Is it possible to do it? And if yes, how? 
Next time please take 30 seconds and search, this post is still on the first site.
Doh sorry very much 
You can lock or erase this thread 
I know this is an old thread, but I’ll put it here if someone stumbles across it in Google while searching for live wallpaper support in Unity, as it is a topic that a lot of people are interested in.
I’ve recently released uLiveWallpaper - a Unity asset that makes it possible to create live wallpapers for Android using Unity 5. It is well-tested and reliable, creates projects for Android Studio, complete with placeholder code to get you started.
Check it out!