How to Become a Successful Gaming Entrepreneur
Tech is hiding the lines between the dream world and the real world. As Morpheus explains to Neo in the 1999 film The Matrix, the reality is “simply electrical signals interpreted by your brain.” Gamers use to play an average of seven hours every week, according to a 2019 report by Limelight Networks, and they spend even more time on Twitch and YouTube watching their peers. There is no contest between Games versus schoolwork. Video games are far more thrilling and exciting than algebra.
Players increasingly move forth in their real-world lives viewing adversity as basic gamified challenges to be overcome. So as long as developers have the budget to code a fictitious activity inside a game, a universe of fancy gaming characters will make anything possible. And in return, the entrance is opening for entrepreneurs to monetize people’s enthusiasm for video games and virtual reality experiences. Here are some examples of how you can ahead of the crowd.
Business Opportunities for Gaming Entrepreneurs
The market for renting office space and large properties for esports events is growing 14 percent annually, on other hand companies like Tesla are taking advantage of integration and making games available on their vehicle’s large touch screens.
Innovators may also build more robust hardware, such as headsets, consoles, and gamepads, etc. Considering that Facebook bought Oculus VR years ago, which stated how Big Tech was serious about improving the user experience in digital environments. That sale created a surge of momentum in AI/AR.
Entrepreneurs can also introduce advancement in mobile gaming, including 5G, AI-powered coaching, and in-game advertisements. With gamers thrilled in their world of fantasy, the attention range is extremely monetizable.
Virtual and Augmented Reality
With profits expected to reach $300 billion by 2025, there are two particularly best areas within the gaming industry. One is virtual reality (VR), which allows players to experience gaming from a first-person perspective. Entrepreneurs can create a more immersive success by innovating better headsets, hand controllers, sensor-equipped gloves and other equipment.
And a second area is augmented reality (AR), which combines visuals and audio into the user’s surrounding environment. It’s AR that literally makes it hard to see the line between digital fiction and the real world. Captive is one company seizing the moment by creating an augmented world that allows you to earn real prizes. There’s a scavenger hunt AR game paired with blockchain and real gift rewards (like a signed LeBron James shoe). The application helps drive real business traffic to brick and mortar shops via the scavenger hunt while providing a unique experiential component that helps create brand loyalty.
The complexity and high cost of game development have led to a key trend: cross-platform access and a collaborative approach. Developers are gradually moving away from silos or making a game available on a single platform. That can limit monetization, whereas multiple platforms create access for a wider audience. Secondly, open-source projects allow ventures to leverage the talent pool of a larger global community.
Gamers play on a diversity of devices: consoles, PCs, tablets, smartphones, etc. And they’re also beginning to play on blockchain-powered platforms. In the case of BetProtocol, developers and entrepreneurs can launch their own gaming platform in minutes, as well as integrate cryptocurrency capabilities. This type of innovation lowers barriers to entry. Moreover, tokenization introduces financial incentives that didn’t exist a generation ago.
Finally, there’s 5G gaming. The ultra-wideband network makes the internet extremely fast, and that will significantly improve the user experience when it comes to aspects such as quality graphics for mobile gamers who play on the cloud.