About a decade and a half ago, the production of video and mobile games was of low quality and had just a few users. In today’s world, the transition of technology has delved deep into the gaming world too.
There are lots of upgrades in video quality, different characters based on the game type, as well as diverse modes of unlocking stages, gems, characters, and so on. To make this more effective, the input of in-app items has made the gaming world more fun and addictive.
In-app gaming items are unique items a player can purchase in the virtual world of the game. They can modify the characters or unlock stages, and overall help have more exciting gaming experiences.
When in-app items were firstly introduced, they could only be purchased with fiat (dollars, euros, etc). Despite receiving a lot of backlash, this also made many games more popular.
Today there are over 5 million mobile apps on both Android and Apple’s App Store. Out of this number, over 1 million are gaming apps, according to Statista. The gaming app world, as of 2020, is worth over $152 billion, with the mobile gaming app contributing about $74.6 billion; and one of the ways this amount came about was thanks to in-app purchases.
In-app items are virtual items that are exchanged majorly with real money. The game app publishers produce them. And they are the primary way through which publishers of free-to-play games (F2P games) generate income.
Pay-to-play games (P2P games) also leverage on in-app items to create more revenue. However, this does not go down well with gamers. This revenue is then used to upgrade the game and expand the playing options.
The Role of Brands in the Gaming World
A significant percentage of gamers are apparently not really into watching TV or surfing through social media platforms. They are more engrossed in their games, something game developers take advantage of. Second Life and Fortnite have reportedly generated over $3 billion from in-app purchases.
It implies that gamers are willing to spend an abundant amount of money into the world of gaming, in order to have a more exciting experience.
This is a lucrative market, and several brands can create new channels for generating extra revenues. It is also an avenue for killing two birds with one stone, as it will cause their customers to interact with their favorite brands on a new platform.
Some famous companies are already maximizing this opportunity. Automobile companies like Audi and Volvo use virtual reality for text-driving experiences. Fashion houses such as Gucci and Louis Vuitton allow your avatar to don their clothes. These companies will stand out amongst their competitors because they sought a new way to reach a broader community.
Branded in-app items
Branded in-app gaming items can be used in the same way real-world objects are used. After purchasing them, you can put them on your characters or use them to enhance the ability of your avatar. This depends on what kind of items you’re purchasing and the ability that comes with it.
You can also move them from platform to platform or trade them for other goods (real or virtual). The values of in-app items will gradually increase with time.
Some major brands are already collaborating with video game developers to make this come to reality. Louis Vitton has partnered with Leagues of Legends; The NFL works together with Fortnite, while Moschino is also in partnership with the life-simulation videogame The Sims.
What makes this type of collaboration a win-win is how it allows for app developers to not worry about what their gamers may need or want, nor do brands have to worry about how to reach a larger audience. It will also create more awareness for the games and their developers, as well as the brands; who will make a profit without the need to produce the product.
In the near future, the idea of branded in-app gaming items will rise in leaps and bounds. The brands ignoring this innovative collaborative approach, will most likely resort to it at some point.
Humans are social beings, and the love for technology to explore every aspect of life will only continue to increase. The gaming world is increasing daily in its influence via mobile apps and video games. Hence branded in-app gaming items are likely to fully bloom soon.