This February, The Fintech Times is taking a deep dive into the world of gametech. Grab your headsets and controllers and plug in to hear about the latest tech and celebrities influencing the market to the development of eSports and much more.
The cloud has started to filter into every aspect of fintech, as well as other industries, with Gametech being no exception. Though cloud has enabled games to be brought to life with improved back end infrastructure and allowing games to be played no matter what hardware you have, there are some in the industry who think negatively. This begs the question: is the cloud in gaming is a success story or a fairytale gone wrong?
Tobias Batton, CEO and Founder of Ex Populus, believes it’s both: “It’s a fairy tale in the making.”
He continued: “The cloud brought games to life by enabling a flexible, scalable infrastructure, but it hasn’t been without its problems. With Web3, Game tech can evolve with heightened security and a boundless community.”
However, JP Lee of VanEck, said: “Cloud gaming gets a bad rap and is similar to the VR and metaverse story. There’s a lot of chatter about it, and a lot people talking about cloud gaming, without defining what the terms are or what the goal should be. Cloud gaming is when the gamer no longer has to purchase the hardware to run the game. It means that as a gamer, I no longer have to buy a PC or a console, and that I can just plug into the internet with a browser and start playing the games I want seamlessly, from any location.
“Surprise! That’s already a reality! There are multiple cloud gaming services available to consumers around the world today, and I think it’s going to be the tech conglomerates (Microsoft, Google, Apple, etc) that are going to be able to fully realise the goal. Xbox GamePass Ultimate subscribers can already access their library of cloud games if they are in a hotel room, or in the airport playing on their phone.
“The current drawbacks really centre around the titles in the library and latency. Gamers want to be able to play ANY game they want at any time, and they want that gaming experience to be seamless and flawless. The library issue is being addressed in real-time, as the conglomerates either launch their own studios or aggressively pursue others in M&A activity. Microsoft’s purchase of ZeniMax in late 2020 was a big deal because it gives Microsoft the ability to make all future Elder Scrolls and Fallout titles exclusive to Microsoft’s ecosystem. So that’s a huge draw for somebody who is trying to decide between Microsoft and Playstation and loves those titles if Microsoft makes them exclusive (hint: they probably will!).
“The conglomerates are looking out 5 to 10 years on these types of big-ticket acquisition because eventually, the tech infrastructure is going to allow that seamless gaming experience. It won’t matter what hardware you have, but it will matter what games you can access.”
Blockchain
Blockchain is also a popular feature in games, receiving similarly mixed reviews. Eyal Melnick, Creative director at Oto Motors, said:
“The combination of games and the blockchain is the true revolution in the gaming universe allowing players to enhance the experience of owning a digital asset. Enabling owners to track asset properties and enhance the utility. Furthermore, the nature of the blockchain enables pure non-fungible asset tracking down to a binary level. The Metaverse on the blockchain is the most efficient and optimal environment to enhance gaming and revenue generation.”
When it comes to the Metaverse, it is widely believed that this will be the next evolution of gaming, with AR and VR taking a front seat.
There are many waiting in eager anticipation for this shift, but there are some who think that world is still very far away, particularly with some AR and VR elements.
On this, Amir Bozorgzadeh, CEO and co-founder of Virtuleap said: “More like a FairyTale that is in constant experimentation. There are a number of success stories in which VR and AR devices are being used to promote healthcare and educational experiences. The FDA created a dedicated category for the sector called Medical Extended Reality just last year, and has already given breakthrough designations to a few companies, like AppliedVR, for use cases like pain management that can be prescribed instead of opioids and the like. What is needed most in this industry is patience and a refusal to buy into the hype.”
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