In the rapidly evolving landscape of the gaming industry, developers and publishers are constantly seeking new ways to expand their games' reach and capitalize on international opportunities. But traditional payout, such as cash and payments that rely on banking rails (like debit card payments, and PayPal or Venmo transfers) are slow, costly, and cause friction and delays for global gamers. One powerful strategy to enter new markets and boost gaming loyalty is leveraging digital value to connect with players worldwide. Below we'll explore how and why digital value will become essential in unlocking international opportunities for game developers.
The Gaming Industry Landscape: A Vast Opportunity
The gaming industry has come a long way from being a niche hobby to a global phenomenon that touches millions of lives across the globe. With the proliferation of smartphones, high-speed internet, and the rise of esports, the international gaming market has grown exponentially. Countries like China, the United States, Japan, South Korea, and many others have established themselves as gaming powerhouses, but there are still untapped markets with immense potential.
According to industry reports, the Asia-Pacific region is the largest gaming market in the world, and its digital gaming market is expected to grow to a massive revenue of more than $241.56 billion USD by 2023. Other regions like Latin America, the Middle East, and Africa are also experiencing significant growth, providing a fertile ground for game developers to explore new opportunities.
The Power of Digital Value
Runa created a new category we call 'Digital Value.' We started with the simple brand idea that Runa unlocks Digital Value for everyone. But, what exactly is digital value, and how can it help game developers expand their reach globally? Digital value encompasses any form of currency, electronic store of value, or medium of exchange that is managed, stored, or transacted through digital computer systems, and is not integrated into central bank fiat-based clearing systems. Types of digital value include cryptocurrencies, central bank digital currencies, virtual and branded currencies, non-fungible tokens (NFTs), fractional shares, ETFs, and public REITs. By harnessing an expansive global marketplace of digital value, developers can develop a robust redemption program that effectively boosts their monthly active users (MAU), foster a loyal community, and attract a more diverse audience from various corners of the world.
Localization: Breaking Down Global Barriers
One of the crucial elements in leveraging digital value to expand internationally is localization. To truly connect with players from different regions, games must be adapted to suit local cultures, languages, and rewards preferences. This goes beyond mere translation; it involves tailoring the gaming experience and rewards to resonate with the sensibilities of diverse audiences. Gamers are more demanding and to break down barriers, you have to give consumers what they want — whether it’s subscriptions, donations, cryptocurrencies, shares, gift cards, or donations. According to our State Of Loyalty Rewards Report, global consumers want more localization.
39% of consumers want more localized payout options, like local and small business gift cards, and would consider switching to another program if it offered an expanded catalog with more retail brands (40%).
More Payouts Attract More Players
Reward preferences differ greatly so it is critical to ensure you have something for everyone. Right now, limited redemption options is the biggest barrier for gaming apps to expand globally. Consumers show a strong preference for gift, prepaid and branded currencies: (Runa’s State of Loyalty Rewards):
- 21% prefer an open-loop card from Visa or Mastercard
- 17% gift card from a specific retailer
- 10% gift card to restaurants
- 7% experiential rewards
- 6% subscriptions
But it’s important to know consumers' reward preferences vary based on location. For example, US consumers prefer open-loop cards, while discounts and alternative rewards, such as crypto, stock shares, or NFTs, are preferred in the UK and Germany.
More payout options attract more players. If you only offer one type of payout in limited countries and currencies, you’ll leave gamers dissatisfied, and they may abandon your game.
One half of our survey participants find lack of choice a reason to not continue with a reward program.
Focus on your audience preferences by offering a wide range of payout options. Gamers go to the apps with the best redemptions and payout options, so now is the time to differentiate your game by building out a rewards catalog with a wider selection of retailers, experiences, local businesses and digital assets.
Improve Gaming Scalability
Runa’s digital value network simplifies the process and provides adaptability through one API. Our API removes the need for numerous integrations, enabling gaming developers to efficiently work with preferred digital value and asset types across various regions. As developers create more localized redemptions rewards, they can launch into new regions, launch new payment and launch payout options within a shorter timeframe and scale faster. Integrate into the Runa network with one API to generate revenue streams and reach new gamers through Runa’s network in 30 countries, 18 currencies, and 16 languages.
Enhanced Redemption and Payout Flexibility
The Runa network has a wide selection of digital value payment, redemption, and payout methods—including over 1300+ global brands, including gift cards, prepaid cards, subscriptions, donations, and cryptocurrencies, to give everyone your gamers unparalleled access to payouts they love. This gives gaming developers and gamers the freedom of choice and flexibility. You don’t have to worry about the latest crypto digital wallet trend. Payout options will already be integrated into the network whenever you want to take advantage of it. Integrating into the Runa network also future-proofs your business and insulates it from integrating payment or payout methods that will eventually fail. You can focus on developing an addictive game without worrying about redemption trends.
Distribute digital value with Runa
The potential for growth is immense, and by embracing the concept of digital value with Runa, you can connect with millions of players, regardless of geographic boundaries, and create gaming experiences that transcend cultural barriers. The future of gaming is global. Schedule a demo today to embrace international opportunities.