Veve Collectibles (Finally) Brings NFTs to the App Store
This is a single insight from This Week in Apps #87 - That's a Lot of Coin!. Check out the full article for more insights.
It seems like everyone around me this week talked NFTs. Family, the guy who cuts my hair, and even an Uber driver! But I wouldn't bring it up if there wasn't more.
There is.
The Simpson's got into the NFT game this week, as did Marvel characters. The characters were available for purchase for around $60 through a marketplace called VeVe, which partnered with Disney.
The new tokens were released on Sunday and sold out by Tuesday. We estimate that in those three days, users spent $4.8M in the VeVe Marketplace across the App Store and Google Play. however, the majority came from iPhone owners. And that's gross revenue. Apple and Google kept roughly $1.4M of the loot, leaving VeVe with $3.4M in three days.
The shopping spree continued into Wednesday, which was VeVe's best day of revenue. We estimate that VeVe earned $1.3M of net revenue in a single day
Downloads also rose sharply since the new tokens debuted, increasing more than 600% vs. the daily average.
What does this mean? It means that like the way crypto made its way into the mainstream, so are NFTs, thanks to how easy they are to consume via app. Disney's seeing that. Playboy did too a few days ago, and many other household names are jumping on this wagon.
Whether or not you understand NFTs or think they're silly (or smart), I'm pretty sure that now they're available via a user-friendly app, and with big names behind them, we'll see this happening much more often.
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All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.
