SEAGM joins talk on the Evolution of the Gaming Industry, hosted by Xprenia. Paddy Tan, a renowned business and technical strategist moderated the event on Thursday, October 18, 2021. In addition, other panelists in attendance are SEAGM’s very own, Senior Marketing Manager, Raymond Foo, and Growth and Marketing Director of AdColony, Adrian Watkins. Unfortunately, CEO and Founder of Utomik, Doki Tops, was unable to attend the event on this occasion.
The Gaming Industry
As we know, the gaming industry is a fast growing market with over 2.7 billion gamers worldwide. Therefore, this is an exciting time ahead for the gaming industry and for business leaders alike to learn on games distribution and marketing in the near future with new technological innovations like the emergence of metaverse, hence, the theme for the subject topic in trend. The industry’s $155 billion in revenue generation in 2020 is commendable. In return, this extends the potential to generate more than $260 billion in revenue by 2025. Speaking of the huge impact of the gaming world that is no longer niche as it once was 30 years ago, Raymond shares his knowledge specialty on gaming platforms.
The future of gaming with new emerging technology
Where SEAGM is concerned, Raymond stated,
“Our platform act as payment gateway to game publishers, game content creator, subsequently linking game publishers and gamers. On that note, accessibility and localization are important, such as, gamer’s favorite payment, local currency and the availability of local game card/top-up. With that said, metaverse may change the gamer’s behavior. This includes the possibility to enable crypto, play to earn – NFT game transactions.
He added, “Understanding the gamers needs and interest is crucial for gaming business leaders. In addition, offering the latest gaming products to players and building the community to leverage on the trending platforms is also pivotal for business growth as they set to take on 2020s technologies’ advancement.”
Riding with the changing time
The pandemic has changed the way many businesses operate. In this regard, Raymond shares how the Covid-19 Virus outbreak has helped to push his organization’s business to new heights. He knows that as a marketer, it is important to switch strategies by transforming to a full online platform. Also, to create engaging and interactive content, such as live streaming, social contest and etc. In retrospect, social games brings people together, namely, the recent big hits: Animal crossing, Minecraft, Roblox, Among Us, Overcooked, etc.
What’s next in gaming
Where NFT games are concerned, EA and Ubisoft have announced their plan to develop NFT/Blockchain games.
To this end, game designers no longer struggle of how to make money from Free-to-play game. In fact, they can sell their game asset in the Play-to-earn NFT game. Similarly, brands should leverage on data, identify their potential customer, in order to target them efficiently. Moreover, this experience changes as Microsoft is planning the Metaverse app for the likes of Xbox and PlayStation VR headset since 2016.
Splitting the pie amongst many game developers
In summary, game developers can now look towards offering an array of opportunities for gamers with wider choices. Together with new technology devices, transformation can be seen from gaming consoles to mobile phones, to virtual ecosystem. In this regard, SEAGM gears to develop the M-Commerce (Meta Commerce) business model. Raymond believes in SEAGM’s future for business growth as they continue to progress with their high efficient bottom-funnel strategy.