The online gaming and eSports market are growing so fast that it has been tipped to receive an endorsement to be included in Olympics. And that’s no joke for an industry that could see revenue of $300 billion by 2025.
The robust growth presents unique opportunities for hardware and software developers in the gaming industry. Electronic sports have given rise to well-paying careers and it has been suggested that it will be available in the Olympics like popular “sports”.
Olympics boss, Thomas Bach, states that despite the peculiarity of video games and eSports, some of the biggest stars in the industry will in the next decade find themselves competing for gold in the Olympics. So far, the IOC has been in discussions with industry players, and they have acknowledged the progress. Big companies such as Activision Blizzard Inc. (NASDAQ: ATVI), E-Play Digital Inc. (OTCMKTS: NWKFF) and Electronic Arts Inc. (NASDAQ: EA) among other companies are already revolutionizing the industry.
Other innovative companies in the industry, such as Versus Systems Inc., are adopting changes that are helping to transform the industry. Versus Systems (CNSX: VS) (OTCMKTS: VRSSF) offers prizing for players in-game. It has a platform that allows developers to offer prizing in different platforms such as PC, online, console, and mobile.
The company operates a business-to-business software platform that game developers and publishers use to offer prize-based matches to players. The company has developed a unique consumer platform for registering and managing player accounts. The Vancouver based company is already cutting a niche for itself in the growing industry. In the event eSports become mainstream enough to qualify for Olympic inclusion, Versus could be among the companies that will define the industry.
eSports has so much potential
In July last year, the IOC and the Global Association of International Sports Federation had discussions with gaming and eSports firs on the possibility of eSports becoming mainstream games. The eSports industry is full of potential, and the IOC might want a share of the huge revenue the eSports industry generates and importantly, its young and broad audience base. However, getting eSports to be part of the Olympic Games will take some time. That is because no organization in the world represents the industry so that it can align with the Olympic rules, regulations, and values. Because of this, the eSports Forum doesn't see online games being included in the Olympic program from now.
eGaming and eSports is already a multibillion industry and growing fast. Companies like Versus Systems are finding ways to enter the industry with new approaches, such as the company’s WINFINITE platform. Following the official launch of WINFINTE software development kit in June, game developers and publishers can now use the Unity engine to offer players in-game contests, as well as sweepstakes. Developers increase engagement and retention rates with the use of the WINFINITE platform. Versus System stands to generate returns on signing licensing deals as the platform continues to elicit strong demand with game publishers and developers.
Versus already leveraging partnerships
For starters, Versus Systems has inked a strategic partnership with Ludare Games Group. In its agreement, Ludare is to integrate WINFINITE platform on its upcoming games including augmented reality games.
In addition, Versus System has also inked a partnership with a major multinational consumer electronics company that has agreed to leverage WINFINITE technology in its games before the end of the year. HP, Inc. (NYSE: HPQ) is also the latest high-profile company to take note of Versus Systems games reward platform. The tech giant has since signed a licensing agreement to integrate the technology into its products and services.
In a bid to get WINFINITE to as many developers and publishers as possible, Versus Systems has entered into a marketing agreement with Los Angeles based Radley Studios. The marketing partners is tasked with the responsibility of introducing the WINFINITE technology to entertainment, as well as the media and advertising industries.
GameCake is another developer and publisher that is leveraging the WINFINITE technology but in a unique way. The publisher of Emoji Charades has launched prizing through the platform, offering multiple in-game promotions to winning players.
eSports could make the Olympics as early as 2028
The Olympic Games are no doubt changing, and the venue is transforming to accommodate all people. For instance, there are additions to the Olympics 2020 in Tokyo after skateboarding and surfing were included. And from the look of things, eGaming is next big thing to make a debut at the Olympics.
In the past few years, the idea of eSports featuring in the Olympics has been knocked, but with new considerations it seems it could emerge at the 2028 Los Angeles Olympics. In 2017 the co-president of the Paris Olympic bid committee said the option of eSports in the Olympics was being explored. He added that youths are interested in eGaming and they are trying to see whether it is possible.
Going forward, it seems eSports may find its place in the larger mainstream, and companies in the gaming industry should prepare to become “real sports” for Olympians. Leading companies that have been transforming the space include:
Activision Blizzard Inc. (NASDAQ: ATVI) focuses on the development of video games consoles and gaming content for PCs and mobile devices. It has more than 354 million monthly active users and owns Overwatch league, which has 12 teams now. It is planning to develop an eSports league for its Call of Duty game.
E-Play Digital Inc. (OTCMKTS: NWKFF) focuses on the development of mobile games and live video games in eSports and entertainment augmented reality. It offers interactive white-label video platform with solutions for promotion and campaigns for various brands.
Electronic Arts Inc. (NASDAQ: EA) is one of the popular eGaming companies that produces games for PCs, mobile devices, and consoles. It develops its software that it licenses to other companies. It has more than 300 million players and is known for brands such as "FIFA and EA SPORTS."
For a more on Versus Systems and the broader eSports industry be sure to view the report at Equity Insider: https://equity-insider.com/2019/08/25/whats-shaping-the-digital-ad-market-and-where-is-it-headed-in-the-future/
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