Published on August 25th, 2019 | by gareth0
Has the Gaming Market Leveled-Up over Hollywood?
Hollywood is one of the biggest businesses in the entire world with nearly everyone knowing its existence. But gaming which was insignificant few decades ago suddenly rose to be a 100 billion business and overtook even Hollywood. Forget the high graphics games nowadays you can even play Bingo card games online. In a recent interview, internet pioneer Mr Bill Louden who is also a non-executive director of a London based OBC (Online Blockchain plc), said that the gaming industry is already bigger than Hollywood and shows a promising future for potential investors and experts in the field.
Some time ago, it was announced that OBC has acquired about 35% shares of an emerging crypto development team called the Encrypted Gaming. Encrypted Gaming has been involved in applying Ethereum blockchains to gaming in order to provide better gaming experience to the users.
The market has shown a lot of promise for further investment in the development of the gaming market. The market is expected to see a massive rise of 13% in the coming year and is expected to cross 200 billion dollars of global worth before 2022. The main rise in gaming has been due to the emergence of smartphones as mobile gaming constitutes a massive total of over 50% share in all of the gaming market.
The whole point of OBC acquiring Encrypted gaming is that they are planning to bring the best of blockchain and create a new generation of games that will be a lot more immersive, real and flexible.
As everyone knows, the gamers have been very flexible while adopting new technologies and they are already using in-game digital currencies for purchases in the game.
OBC CEO Clem Chambers, who is a long-time tech enthusiast, and has been involved with the gaming industry for a long time now, started gaming in the 90s and has seen a long list of advancement throughout his career and it’s his thought that blockchains could revolutionise as it could be the next big thing of gaming due to the expansion of possibilities.
The company Encrypted gaming has been using steam servers for the purpose of development. Steam is the biggest gaming-related platform out there and controls the distribution of over 75% of the games currently in the market.
According to experts, the implementation of blockchains into gaming will be a massive hit and it will improve the experience of the gamers in many new ways. Due to the highly decentralised nature of the technology, players will be able to take different items and companions to other worlds within a proper gaming universe. This in itself sounds very immersive.
Encrypted gaming’s employee, Kyle says that blockchain will allow us to open a wide range of new possibilities for gamers and developers which were nearly unknown in the past. He also said that their partnership with OBC is very vital in creating the universe that they were planning to create. He also said that their new technology will be a transforming force for the gaming industry and will lead to a lot of changes for the betterment.