OviO The gaming platform has revealed a new set of apps on the Google Play Store to connect the economies of Web2 and Web3.
The mobile game industry is growing
Mobile gaming is a growing industry, representing over $131 billion in 2021. The number is expected to rise by 20% in the coming years.
Asia remains the main market for revenue generation. Other reports indicate Mobile gaming accounts for up to 60% of global gaming, making it one of the most exciting sectors in technology.
Web3 companies are exploring opportunities in mobile gaming by providing the infrastructure to unlock Web3 elements. Web3 technology allows developers to experiment with in-game currency tokenization and unlock more value for players.
Connect Web2 to Web3
OviO aims to bridge the transition from Web2 to blockchain-based solutions and wants to be that bridge. OviO allows the purchase of discounted in-game currency for many mobile games. Users can also earn OviO Credits, which can be redeemed across titles for in-game benefits.
Traditionally, in-game currency in mobile games has no intrinsic value. Users cannot export it outside of their account, let alone convert it into real money.
There is an estimated $175 billion in in-game assets across all mobile games. Tokenizing these assets using smart contracts will turn them into tradable crypto assets.
“Our mission is to offer players and crypto communities the best liquidity experience through our global gaming token, which can offer our communities the holy grail of interoperability and ownership of any game asset across all games, domains, chains, and classes.
Our friction-free approach means that our community of players gets the best experience from our games, not to mention exclusive in-game content, deep discounts on in-game coin purchases, and better exchange rates for our most loyal users,” founder Nir Hoyer said.
OviO allows in-game tokens to be played across all supported titles. The platform notes 31% higher paying users and 27% more ARPU than standard games. As more partnerships are forged with game developers, companies, and publishers, the mobile gaming landscape will change.
After working behind the scenes, OviO has introduced its mobile apps to the Google Play Store. The iOS launch will happen in the coming weeks. Several games are now available – including Impossible Space and Trial Xtreme 4.