PlayMining explores NFT use in product placement

PlayMining, one of the leading Web3 gaming companies, is giving a new way for companies to use non-fungible tokens (NFTs). PlayMining is exploring bringing the $23 billion product placement industry into the NFT space and driving innovation.

PlayMining to use in-game NFTs for advertising

Product placement is popular in entertainment, especially in films and TV shows. However, this industry has yet to enter the NFT gaming industry. PlayMining is planning to change this by tapping into this market.

PlayMining wants to help advertising companies reach their customers. The company has 2.7 million customers, a vast audience for companies that want to expand their product reach.

PlayMining plans to make this offering possible by allowing brands to create NFTs representing their products. Players will get to buy and use these items within the game. Through this initiative, brands will be able to place an advertisement to players in a user-friendly and appealing manner.

PlayMining seeks to solve problems that are prevalent in the advertising industry. Players will advertise to NFT gaming fans through this platform without triggering “brand fatigue.” The company wants to ensure that customers are not irritated when they view an advertisement repeatedly.

Product placement is one of the most effective tools companies use to increase their brand reach. The global video gaming industry is valued at $18 billion. A report by Nielsen noted that 44% of gamers had bought a product advertised within a game.

When product placement enters the Web3 sector, it will create new revenue streams for projects in this space. PlayMining is spearheading this innovation, and the offering could boost the growth and popularity of its ecosystem.

PlayMining seeks to transform NFT gaming

PlayMining is a platform that was launched in April 2020. The entertainment company is based in Singapore and promotes itself as a “Web2 Amusement Park.” The company could emerge as a leader in the NFT gaming industry.

The games advertised on this platform are categorized as casual and fun. Moreover, the games are ideal for all age groups. The company currently features six playable games that are available on the platform.

PlayMining users can buy these NFTs on the marketplace. They can also participate in games where they will earn the DEP token. The more time users take to play, the higher their chances of earning the DEP native token.

Users later stake the DEP token to generate additional rewards. The token can also be used to buy more items within the marketplace. The PlayMining ecosystem also comprises an NFT marketplace that hosts the artwork of more than 1000 creators globally.

PlayMining already has a vast user base, given that the company has distributed more than $9 million in artist royalties in the last two years. The new focus on product placement could enable PlayMining to hold a solid position in the NFT gaming sector.