PALO ALTO, Calif.–(BUSINESS WIRE)–AppLovin (NASDAQ: APP), the leading growth platform for developers, today announced its first NFT marketplace launching in app stores through its subsidiary OpenVessel Technologies, LLC. Currently available in the Apple and Google Play app stores, Vessel enables mobile game developers to easily integrate non-fungible tokens (NFTs) into games to increase engagement and revenue.
“Vessel represents the next evolution in mobile game monetization, giving developers a new opportunity to monetize apps and drive meaningful engagement and growth,” said Rafael Vivas, AppLovin’s General Manager of New Initiatives. “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 monetization stream for mobile gaming.”
Vessel is an all-in-one marketplace and wallet that makes it easy for consumers to access custom NFTs. Developers can allow users to securely buy, sell and trade their NFTs and convert their earnings into cash. The vessel has cleared both Apple and Google Play store reviews, and meets both app stores’ strict guidelines.
The vessel is finding strong early interest with dozens of developers actively integrating the marketplace into their games to generate additional revenue. Using Vessel, Lion Studios integrated an in-game NFT event into their Match 3D game and saw strong engagement and meaningful Average Revenue Per Daily Active User (ARPDAU) increases.
“NFTs have always had the potential to be a powerful tool for developers; all we had to do was simplify the idea so our customers could understand the benefit,” said Randal York, Product Manager for Lion Studios who led the NFT integration for Match 3D. “The vessel 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.”
About AppLovin
AppLovin enables developers to grow their business. Businesses rely on AppLovin’s market-leading technologies to solve their mission-critical functions with a powerful, full-stack solution including user acquisition, monetization and measurement. AppLovin is headquartered in Palo Alto, California with multiple offices globally.
Forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or AppLovin’s future financial or operating results. In some cases, you can identify forward-looking statements because they contain words such as “may”, “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “believe”, “potential” or “continue” or the negative of those words or other similar terms or expressions relating to AppLovin’s expectations, strategy, plans or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding AppLovin’s launch and expectations for its NFT marketplace, Vessel, including how consumers and developers can use the marketplace. AppLovin’s expectations and beliefs regarding these matters may not materialize, and actual results are subject to risks and uncertainties, including changes in AppLovin’s plans or assumptions, which could cause actual results to differ materially from those projected or expected. These risks include changes in general economic and industry conditions, AppLovin’s ability to attract new customers or use of the new init. iative vessel; AppLovin’s ability to improve its technology and platform; and changes in laws, regulatory landscape or app store rules related to NFTs. The forward-looking statements in this press release are also subject to other risks and uncertainties, including those more fully described in AppLovin’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and Quarterly Report on Form 10-Q for the fiscal quarter then ended June 30, 2022. The forward-looking statements in this press release are based on information available to AppLovin as of the date hereof, and AppLovin disclaims any obligation to update any forward-looking statements, except as required by law.
Source: AppLovin Corp.
