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It seems like you are accepting the Oscar before you've written your manuscript. Don't 'plan' for this, make your game first. Release it. Then see if people even want to play it. Then see who they are by interacting with them on your discord or here in the steam forum or wherever you decide has the right space for that. Suss out who is willing or wants to do this and has the money to blow on your product.
But ads in games are 100% garbage. Product placement aside from 'in jokes' and 'they also made my steam avatar aren't they cool' is garbage and should be avoided like the plague.
Either you game floats itself, or your game is gonna die, on its own rewards. Keeping it artificially afloat is not really a good plan.
Using your product to advertise your product (e.g. DLCs for your game) is no problem at all.
Using your product to advertise other products of you (e.g. advertising a sequel) should be fine as well.
Advertising anything third party has lots of shades of grey. What you describe can be declared as some sort of Partnership that COULD BE fine. However I would not expect Valve to just handwave it with ease. Because you basically use their plattform to advertise and they wont get any cut from the advertisment revenue...
People pay to buy and play this game. If it is a live game with servers, then your options become "make people pay a modest monthly fee" to cover the charges or "eat the payments out of your profits".
Because advertising in online games *does not work* and *is incredibly invasive* when it isn't specific as Sazzouu suggests. If it's for another of your line, published by you, etc, that's usually in fitting with the product they're already playing and isn't jarring to see.
But... For a very short time - less than half a year I think - city of Heroes had "billboard ads" in the game.
They wound up being for things like running shoes and lingere or something else like that which had *absolutely nothing* to do with either the game's contents OR the people playing it.
Pretty shortly after that was put in the dumpster where it belonged, the in-house people made fun in-universe advertisements for those billboards, and no one complained ever again.
But also all that required an entire bunch of new code to insert those ads on the drive of the user's computer, because they can't be server-sided. Since also you have to remember - regional ads are important since not all products can or should be advertised in some world regions. If your game is played by people in very disparate countries, guess what: that lingerie ad might be *actually illegal*, or those shoes *cannot possibly be purchased* there.
My prior statement of "don't" stands.
AAA developers tried this long ago. It never worked out for them and turned gamers away.
I don't think it against Valve's rules, but would likely gain you a poor reputation and turn many away from your games.
Also just as with movies and TV series, even the brand/style of clothes your character wears, The make and model of the guns, the model of car driven, the logos seen . etc, these are all forms of advertising that can be monetized, and I think have been in one form or another.
People pay a lot to put their ad on your car window
https://www.wikihow.com/Sell-Advertising-Space-on-Your-Car-to-Make-Money
Just because a service is offered, doesn't mean anyone actually uses it or uses it to the extent that players in a game would pay for.
My old housemate had a successful race car (among the first fully electric race cars and could easily compete with traditional ones) and put ads on it. He made... maybe 50 bucks. Ever.
Marketing comes up with a lot of ideas. Most of them are junk.
Still to the OP: make your game FIRST. study your players responses, interact with them, know what the audience you have cultivated are interested in. Only then, should you even bother trying to find other ways to insert money into the game.