The revenue taps are seemingly about to be turned on for Swarmio Media (CSE: SWRM). The firm this morning announced that it has debuted the Swarmio Store to its full service gaming ecosystem that is integrated with telcos.
With initial deployments occurring throughout January 2022 with Sri Lanka Telecom, the store, described as a “proprietary integrated ecommerce solution,” is viewed as being a key piece of the firms platform. The online store will enable consumers to purchase in-game upgrades, accessories, and product merchandise from major AAA games.
The purchases will enable consumers to customer their in-game avatars, or personalize objects within games via skins. Purchases will be made via Swarmio Hive points, which can be acquired via tournaments, challenges, and direct purchases from various payment methods. The development is significant, with recent studies conducted by Statista indicating that the largest portion of the video game market is in-game consumer spending, which amounted to US$54 billion in 2020.
“The Swarmio Store allows telecom operators to build stronger ties with their subscribers, and enables them to meaningfully participate in the gaming industry and take a share of the $200B in revenue it is generating annually. Additionally, because Swarmio earns a small percentage from each transaction that takes place via the Swarmio Store, it is also a key part of our revenue model,” commented CEO Vijai Karthigesu.
Swarmio will earn a percentage of the revenue on each purchase conducted on the platform, with game publishers and developers to also receive a portion of the revenue.
Rollout to other customers is expected to follow the initial deployment with Sri Lanka Telecom.
Swarmio Media last traded at $0.385 on the CSE.
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