Online gaming is already a huge industry, and it’s booming further. The gaming industry is worth $180.3 billion in 2021. As the online gaming industry heads for the top, the genres of the games are expanding too, and more people are moving towards this business.
New trends such as artificial intelligence and virtual reality are being incorporated into the games to give a more wholesome experience. Today, gaming is not just for the kids or to pass the time. Science has shown gaming to improve mental health, intellectual ability, reflexes, anxiety, and more. If played in limits, online gaming is a productive endeavor.
What can you expect from this billion-dollar industry right now and in the future? Let’s find out.
Online Gaming Industry – Not a Leisure Activity Anymore
More technologies are being introduced in the latest versions of online games. In reality, some people are not just playing games as a hobby. It has grown to become their main source of income.
There are YouTubers making millions by playing games and showing strategies to win levels on their channels. Online games are fast entering the era of utility. Here’s what’s happening currently and where the industry is moving towards the future.
New Gaming Genres Take Over
Multiple player games have been around for a while, but with augmented reality and virtual reality embedded in the latest versions, MMO and multiplayer role-playing genres are breaking through the roof.
You are not only able to play with other players and collaborate, but there are also features for online chats, video chats, bringing characters into your real-life surroundings, such as in Pokemon Go, and immersing yourself in the gaming experience as if it is happening in reality.
VR and AR games are not huge just yet. There are only a few companies that provide games with VR and AR support technology. One reason for this could be because virtual and augmented reality technology is expensive as of now. As it becomes more commonplace, the price might come down. For now, not many people can afford to play these games.
In online gaming, mobile games also get serious traction with live interaction features available on mobile apps. The use of mobile phones for carrying out multiple tasks is growing. They are not only a source of communication but also a gadget for gaming, streaming, blogging, making videos, and more.
Metaverse and Utility NFTs
This concept is probably about to bring the biggest change in the online gaming industry. Utility NFTs will allow players to access exclusive perks, win big, and even make passive income by hunting down tokens hidden in the game.
Online games with NFT utilization and cryptocurrency are gradually making their way into the market. As Web 3 becomes more popular, NFT games will increase in popularity too.
These games use VR and AR to build a whole virtual world called the metaverse, where you can live with a virtual identity. Crypto is the currency used to navigate in NFT games.
Cloud gaming enables you to play the games hosted on someone else’s server just as you stream Netflix shows, which are hosted on a server somewhere else. You don’t need a DVD or CD for watching movies on Netflix. All you need is a subscription. Similarly, you will be able to play games without needing physical equipment or ownership of the games. You will be able to rent out from some other company on subscription.
Big-name companies like Google and Amazon have already ventured into cloud gaming, and some others like Netflix are seriously considering making cloud gaming a part of their business model. Cloud gaming leveled up to a $1.6 billion industry by the end of 2021 and had over 23 million paying customers.
5G Gaming for Quick Server Response
Multiplayer games are the most popular genre in the world right now. With this popularity comes the issue of delayed response time between action by the player and the reaction of the gaming server. The emergence of 5G technology is expected to put an end to the lag of reaction.
5G technology will especially make the cloud gaming experience very smooth. The latency of 5G is extremely low as compared to the 4G technology, which ultimately leads to better performance of online gaming. Moreover, 5G supports more connections in a square mile, which will allow more players to connect to a cloud server for gaming. This is especially beneficial for people living in areas with high urban populations.
NFT and multiplayer games are two of the more trending concepts in online gaming, perhaps due to utility effects. You are not just playing a game but living a virtual life capable of income, providing you with serious perks.
Which multiplayer game are you trying to crack nowadays?