Users worldwide are demanding digital wallets as a payment method for content creators and broadcasters.
Content providers are finding new sources of revenue, as subscription fatigue kicks in and audiences are not willing to pay for more than three services at a time. Gamification is one of these sources! Even bigger will be a new segment just starting to emerge: gamification with Crypto or NFT.
NFTs are cryptocurrency tokens used to represent assets (like works of digital art, music or movies). NFTs can be bought and sold, like physical assets, but since they run on blockchain, a decentralized digital ledger that documents transactions, ownership and validity of the asset they represent can be tracked.
For content creators and broadcasters, the appeal is clear: just imagine paying an end-user for winning an OTT Trivia game not with credits or money, but with cryptocurrencies or even NFTs.
“We have had customers interested in adding crypto to end-users gamification experiences. Multiple requests from current and prospective clients supports our vision that crypto, NFT, and blockchain are coming into the OTT space,” commented Gio Punzo, CEO of Streann Media. “It’s not about if, but when”.
Gamification Market Statistics
Our market research reveals that games are a high growth segment in media, propelled by the ubiquitous use of mobile devices and the capabilities of streaming.
The gamification market size in 2020 had a global value of over $16 billion and is predicted to register an impressive growth of 32%, reaching $30 billion by 2025.
Why Mark Cuban believes that this is the next boom
“This is like the early internet days all over again,” Cuban told Justin Kan on a recent episode of “The Quest” podcast. “I think [NFTs and blockchain tech is] going to be huge. We are going to see a tremendous amount of innovation through the combination of content and payments”
Increasingly, trivia games are being used to build participation in live shows and sports. To put it simply, gamification incorporates fun and an element of competition to your content strategy.
Inside-Game: adding trivia games to your content.
Inside-Game is one of the 100+ features that Streann offers in our OTT platform. With a simple integration, you can enter the world of trivia, and add new monetization capabilities. To make it even more appealing to content creators and broadcasters, Streann will add cryptocurrency to its gamification features.
Activating your audience’s voices through gamification is one of the best things you can do for your content, but it’s also one of the most challenging. Fortunately, we can deploy a gamification solution in a matter of days.