OviO Tokenizes The $175 Billion Mobile Gaming Industry Through Web3

Share this story:

 

OviO gaming platform has unveiled a new set of applications on the Google Play Store to bridge Web2 and Web3 economies. 

Growing Mobile Gaming Industry

Mobile gaming is a growing industry, representing over $131 billion in 2021. The figure is expected to increase by 20% in the upcoming years. 

Asia remains the primary market for revenue generation. Other reports indicate mobile gaming represents as much as 60% of global gaming, making it one of the most exciting verticals in the technology. 

Web3 companies explore opportunities in mobile gaming by providing infrastructure to unlock Web3 elements. Web3 technology enables developers to experiment with in-game currency tokenization and unlock more value for gamers. 

Bridging Web2 with Web3

OviO aims to bridge the transition from Web2 to blockchain-based solutions and wants to be that bridge. OviO enables the purchase of discounted in-game currencies for various mobile games. Users can also earn OviO credits, which can be redeemed across titles for in-game benefits. 

Traditionally, in-game currencies in mobile games have no inherent value. Users cannot export them outside their accounts, let alone convert them to real money. 

There is an estimated $175 billion in in-game assets across all mobile gaming. Tokenizing those assets with smart contracts will convert them into tradeable crypto assets. 

 “Our mission is to offer gamers and crypto communities the best liquidity experience with our universal gaming token, which can offer our communities the holy grail of interoperability and ownership of any game asset across all games, domains, chains, and categories. 

Our frictionless approach means our community of gamers gain the best experience from 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 enables tokenized in-game currencies to operate across all supported titles. Platform notes a 31% higher percentage of paying users and 27% more average revenue per user than standard games. As more partnerships with game developers, companies, and publishers are forged, the mobile gaming landscape will change.

Following the behind-the-scenes work, OviO has introduced its mobile applications to the Google Play Store. An iOS launch will occur in the coming weeks. Several games are now available – including Impossible Space and Trial Xtreme 4.

 Read More 

All provided materials and tools are for entertainment purposes only and should never be considered financial advice. Crypto News 19 will not take any responsibility for lost funds based on investments/trades made on information found here or any linking website/affiliate. This includes all social media posts and all other communications occurring under the name Crypto News 19. You should always seek professional advice before making any investment or trade.