Perfectly timed with the release of the 3G iPhone, Greystripe launched their in-game mobile advertising network which will now be available for the hundreds of iPhone game and application developers who opened up shop in the App Store this past week. As a major player in ad-supported mobile applications, Greystripe now offers iPhone game developers an SDK which integrates advertising and reporting APIs and creates the opportunity to make money off every use of their applications and every play of their addictive iPhone games.

Many of Greystripe’s 120 existing publisher partners, including Amplified Games, Xgen Media, DS Effects, United Fun Traders, Relaxas and Norbsoft plan to offer iPhone games using Greystripe’s advertising technology and will be able to immediately monetize their new iPhone applications. Both existing and new publishing partners will be able to leverage Greystripe’s ad platform.

“We are excited to be launching Cookie Bonus Solitaire, a new twist on the traditional Klondike game, with the launch of the Apple App Store,” said Tom Hubina, CEO of Amplified Games. “By making it free, ad-supported, and included in Greystripe’s massive distribution network, we now have the best chance to go viral and make significant revenue as an independent game publisher.”

Partnering with Greystripe will allow publishers to rise above the noise of the hundreds of applications being released this week. iPhone publishers who utilize Greystripe’s advertising network not only gain the opportunity to ad-monetize their applications, but they also gain access to millions of users through Greystripe’s 80+ mobile application distribution partners which have already netted over 70 million downloads.

Brand advertisers have an enormous opportunity because of the massive engagement and usage statistics of iPhone owners; according to an M:Metrics study, 84.8% of iPhone users used their browser versus 13.1% overall. According to a recently released Consumer Insights Report from Greystripe, mobile ad campaigns from advertisers such as Best Buy, Yahoo!, eBay, New Line Cinema and the US Army have seen an average 10.1% click-through rate with consumers across all devices.

“The iPhone fulfills brand advertisers’ demand for 100% share of voice – being the only advertiser on the screen, deep engagement with the end user, and a targeted demographic,” said Andy Choi, CTO and Co-founder of Greystripe. “It’s been a blast integrating the iPhone’s killer features – the tilt sensor, GPS, and the massive touch screen – and creating a complete advertising solution that’s backed by our proven ad and distribution network.”

Greystripe’s iPhone SDK supports standardized, full screen square (320×320) advertisements to provide advertisers a new canvas size for their brand messages in pre-, interstitial and post-roll inventory. Application and game developers can add Greystripe’s iPhone APIs and start monetizing their content immediately by signing up here.