The gaming world is, by many standards, a very chaotic industry where things can change overnight. In this field, new products, whether hardware or software, come out all the time, making it very difficult for users to stay on top of trends and stay on top of everything that’s going on.
Today, it is very difficult to predict how any kind of individual industry, especially a complex one, will fare, but in this text we will discuss how gaming will proceed in 2024, based on the current situation and the following criteria: We’ll explain what’s going on in the industry. Certain trends are likely to move by the end of this year. The current role of technology companies in the gaming industry and the announcement of several events that will change their position will also help predict.
So what’s happening in the gaming world in 2024?
Prices of gaming products continue to rise
Global inflation has irreversibly changed markets, forcing us all to cut spending and monitor prices more closely.
There is a simple rule for businesses in an era of inflation. Companies have to invest more effort and effort to provide added value to customers and maintain sales. In addition to this, today’s companies have to balance prices very well, so the allocation to production costs and employee salaries is increasing, so this mainly means raising prices. To do.
The effects of inflation simply require that the increased costs be passed on to someone else. In the gaming industry and the IT industry in general, it is the customer, as the price of the product continues to rise. Unfortunately, due to the current political and economic climate around the world, this trend will continue with no end in sight.
The gaming industry could suffer if prices reach a critical mass and customers stop spending on new games and consoles.
Video game industry’s biggest expo could close permanently
Some users may have never heard of “E3”. It’s the biggest event in the US, but it’s also the biggest event in the US when it comes to the gaming industry, with a lot of video game developers and publishers in attendance, along with a lot of hardware and game titles. E3 has been a mainstay of the gaming industry for years, and attending live or via livestream has become a tradition for many. Among the gaming systems unveiled at the event were the Wii U, Xbox 360, and PlayStation 3.
The Entertainment Software Association (ESA) and event company ReedPop announced in a joint statement that the annual show will not take place in 2023, or perhaps not at all. The show was scheduled to resume in Los Angeles this June after a long hiatus due to the coronavirus pandemic.
E3, also known as the “video game Christmas” among enthusiasts, has been a mainstay of the gaming industry calendar since 1995, with 66,000 people attending in 2019 before it was shut down due to the coronavirus. I participated.
Cryptocurrencies will become more integrated with video games
Despite the decline in the market value of cryptocurrencies in 2022, their development has not slowed down in 2023.
When it comes to the gaming industry, the reality is that cryptocurrencies have found refuge there, and gamers have nothing against it. Take the game “Axie Infinity” as an example. The game is free to download, but to play he must purchase an NFT (Non-Fungible Token). This practice may extend to many game titles, so you may need to purchase cryptocurrency before you can start playing, or subsequently make in-game transactions to obtain new features. It will become more and more possible.
So-called “play and earn” crypto games have been around for a while, and many gamers spend hours playing them to grow their crypto stash. The global recession and inflation are simultaneously promoting the tendency of people to want to earn additional income, so we are sure that many gamers will find this opportunity in similar games.
Sony’s reaction to Microsoft’s acquisition of Activision is expected
Currently, Sony is being asked to respond to Microsoft’s October acquisition of Activision Blizzard, the American video game holding company behind hits such as Call of Duty, Diablo and Overwatch. The pressure is on. analysts say. The $68.7 billion acquisition is the largest deal in gaming industry history, as well as the largest acquisition in the larger technology sector. The future of the PlayStation maker is uncertain following the completion of a deal that some argue will give Xbox significant influence over the gaming industry as a whole.
Sony is now being forced to sign a high-profile deal that provides it with a key lever to compete with Microsoft’s expanding game development infrastructure. Sony has already expressed interest in additional acquisitions throughout 2023. Back in May, the conglomerate was said to even be considering taking its financial services unit public to raise funds for further M&A. It’s unclear whether Sony will need to take such action to continue its inorganic growth momentum, but one thing is certain: Over the past 12 months, Sony has slowed its acquisitions in the gaming industry. I’m saying that. It completed five deals in 2022, but only acquired Washington-based game developer Firewalk Studios in 2023.
Netflix releases new game for smartphones and PC
It’s been a long time since Netflix released a game, and we’re moving further and further away from the fact that Netflix is just a subscription video-on-demand streaming service. Netflix is very confident that gaming will somehow save it, given the significant drop in subscribers between late last year and early this year.
