If you’re old enough, you’ll be able to attest to the seismic changes in gaming technology over the last few decades. Early gamers were lucky enough to begin playing when it wasn’t considered cool to indulge in this form of entertainment. The reputation of people in this space went from negative to positive, but there’s still work left to do. Today’s piece takes us on a deep dive into what the future might hold for this ecosystem.
The Business of Gaming Personalities
It might come as a surprise to you, but there’s no form of entertainment more profitable than gaming. The music and movie industries pale in comparison in terms of revenue and (sometimes) profitability. It’s safe to say that there’s a decent amount of money available in the space, but for most of its history, the profits and revenues mainly went to studios and talent. Most gamers could not envision making money from the hobby. The last few years ushered in a new reality in the space, where gamblers at Syndicate Casino, streamers, professionals, and enthusiasts can make a decent living doing what they love.
The unfair stereotype of gamers being uncool, weirdos, and unemployed did lots of damage to professionals. Fortunately, people like you and I can define our personalities as fewer people believe the unfair and damaging stereotypes associated with people in this community. Some streamers make incredible sums each time they stream their gameplay. You can find amazing folks sharing their love and passion through their streams on platforms like Twitch, YouTube, and TikTok. Studios also organise competitions for the best players with incredible prizes up for grabs – a good example is Fortnite.
Online vs Offline
During the early days, people played games at arcades or on old “computers.” Arcades ruled the market for a long time until personal computers became cheap and capable enough to power the best titles. Gaming consoles from Nintendo, PlayStation, and Sega have saturated the market, leading to more demand than ever. People no longer had to wait until they visited arcades to enjoy their hobbies, they could plug their consoles in at home and play to their hearts desires. Handheld battery-powered consoles meant that the new generation could play and have fun wherever they found themselves.
Consoles and PCs ruled the space for decades, and studios primarily made money when they released new titles or sequels to existing ones. The 2010s brought another incredible change to the space as online gaming became the norm due to technological improvements and cost reductions. Studios realised that they did not need to put in much effort to generate revenue. Microtransactions quickly became the main source of income for many studios as the money spent by players to improve their odds of winning eclipsed the amount made from releasing or updating titles.
Micro Transactions
A quick look at the most successful titles of the 2010s shows that most were created before the decade, and others weren’t expecting sequels or significant updates soon. Designing, building, and debuting a game is a financially demanding task, and there’s no assurance of success after investing in a project. Studios were willing to stick to their successful titles while cashing in on micro-transactions.
Microtransactions have changed the ecosystem considerably, with many old players not recognising what the space has turned into. FIFA, 2K, and EAFC are examples of sports titles with yearly releases for new titles, but these iterations barely feel different from what players got the previous year, suggesting that it might be nothing more than a money grab. Studios are unwilling to take the risk of working on new titles, and this might spell doom for the entire ecosystem over the next few years and decades.
Here are some bold predictions about the future of gaming:
AR/VR experiences
Once VR hardware becomes cheap enough to be mass-produced, the ecosystem will see a significant shift to games powered by Virtual Reality or Augmented Reality technologies. Rather than tapping a few buttons on a controller, you might be able to become a part of the experience by being in the middle of the action.
User Generated Experiences
Platforms like Twitch have shown the power of human connections in experiences. People do not only want to play the best games, they also want to watch professionals and celebrities indulge in the action.
Money Grabbing
Studios have shown that they’re only interested in their bottom line, leaving the majority of players to deal with unfair experiences because there are no alternatives. There are games from the mid-2010’s with better graphics than more recent games, proving that innovation has not been the focus in recent years.
Gaming Begins With You!
Some ethical studios are interested in releasing titles geared towards players like you. We should be more willing to support and back titles through crowdfunding and pre-booking. If the major studios won’t serve us, it’s time to back those willing to put players first.
