplace. The new initiative is part of the company’s subsidiary OpenVessel, which allows mobile game producers to insert non-fungible tokens (NFTs) into games in order to generate extra income streams. The software is now available on the Apple App Store and Google Play.
Rafael Vivas, General Manager of New Initiatives at AppLovin, said that Vessel is helping to revolutionize mobile gaming by providing developers with a new way to monetize games. It is also a chance for community expansion and incorporation.
“The marketplace is now operational, and our engagement data demonstrates that people are eager to participate in new ways to play and earn. By combining the customer desire for NFT production and purchase with the high engagement levels associated with gaming, Vessel has significant promise as a new revenue stream for mobile games,” said Vivas.
Vessel is intended to be an all-in-one NFT marketplace and wallet, enabling gamers to more easily access web3 assets. They will be able to purchase, sell, and trade NFTs, as well as convert game earrings into cash. Already, scores of creators have integrated the platform’s marketplace inside their games to improve income generation. Lion Studios included an NFT in-game event into their Match 3D game, making it one of the noteworthy game creators that have already completed the transition.
The firm claimed a big increase in average revenue per daily active user and a substantial increase in user engagement. Randal York, Product Manager at Lion Studios, said, “NFTs have always had the potential to become an effective tool for developers; all we had to do was simplify the concept so that our clients could comprehend the value. This was made possible by Vessel, and our audience welcomed it. Amazingly, our NFT event saw a large boost in in-app purchases compared to prior events.”
Despite the fact that some conventional game creators have adopted web3 monetization via NFTs, some of their communities are unhappy with the choices made by the game developers.