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.
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.
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Source: Cryptocurrency - investing.com
