Web3 innovations are revolutionizing many industries and have already driven trillions of dollars of economic activity. Perhaps unsurprisingly, the advertising industry has enthusiastically hopped aboard. Brands are snapping up metaverse land, with companies and individuals transacting nearly US$2 billion in land sales between Nov. 2021 and Nov. 2022. Sportswear and luxury brands have been the most successful at NFT advertising to date, with Nike’s Cryptokicks virtual sneakers dominating the market by generating $185 million in NFT sales within just ten months last year.
Web3 entertainment innovators PlayMining are now offering a new way to bring advertising into the Web3 world: product placement as GameFi utility NFTs. They are offering third-party businesses and individual influencers the opportunity to promote their brands by showcasing their products and services in NFTs that people can purchase and use in PlayMining Play-and-Earn (P&E) games.
Product placement is an advanced advertising method in which branded products are seamlessly integrated into the content of another work, such as when logos are shown in a movie — or in this case, game item NFTs. Product placement is a very effective means of increasing brand visibility, and has grown to a US$23 billion market as of mid-2021.
In addition to the increased brand visibility, PlayMining pointed out two major benefits to selling product placement NFTs on their platform: Firstly, companies can make direct revenue through NFT sales. Secondly, as the NFTs can also grant extra utility in the games, it is more likely that players will have a positive reaction to the advertising, driving additional revenue from secondary transactions.
PlayMining is a GameFi platform that combines a number of P&E games with an NFT marketplace and boasts 2.7 million members. Players can earn DEAPcoin ($DEP) through play, which can be used to purchase utility and artwork NFTs, traded on popular marketplaces, or sold back to PlayMining’s operating company, Digital Entertainment Asset (DEA).
DEA co-founder and co-CEO Naohito Yoshida said that sales of product placement NFTs are aimed at injecting more money into the PlayMining ecosystem, with the goal of stabilizing DEP token price and improving the P&E experience.
PlayMining has a wide catalog of P&E games, including Job Tribes, Cookin’ Burger, Menya Dragon Ramen, Graffiti Racer and Lucky Farmer. They also have many more games in development, including the highly anticipated SOUL Fusers which allows players to collaborate on the design of the NFTs they use in the game. They also have a metaverse project that enables fans to collaborate on a Japanese manga series with famed artist Kamui Fujiwara.
DEA’s other co-CEO and co-founder, Kozo Yamada, said that the company focuses on developing games that appeal to casual players, which is the largest gaming demographic in the world. He pointed out that this sets PlayMining apart as a GameFi platform worth advertising on.
Companies and individuals who are interested in advertising on PlayMining with product placement NFTs should apply using the following Web3 form:
Check out Digital Entertainment Asset (DEA) and PlayMining and follow them on social media to get the latest updates.