Judging from comments from Netflix officials, 2024 will be the year when many games will be released not only for PCs but also for mobile phones. We haven’t had a chance to see any PC game announcements so far, so we’re looking forward to seeing what the fan reaction will be.
As Netflix continues to develop its cloud gaming service, it has the potential to expand the number of devices on which you can play and enjoy its growing library of games. Additionally, Netflix is developing the ability to control TV games on your iPhone.
Adding new products within existing subscriptions is Netflix’s plan to restore positive trends in its business.
Metaverse opens new doors for developers and gamers
Despite provoking negative comments and dampening fan enthusiasm, the Metaverse remains a work in progress with Meta CEO Mark Zuckerberg’s plans. Many companies are continuously investing huge amounts of money, and the two most important ones are logically Meta and Microsoft.
Metaverse-oriented game titles such as Sandbox and Decentraland already exist, but there’s a good chance they’ll be even more deeply integrated into the video game world sometime in 2024. Metaverse will definitely try that. Take a new step forward and join a game that characterizes true escapism from the real world. And it seems to us that the current events taking place in the world are the perfect time for something similar to arrive.
I will explain.
Virtual reality (VR) and augmented reality (AR), the two key technologies driving the metaverse, have been shown to be highly effective in changing gameplay. Companies from various industries around the world have the potential to gain trillions of dollars from the Metaverse.
Metaverse-driven games allow you to seamlessly integrate gameplay with other virtual experiences. The benefits of the Metaverse as a technology for developers demonstrate the potential for creativity. Online multiplayer games are becoming increasingly popular because they allow players to create social virtual worlds. MMORPGs (massively multiplayer online role-playing games) like World of Warcraft allow you to create large, persistent worlds.
The metaverse also intersects with eSports. A new paradigm for interactive games is emerging from the convergence of the Metaverse and the competitive aspects of video games. This provides an unparalleled level of social interaction, engagement, and immersion. The Metaverse essentially provides a whole new giant playground for esports, where competition takes place in virtual arenas within the Metaverse, allowing for player-spectator interaction that wasn’t possible before. Imagine being able to virtually sit next to your friends and interact with players during a live esports match, or even enter the arena to see them up close. In 2024, this process could move even faster.
The above means that betting on esports will be possible via the Metaverse. The bookmaker offers bettors his VR experience using the Metaverse gambling platform, created with digital assets and economics in mind. You can easily bet on your favorite sports in just a few seconds using your VR headset, internet connection, and smartphone. To gamble in the Metaverse, you need to purchase certain Metaverse tokens such as MANA, SAND, and BLOK. You can then use these virtual currencies to bet on your favorite team. NFTs are exciting prizes and offers that can be found at casinos and gambling websites. Cryptocurrency-focused sports betting and esports tournament platforms already exist and are featured on His Bookmaker-Expert.com, among the best of 2023 His EcoPayz bookmaker and several others It has been. These provide an ecosystem for gamers, sports bettors, athletes, and fans within the Metaverse.
To create games with 3D virtual environments and immersive experiences, gaming companies may be able to rely on Metaverse developers. Playing Metaverse games allows users to easily enter a vast virtual world with a variety of gaming experiences. Additionally, the Metaverse highlights opportunities to enhance the social and experiential elements within the game. Above all, the Metaverse could be the perfect platform for building autonomous economies using games.
New game streaming services and new consoles could be coming
Newer generation consoles don’t feel all that different from their predecessors. Therefore, I believe that something innovative should happen next year. All things being in place, the assumption is that there will be a new game streaming service or new console that catches up with the times and offers something completely new. And again, we live in very tough economic times, and we need to offer new value to customers who are increasingly price conscious.
In addition to these statements, Microsoft, Sony, and Nintendo were boycotting this year’s E3 even before the event was canceled completely, and there are now confirmed announcements that something big is certain to be announced. has been added. A new cloud gaming service or console could be a goal for these companies, and in particular it could be a cheaper service or a “lightweight” console whose price corresponds to the coming downturn.
But before these three could succeed, South Korean tech giant Samsung announced the launch of its own cloud gaming service. Samsung revealed this information at its developer conference in early October. The service has been in beta since August and focuses primarily on mobile gaming, as opposed to most streaming services that allow users to play PC and console games on a variety of devices. They expect cloud streaming to benefit mobile game publishers by completely disrupting the user acquisition funnel and eliminating the need for downloads, installations, and visits to the App Store.
What do you predict about the gaming industry in 2024? Write a comment on our social networks.