Cryptocurrencies and digital currencies will have an impact on entertainment and gaming in 2021, in addition to financial services. In the fields of mobile, technology, art, and gaming, NFTs and the metaverse have become hot (and contentious) topics. With NFT sales of $91.8 million and Facebook’s new Meta direction.
Part 2 of our series covered the fundamentals of blockchain and NFT marketplace development. NFTs, blockchain gaming, play-to-earn (P2E) games, and the metaverse implications for mobile app developers in 2022 are discussed in this article.
What are NFTs and how do they affect mobile devices?
While NFTs have existed in some form since 2014, they have only been standardized since 2017. Between 2020 and 2021, cultural awareness and use increased dramatically. In 2022, record-breaking auctions of digital art NFTs by Sotheby’s and Christie’s, celebrity endorsements, and the popularity of NFT collections like CryptoPunks and Bored Ape Yacht Club fueled a passion for these tokens, as we described in part one of this series.
NFTs are one-of-a-kind data units that can be used to signify digital ownership on a blockchain. They are non-transferable, unlike bitcoin; each NFT is unique and can only be stored in one wallet at a time.
Music, gaming, events, and other entertainment verticals are all affected by NFTs. In addition to art, they provide new revenue strategies for producers, interoperability of digital things, and digital ownership for fans.
Gaming NFTs and blockchain games attracted about $4 billion in investment in 2021, making it the largest investment category in the industry. Electronic Arts and Take-Two Interactive are two major gaming companies that have endorsed NFTs’ potential.
NFTs, on the other hand, have proven to be a contentious topic, with many stakeholders opposing companies’ efforts to implement the technology. Coinbase and Gamestop plan to launch NFT markets in 2022, and Samsung has stated that its Smart TVs will include an NFT platform in 2022.
Popular NFT markets such as OpenSea have gone mobile-only, allowing users to display their NFTs on their phones. Working with an MMP like Adjust makes tracking in-app events related to NFT generation much easier. Additionally, the ability to link and attribute these events to UA campaigns, as well as analyze the number of users acquired as a result of them.
What exactly is the metaverse and how does it function?
As a result of the NFT trend, the public’s understanding of the metaverse has exploded. It owes a lot to Facebook’s rebranding as Meta and recognition of its mission as a metaverse corporation. Many companies see the metaverse as the next step in the internet and mobile evolution, in which users interact with immersive virtual and mixed reality environments.
While virtual worlds are not a new concept, crypto-economic innovations such as distributed ledgers and non-fungible tokens are (NFTs). It makes it possible to create a universal state layer. It could provide the backbone for an open and interoperable metaverse in terms of property rights, identity, and digital ownership.
The popularity of immersive, multi-user games like Roblox has sparked renewed interest in NFTs and crypto. It has sparked a surge of speculative interest in metaverse projects and cryptocurrencies, as well as a virtual real estate “land boom.” Microsoft, Nvidia, Disney, and Epic Games have all made announcements or made investments.
While a fully functional metaverse is still a long way off, mobile apps, especially games, have seized the opportunity. Over 500 applications have used the term metaverse’ in their title or description to pique user interest, according to Sensor Tower data. Mobile games are leading the way, with banking apps following closely behind.
Play-to-earn, mobile gaming, and blockchain gaming
Players can earn digital currency by playing blockchain-based games. It has grown in prominence as a result of Axie Infinity’s phenomenal growth and popularity. In-game money, a marketplace, and a token economy are common features in these games (usually governed by the community of token holders).
Certain games are combining decentralized financial (Defi) features with gameplay in a trend known as GameFi.
Mobile games with peer-to-peer functionality, on the other hand, are gaining popularity. Thetan Arena, a multiplayer online battle arena (MOBA) game with peer-to-peer (P2P) capabilities that was released in November 2021, surpassed 10 million downloads in less than three months and became the top Act > Brawl game in December 2021.
For mobile game developers, NFTs and P2E models open up new possibilities. They do, however, pose some difficulties, such as the long-term viability of P2E business models. The combination of game mechanics and financial incentives that works. New blockchain infrastructure integration, regulatory issues, and so on.
On mobile, blockchain-based games and NFT features are becoming more popular. In this new vertical, consumer competition will heat up, making effective user acquisition methods critical to success. Mobile marketers who want to analyze and attribute conversions, optimize ad spend, and use deep links, among other things, need MMPs like Adjust.
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