Blogs
A Mobile Gaming Revolution Explained
The gaming market has long-since been one of the biggest earners in the entertainment industry. In fact, the global gaming market generated just under $110 billion in revenue in 2017 alone, $82 billion of which came from free-to-play games that offered in-app purchases (IAPs).
More recently, the mobile gaming industry has been growing by leaps and bounds. Part of the multi-billion dollar app economy, the mobile gaming market is believed to generate as much as 75% of the app market revenue– a market that’s expected to be worth $101 billion in 2020. According to a study by Apptopia, developer titan, Supercell (known for popular titles like Clash Royale and Clash of Clans) generated all but a million of their $145 million revenue in 2017 from IAPs; $114 million of Activision Blizzard’s $116 million earnings in the same year were attributed to IAPs as well.
The Future of Gaming
The future of gaming isn’t console and PC games – it’s mobile gaming. More specifically, mobile games built on the freemium model. The Chinese market alone consists of 500 million people – more gamers than the United States has citizens – and is expected to be worth $14.4 billion by 2021.
Freemium games allow users to play games for free but require IAPs for upgrades, rare items, unique skins, and other services that provide customizations or competitive advantages.
As the demand for freemium games like Candy Crush and Angry Birds increases, there’ll also be a need for better payment-processing solutions that are both attractive to developers and can handle wide-scale payments without experiencing downtime.
OPEN Platform Brings a New Solution to Games and IAPs
Currently, most game purchases and IAPs are processed through digital marketplaces like Google Play Store and Apple’s App Store. Innovative for their time, these platforms are widely ineffective in the modern gaming market because of:
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- Expensive middleman fees that can take as much as 30% of the developer’s earnings.
- Payment cycles that last between 30 to 90 days.
- Lack of cryptocurrency payment options.
The OPEN Platform solves this problem by giving developers a modern payment-processing solution that’s cheaper (3% transaction fees, all of which is recycled back into the developer pool for platform incentivization) and more effective than payment solutions on centralized marketplaces.
Thanks to the OPEN API, developers can integrate blockchain technology that supports all types of cryptocurrency transactions without having to make changes to their backend. Adding OPEN Platform to new and existing apps doesn’t require blockchain knowledge or blockchain programming languages like Solidity. OPEN processes IAPs as they happen, instantly sending money to the developer wallet where it’s converted to the developer’s currency of choice.
By providing a crypto payment infrastructure, OPEN connects developers with two important markets: the traditional market and the crypto market, the latter of which is worth approximately $400 billion.
By making cryptocurrency accessible and easy to use, OPEN helps bring mainstream blockchain adoption one step closer to becoming a reality. Visit the OPEN website today to learn more about the OPEN Platform and how it uses blockchain technology to make IAPs, subscriptions, and purchases easier for your new and existing applications and DApps. If you’re a developer interested in integrating OPEN Platform into your applications, check out the OPEN Developer Contest and the OPEN Roadshow, which is currently touring the Asian market looking for top talent.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Daniel Lee via Flickr
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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