When app developers come up with a bright new idea, one of the first challenges is to get funding to develop and release the app on the market. This need directs app makers to head to the usual funding avenues. However, most of these opportunities come few and far between or are unrealistic to obtain. Crowdfunding is too competitive, and loans are not every developer’s preferred choice.
There are some more modern and innovative ways of funding apps such as performance-based funding. This works in the same way as some mortgages. Payments are released in stages. So, if when you buy a plot and get the foundations sorted, the bank will release more money for the next stage of the build. The same works for app monetization of apps. Based on monthly user targets, developers are able to grow their app based on their current performance – which is safer for investors.
Blockchain technology and crypto games also offer an opportunity to help app developers earn money from their apps and contribute to app growth and development. Increasing numbers of people all over the world are turning to Bitcoin and keeping their Luno Bitcoin wallet close to hand, which is opening up massive opportunities for app developers. This is what will be the focus of discussion in today’s post.
In-App monetization and Gaming
Making money from a developed app already on the market can be slow, but gaming is one niche where in-app monetization is much faster. The reasons for this are rather simple. There are lots of opportunities for gamers using apps to make in-app purchases. For example, a gamer may buy a new weapon, upgrade their avatar, subscribe to a membership or download a new gaming world. This is on top of the other stream of income from apps, such as advertisements.
So Why Crypto Gaming?
Crypto gaming presents a new opportunity to see a return on investment from apps – and thus appeal to those performance-based funding options mentioned above. Making payments through apps are not always trusted by users, but crypto, and therefore, Bitcoin can increase trust due to its decentralized and open-source nature, i.e. the blockchain. Whereas entering credit card details may be daunting, choosing to pay with crypto affords extra peace of mind.
Making crypto and Bitcoin the form of payment in mobile games also brings a host of benefits to the doorstep of gamers. They not only get the assurance of safer payment means, but they also get cheaper payments for smaller fees. Microtransactions can become inconvenient and expensive when third parties are involved. Yet, when the app ditches fiat currency microtransactions for crypto transactions, no other hands are out to make that new suit or weapon even more costly. The same applies to crypto casino games where players may choose to deposit small amounts to monitor their spending.
Although this opportunity has not been explored often by app developers, there is no doubt that in time, Bitcoin and other cryptocurrencies may become a vehicle of in-app monetization and help developers to grow their creations.