17 November, 2023, 08:00 ET
Fully Stocked in App Gaming Store Unveils "G-Commerce" or "Gaming-Commerce" Enabling Winning and Trading for Consumer Products from Scooters to Toasters
Trading Marketplace Allows "Stars" Winnings to be Exchanged by Both Free and Real Money Gamers
MUMBAI, India and TORONTO, Nov. 17, 2023 /PRNewswire/ - QYOU Media Inc., (TSXV: QYOU) (OTCQB: QYOUF) a company operating in India and the United States producing and distributing content created by social media stars and digital content creators, has announced that its newly launched casual mobile gaming app, Q GamesMela, has moved from beta to full release of its in-app trading and e-commerce storefront. Entering the world of what is becoming known as "G-Commerce" or "Gaming-Commerce", the storefront provides the opportunity for players to maximize their winnings by trading them for real products available in the Q GamesMela store.
This unique and groundbreaking feature provides a new added dimension of rewards and monetization wherein winnings can be exchanged for actual products. Q GamesMela winners of free games are awarded "stars" that can be stored in their in-app wallet and exchanged for products. In addition, Real Money/Cash gamers can also go into an in-app inclusive "Star Store" where you can buy and sell stars on an auction basis with other gamers. The intent is the creation of a socially active commerce community where real trading is done among active players to keep them both more engaged and involved, even when not actually playing games.
The online gaming industry has increasingly been seeing a variety of initiatives to drive more commerce through the games themselves. For years, the industry has driven a growing level of in-game commerce where gamers purchase additional merchandise to be used during gameplay. In 2025, estimates show that the market value of in-game purchases in games is projected to surpass $74.4 billion USD.* Recently, online rumors abound regarding the upcoming 2024 version of Grand Theft Auto 6 featuring a greater move into so-called "G-commerce. The games available for players to be awarded prizes in cash or be awarded stars on Q GamesMela include the addictive 2 minute gameplay of LUDO Express along with classic skill based games including Gin Rummy, Solitaire King and Call Break.
The gaming market in India continues to be one of the fastest growing in the world. With an estimated CAGR of 27 percent, industry reports suggest that this market will likely be worth over seven billion U.S. dollars in 2025.** Most estimates predict nearly 450 million gamers across all platforms in 2023 with forecasts for the user base to reach 641 Million in 2027.*** Much of this growth is being driven by increased smartphone penetration and availability of lower-cost smartphones, coupled with more affordable data plans. India's mobile gaming market is expected to generate 4.32 billion downloads in 2023 rocketing past former global leaders including the United States and Brazil.****
Curt Marvis, CEO and Co-Founder, QYOU Media, commented "This is a simple, yet super compelling, addition to our gaming platform. Winners need to be engaged in more than just game play and e-commerce within entertainment and gaming content is experiencing explosive growth. We saw a massive untapped opportunity to include this into our overall experience for Q GamesMela players. In addition, it allows winning and rewards to happen for both free and real money gamers under the same concept of our "star" rewards system, including the use of a trading platform to engage our players and winners. Our early tests have shown great interaction and attraction for this offering and we look to build and grow our commerce offering alongside the pure gaming opportunity as we push the app further ahead moving into 2024."
About QYOU Media
One of the fastest growing creator-media companies, QYOU Media operates in India and the United States producing, distributing and monetizing content created by social media influencers and digital content stars. In India, under our flagship brand, The Q and on connected TV, via channels Q Kahaniyan, Q GameX, Q Comedistaan ,Sadhguru TV and Bollywood Hungama we curate, produce and distribute premium content across television networks, VOD and OTT platforms, mobile phones, smart TV's and app-based platforms. In addition, QYOU has numerous additional content destinations, apps and gaming platforms engaging over 125 million Indian households weekly. Our influencer marketing company, Chtrbox, has been a pioneer in India's creator economy, leveraging data to connect brands to the right social media influencers. QGamesMela is a recently launched casual gaming business leveraging access to the large audience enjoyed by Q India products. In the United States, we power major film studios, game publishers and brands to create content and market via creators and influencers. Founded and created by industry veterans from Lionsgate, MTV, Disney and Sony, QYOU Media's millennial and Gen Z-focused content reaches more than one billion consumers around the world every month. Experience our work at www.qyoumedia.com
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SOURCE QYOU Media Inc.
