For some, gaming is a way of life. It’s the best way to unwind after a busy day at school or work. Gaming is also a career to thousands of young people. And it pays incredibly well. Top-tier professional gamers make in excess of $100,000 per year. Owing to that backdrop, the industry has been growing rapidly in the past decade. Presently, one-third of the world play online games regularly. With such a huge audience, the future of online gaming looks bright.
Below is a prediction of how the future of online gaming will look like a decade from now.
GameFi to Gain Traction
GameFi is a blend of the words game and finance. It describes the new breed of crypto games that pay you to play them. Last year, crypto games took off in popularity, including in the casino sector.
In the online gaming space, operators like Crypto Wild casino support blockchain by accepting bitcoin as a payment method. Some of them also offer crypto bonuses and blockchain-based slots and card games.
In the video game sector, GameFi is on another level. You can earn digital currencies for winning games. You can also collect and sell digital assets like land, characters and skins.
Some of the biggest play to earn crypto games include Axie Infinity, Decentraland, My Neighbor Alice and the Sandbox. Many of these games have coins whose value skyrocketed during the last crypto bull season.
Cloud Gaming to Become Mainstream
Cloud gaming is on the rise, paving way for the new space to become mainstream in a decade. Cloud gaming eliminates the need to download games to your console or desktop computers.
Instead, games are rendered through remote servers and data centers. By doing so, cloud gaming eliminates the need to own expensive gaming machines and consoles.
Although cloud gaming sounds revolutionary, it is in its baby steps. Companies like Nvidia, Google and Microsoft provide cloud gaming options through a subscription model.
Nvidia’s GeForce Now costs $5 per month to access a wide array of Ubisoft, Epic Games and AAA releases. Microsoft’s Xbox Now works on android devices. However, Google Stadia has been struggling and is scheduled to shut down in January 2023.
Why isn’t everyone playing through the cloud? Cloud gaming is exciting. But it requires fast Internet. For you to stream games in 4K, you must have a pricey Internet package, which isn’t available to everyone.
The main reason derailing the growth of cloud gaming, though, is game support. Most providers have a limited array of games. No one wants to pay a monthly subscription to play games they don’t really like.
The Rise of VR and AR
Virtual Reality is a multi-billion industry. Interestingly, people were predicting the death of VR and AR just a few years ago. How did VR and AR bounce back from imminent failure to become the future of gaming?
The advent of 5G and cloud gaming have been a boon for VR. Fast Internet will help propel cloud gaming forward. And with cloud gaming growing, people will want to purchase VR hardware to experience gaming in a more unique way.
Another reason the growth of VR is increasing has something to do with reduced costs. The space has become competitive, which has helped lower the cost of VR hardware.
Additionally, gaming technology is advancing every year. Next-generation gaming consoles and accessories are essential in fueling demand for VR and AR technologies.
What’s more, it will inspire developers to create more sophisticated games that will be more enjoyable to play with the help of VR.
Streaming will Become More Engaging
Presently, Twitch, YouTube and Facebook are the biggest streaming platforms for gamers. These three platforms allow anyone to provide gaming content to a live audience for free.
To reward streamers, Twitch features subscriptions. It also allows content creators to monetize their channels through affiliate marketing and by selling merchandise.
The problem: Many streamers have a problem attracting regular viewers. For streaming to become more successful, it requires an engaged community. And people can only engage with content they like.
This will call for streaming platforms to expand their offerings. Twitch is already doing this. It’s no longer a platform for gamers playing games only. Some people do nothing more than chatting with fans. Others are tutors, comedians, and creators of non-gaming content.
With that in mind, the types of games available on streaming platforms will become diverse. Presently, the most popular channels stream top-tier eSports games. With time, casino games, puzzles, chess, and mobile games will have a larger share of the streaming market.
Esports to Skyrocket
Esports has been enjoying tremendous support from the media, fans and corporate sponsors in the last decade. It’s now worth over $1 billion. In a decade’s time, eSports is expected to surpass many sports in growth.
There are two explanations. First, the gaming community is vast. As we mentioned earlier, up to three billion people play video games. Nearly half a billion of this demographic follow eSports.
Where there’s demand, there’s money. From game developers to corporate financers, there’s a lot of interest to fund eSports. Finance will help advance eSports games. It will promote fair, international competitions and attractive salaries for pro-gamers.
Better Software and Hardware
In the history of gaming, nothing has been as consistent as the change of gaming hardware and software. Almost every year, there’s new gaming hardware. And new advanced software comes out regularly.
This trend isn’t expected to change and bodes well for the future of online gaming. PS5 and Xbox Series X might look advanced at the moment. But in a few years, new consoles with better hardware and graphics will be released.
Of course, this is good news for the future of online gaming world. The industry wouldn’t be as huge as it is today if developers didn’t insist on innovating better technology. New hardware allows players to enjoy complex games. And advanced software makes gaming more exciting.
The best part of all the change happening in gaming is that it doesn’t always make gaming expensive. Thanks to competition, the industry has been enjoying improved videos for free or at a low cost.