Even with the pandemic, 2021 was a successful year for the Esports Market due to numerous mergers and acquisitions. Many of these developments continue into 2022 and include new opportunities with the metaverse and VR. Let’s take a deeper look at the top 3 trends to watch for 2022 and for the long-term.
1. The Metaverse & Virtual Reality
With Facebook’s rebranding to Meta and their announcement of their development of metaverse capabilities, a new avenue was created for video game companies to take advantage of this technology for gaming. More time will be needed for full metaverse availability; however, there is now a new frontier to explore and expand for gamers across the world.
Coinciding with the metaverse is a renewed interest in VR technology. Numerous technology companies, including Sony, Apple, and Meta, have all created VR headsets for consumers to experience virtual reality and soon, the metaverse. While it will take time to create this integrated virtual experience, those companies that take advantage of this from the beginning will gain the upper hand in the market!
2. Crypto Business Models
The crypto scene has taken time to gain traction in the Esports Market, but as play-to-earn models become more prevalent, NFTs and crypto are becoming more prominent. Newzoo’s Consumer Insights also indicate an interest among gamers to trade in in-game cosmetics as well so opportunities are present.
Blockchain technology also presents the option to have more secure player to player trading in a unified environment. There will be need for added technical support with blockchain, crypto, and NFTs, but the potential advantages outweigh the costs for long-term financial success.
3. Multi-Channel Media
Gaming companies are realizing the potential of multi-channel approaches to promoting their games through film, TV shows, and other media. Some notable examples include, Netflix’s adaptation of The Witcher, Horizon’s Aloy being featured in Fortnite, and League of Legend’s Jinx being featured in Fortnite.
Dark Horse Comics provides a perfect example of combining comics, film, and TV with brick-and-mortar products like toys and collectible comics. This model helps companies to diversify revenue and discover new audiences. Gaming publishers are likely to place new emphasis on building new channels as more and more companies experience financial success.
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