OviO Tokenizes $175 Billion Mobile Gaming Industry Via Web3 By DailyCoin
OviO tokenizes the $175 billion mobile gaming industry via Web3
Gaming platform OviO has unveiled a new set of apps on the Google Play Store (NASDAQ:) to bridge the Web2 and Web3 economies.
Growth of the mobile game industry
Mobile gaming is a growing industry, worth more than $131 billion in 2021. This figure is expected to increase by 20% in the coming years.
Asia remains the main revenue-generating market. Other reports indicate that mobile gaming accounts for up to 60% of global gaming, making it one of the most exciting sectors in technology.
Web3 companies are exploring the opportunities of mobile gaming by providing infrastructure to unlock Web3 elements. Web3 technology allows developers to experiment with in-game currency tokenization and unlock more value for players.
Link Web2 to Web3
OviO aims to bridge Web2 and blockchain-based solutions and wants to be that bridge. OviO allows the purchase of discounted game currencies for various mobile games. Users can also earn OviO Credits, which can be traded between titles for in-game benefits.
Traditionally, in-game currencies in mobile games have no inherent value. Users cannot export them outside of their accounts, much less convert them into real money.
There are approximately $175 billion in in-game assets across all mobile games. Tokenizing these assets with smart contracts will convert them into tradable crypto assets.
“Our mission is to provide gamers and crypto communities with the best liquidity experience with our universal gaming token, which can offer our communities the holy grail of interoperability and ownership of any gaming asset across all games, domains, channels and categories.
Our frictionless approach means our gaming community gets the best experience of our games, not to mention exclusive in-game content, great discounts on game coin purchases, and better exchange rates for our most loyal users. commented OviO CEO and Co-founder Nir Hauer.
OviO allows tokenized game currencies to work on all supported titles. The platform notes a 31% higher percentage of paying users and a 27% higher average revenue per user compared to standard games. As new partnerships with game developers, corporations, and publishers are forged, the mobile gaming landscape will change.
Following the behind-the-scenes work, OviO presented its mobile applications on the Google Play Store. An iOS launch will take place in the coming weeks. Several games are now available, including Impossible Space and Trial Xtreme 4.
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