Tyroo, an ad tech platform, has launched its new gaming vertical, Comet in APAC.
It said that taking the unique opportunity of the Metaverse, gaming is set to be the next big brand space for businesses to shape consumer experiences. With 11% of regular social media users and 56% of influencers already believing they actively participate in the Metaverse, the Indian domestic market expects a growth of more than 1500 CR in 2023.
Additionally, e-sports consumption accounts for 26% of the global internet consumption at present, creating multifaceted revenue opportunities for gaming in the metaverse.
With Comet, Tyroo initiates its journey into the vast metaverse of opportunities that lies ahead. The brand seeks to curate customer-centric experiences through in-game offerings, e-sports solutions, and creating Metaverse IPs for brands.
The company’s efforts are well-guided, with 41% of regular social media users indicating that they believe social media is going to be soon replaced by Metaverse. Additionally, 38% of gamers into Roblox and Fortnite, enter these worlds to socialise along with gaming. Thus, with highly augmented online gaming, live entertainment, and social media interactions the global Metaverse revenue opportunity could approach $ 800 billion in 2024.
Siddharth Puri, CEO Tyroo, said, “Comet comes at a time when the synergy between consumer experiences and brands is at its prime. While Gen X and Millennials shift from social media (a well-tapped space by brands), Gen Z is a generation that socialises via virtual activities and augmented reality. If anything, the last two years has accentuated this effect, and presents a key moment of integration for all generations into this space of opportunities. We believe Comet will emerge as a unique business solution, for brands across verticals to make a play at capturing the extremely engaged audiences of the world of gaming and esports. This opportunity will help brands to access the Multiplayer world through AAA titles, shape experiences powered by augmented reality, boost creator productivity via NFT/shopping goods of the Web 3.0 and community building via interactive ownership of assets.”
“Tyroo Comet is set to bring this market together under a single umbrella. The unique deliverable from Comet includes technology that will enable greater transparency, measurability, and accountability pertinent to brands quickly moving into this space. We will tap into the gaming ecosystem that’s at the forefront of the virtual world and seek to on-board early adopters of Web 3: Genz, Web3:0, uber savvy audiences who are already present in several gaming universes,” added Akshay Mathur, CRO Tyroo.
Additionally, with the focus on APAC audiences, Tyroo seeks to foster an open decentralised environment to celebrate, engage, and create larger-than-life social experiences using Virtual Worlds. The brand also plans to introduce some top AAA labels to the advertiser community through partnerships.
India is currently home to over 430 million mobile gamers and the number is estimated to grow to 650 million by 2025. Additionally, Tier-III cities have joined the bandwagon resulting in 100 - 200 % growth. As most gaming companies in the country struggle to reach a target audience that’s unique to their domain and tap into the Gen Z consumer base with sufficient sustainable purchasing power, Comet seeks to leverage this market opportunity and bring together consumers from various walks of life, like housewives, mothers, senior executives, irrespective of their age, gender, location, etc initiating communication between brands and consumers.
Tyroo’s funnel focuses on mobile gaming even at its preliminary stage encompasses e-sports, game streaming, content creation, and ends up in a confluence of commerce.