AppLovin launches NFT Marketplace for mobile game developers

Quick take:

• AppLovin has launched its first NFT marketplace for mobile game developers.
• The new platform will help mobile game makers monetize their projects through web3.
• The project is part of AppLovin’s web3-focused subsidiary OpenVessel, which allows game makers to integrate NFTs into their games.

AppLovin (NASDAQ: APP) has announced the launch of its NFT marketplace for mobile gaming. 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 available in the Apple and Google Play stores.

Commenting on the launch, Rafael Vivas, AppLovin’s General Manager of New Initiatives, said that Vessel is helping to revolutionize mobile gaming by giving developers a new opportunity to monetize apps. There is also an opportunity for onboarding and growth in the community.

“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 consumer demand for NFT creation and purchase with the high levels of engagement associated with gaming, Vessel a strong potential as a new revenue stream for mobile games,” Vivas added.

The vessel is designed to be an all-in-one NFT marketplace and wallet, giving players easier access to web3 resources. They will be able to buy, sell and trade their NFTs, and convert their gaming earrings into cash.

The platform is already attracting developers with dozens of them integrating the marketplace into their games to increase monetization. One of the notable game developers who have already taken the plunge includes Lion Studios, who integrated an in-game NFT event into their Match 3D game.

The company reported a huge increase in engagement and a significant increase in average revenue per daily active user.

Randal York, Product Manager for Lion Studios commented, “NFTs have always had the potential to be a powerful tool for developers; all we needed to do was simplify the idea so our customers could understand the benefit. “The tool gave us that ability, and the audience embraced it. It was amazing to see a significant increase in in-app purchases for our NFT event compared to previous events.”

Although some traditional game developers have embraced web3 monetization through NFTs, some of their communities have expressed displeasure with the decisions made by the game makers.

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