![]() The integration of blockchain technology and cryptocurrency tokens has led to various niche games such as play-to-earn, pay-to-earn, and NFT based gaming. With over $4 billion in investments, blockchain gaming is positioned to experience tremendous growth throughout 2023. In 2021, we saw the convergence of gaming, blockchain technology, and cryptocurrency. It seems the future of gaming is in decentralized gaming economies (GameFi). ![]() The introduction of 5G will allow for faster speeds with lower latency. Smartphone computing capabilities have also advanced in recent years and can support higher screen solutions on a much smaller screen. Developers need to create games optimized for a higher number of devices to have a wider reach. As it evolves and users increase, cross-platform development will be at the epicenter of this vertical. Mobile gaming drives the highest amount of revenue in the video game market. Popular social media platforms are also facilitating and strengthening these connections. Streaming services such as Twitch and YouTube Gaming allow viewers to connect with their favorite gamers and watch competitions and live events. Outlined in a report by marketing analytics company, Newzoo, it is estimated that 380 million people will watch eSports by 2023's end. With a global market value of about $1.1B at the close of 2021, eSports is the fastest growing facet in gaming. As new technology enters the market, and with the introduction of the metaverse, there will be a few trends to keep an eye on throughout 2023. Its evolution runs parallel to technological advancement, relying heavily on innovative tools and software. With about 3.2 billion gamers across the globe last year, the industry is poised to generate $196B at the close of 2022. Gaming was one industry that benefitted and grew exponentially during the COVID-19 pandemic. Industry Trends: The Evolution of Technology in Game Development
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