From Metaverse Social Networking Apps To Mobile Games – How Newborn Town Plans To Drive Growth In 2023 And Beyond

From Metaverse Social Networking Apps To Mobile Games – How Newborn Town Plans To Drive Growth In 2023 And Beyond

With the advent of web 3.0, the expectations from social media platforms have seemingly skyrocketed. Users seem to want a more immersive experience than the mere exchange of texts and videos which are on offer on social platforms currently. 

“Metaverse social networking”  – a futuristic version of social networking where digital and physical realities are combined – looks to be a step in that direction. This could be a logical next step for companies who have already made a mark in the arena of audio and video social apps and video games.

Mobile app company Newborn Town Inc. (HKG: 9911) is one such company that has made strides in bringing new social experiences to mobile users with its video and audio social networking platforms MICO, YoHo and Yumy, as well as video games. 

Since its inception in 2009, the company has garnered more than 1.3 billion users – and counting –- in over 200 countries and regions.

Not one to rest on its laurels, Newborn Town reports that it has set itself ambitious goals for 2023, essentially shaped by the rising needs and wants of a generation of millennials and Gen Zs who have made social networking the behemoth it is today.

Mobile Apps – A Market Ever On The Rise?

The global mobile application market size amounted to $187.58 billion in 2021. It is projected to grow at a compound annual growth rate (CAGR) of 13.4% from 2022 to 2030. This includes apps for gaming, social networking, mobile health and fitness, music and entertainment, retail and e-commerce, and other purposes.

Social audio-video networking apps have, over the past years, come to be associated with community building all over the world. Akin to real-time meetups, these virtual platforms’ popularity seems to stem from their ability to enable people rooting for similar causes to join hands and enrich their common passions. 

Audio-video social networking apps are also increasingly being tapped for their expanding reach, as …

Full story available on Benzinga.com