The gaming industry is now entering a new era
Gone are the days of mall-based arcades, a pocketful of quarters and enormous standup single-game cabinets. They’ve long ago been replaced by in-home gaming consoles and PC’s. And now, most casual gamers access games that are available to them, 24/7, right in their pockets, on their mobile phones.
But what’s coming next for the industry?
By almost any measure, the gaming market is thriving. Revenues and users grew by an average of 23% last year, even as most other industries suffered under the weight of COVID-19.
To continue driving this growth, the future of gaming will undoubtedly include more augmented reality, more virtual reality, and more virtual, in-game commerce.
In addition to these hot growth areas, the GamesBeat Summit Next conference, (Nov. 9-10) will cover a wide range of gaming’s future, including M&A deals, investments, eSports, blockchain games, and nonfungible tokens (NFTs).
The conference is a must attend for any gaming industry investor.
Now, the biggest driver of future growth may be found in in-game commerce. In fact, it could be the biggest industry breakthrough since the adoption of mobile gaming. In-game commerce has multi-trillion-dollar revenue potential, and savvy investors are already positioning for it.
Right now, most in-game transactions involve digital items like skins, tokens or up-levels.
But new technology, like that from TCI Entertainment, could soon change this all. It could allow for real-world commerce within games. Meaning the purchase of hard goods and services, like attire, food, live concerts and more, could happen during gameplay. And this eCommerce could occur without users ever needing to leave the game to make purchases. An enormous breakthrough.
Last year, eCommerce was responsible for over $4 trillion in global revenue. There are over 2.2 billion mobile gamers worldwide. The technology needed (patented by TCI Entertainment) to bridge these two separate markets could now be close to launch.
It could make mobile gaming one of the largest transactional platforms on earth. One where everything from everyday items like sneakers and cleaning supplies to sporting goods and dental appointments could be purchased and booked inside of video games.
The future of big gaming revenue is in-game commerce.
Learn more about what’s coming next for gaming, and the GamesBeat Summit Next, HERE
Source: https://venturebeat.com/2021/10/01/the-deanbeat-whats-coming-next-for-the-games-industry/