Technology has become an essential component of our modern lives. And when it comes to trending gaming technology in the industry, only futuristic gaming technology has paved the way for numerous opportunities in the evolving virtual world.
The traditional gaming industry has evolved into a different dimension. It provides an immersive gaming experience and lets you earn money while you play today. Today gamers are inclined to explore 3D gaming experiences and connect with other gamers in real-time. Processing large gaming data in real-time requires cutting-edge gaming technology, powerful computers, and very high-speed internet.
Virtual reality provides a truly immersive gaming experience by creating a simulated environment. Virtual reality was used in gaming long before it became popular in other fields like medical, military, and entertainment. VR games need a gamer to wear a headset to experience the virtual world. Virtual reality creates an immersive environment that is closer to reality. VR has come out as an innovative gaming technology that has attracted many individuals and businesses. The virtual reality market is expected to cross the $250 billion mark by 2028.
Augmented reality on the other hand is a subset of virtual reality that overlays a virtual environment in the real environment. Here, an environment is developed using the surroundings. To understand it better, imagine a virtual robot standing in one corner of your room. Pokémon Go is an example of an AR game that uses a mobile phone camera, GPS, and gyroscope to create an AR environment. AR valuation is expected to cross $300 billion by 2023. This growth is primarily credited due to the growing preference for smartphones.
A blockchain is a chain of blocks over the network that cannot be relocated or altered. It is completely transparent in the sense that any wired transaction over the network remains preserved. You can think of it as a database that stores decentralized data of transactions. Blockchain gaming technology received its name because of the way it works. A blockchain collects data in the blocks. Once the block is full, it is linked to the previous block. New information is placed in a new block and this chain continues. It provides a platform for NFTs and cryptocurrencies for secure transactions.
An NFT is a digital asset like an image, video, meme, avatar, virtual land, accessories, and many more. Each NFT has its unique digital footprint and when used over a blockchain platform, it provides benefits like security, portability, immutability, and fair play. Each NFT can be possessed by one individual at a given time. It cannot be swapped for one another. The introduction of NFT has revolutionized the gaming world as it provides monetary gains to gamers too.
The third related item here is cryptocurrency. which is a decentralized digital form of currency that can be used for trading over the network. Cryptocurrency transactions are completely secure, and it uses blockchain technology to record transaction data in the blockchain ledger.
Most of the large service providers like Microsoft, Nvidia, and Sony in this space offer cloud subscriptions. This enables gamers to play games online without worrying about high-end hardware requirements. All you need is a high-speed internet service. Cloud-based games did not meet the expectations after the launch despite creating wild excitement among the masses before its debut. This was primarily due to the scarcity of unique features and certain malfunctions. The year 2022 might see more service providers in the cloud gaming universe. More service providers might intensify the competition, leading to a better infrastructure to improve the overall cloud gaming experience.
Esports is the development of video games to include features connected with professional live sports. This includes audience, sponsors, tournaments and leagues, real stadiums, and salaried athletes or sportspersons. Esports event is scheduled to begin on 13th May 2022 in Southeast Asian games. This much awaited event will be held in Hanoi, Vietnam. Like other digital forms of entertainment, esports gained popularity during the covid pandemic. Esports has generated a revenue of more than $1billion in 2021 and it is expected to cross the $2 billion mark in 2022. Much of this revenue is from sponsorships and media rights. There was an increase in viewership in 2021 and this is expected to break records in 2022.
The Metaverse as we know is the 3D virtual world. This is primarily focused on social connections and gaming. But it is more than that. Big giants are developing virtual worlds to provide an online immersive experience that allows you to socialize, work, play, shop, trade, and do much more. This idea of creating a virtual world expanded its wings into virtual music concerts and many people turned up for these events. Though this concept is in the initial stages of its development, the future seems good. The Metaverse will be using futuristic technologies like VR/AR, and AI to provide a real-time virtual experience and process a huge amount of data for the analysis.
Virtual shopping saw a significant growth of 18 percent in the year 2021. This opportunity was created due to space created by the global pandemic. Many organizations have increased their investment in e-commerce up to forty percent. The Metaverse is beyond virtual shopping, it is more about the experience and not just the possession of the commodities or availing services. The use of artificial intelligence helps in analyzing consumer behavior and shopping preferences. 3D trail rooms and 360-degree virtual views offer an intuitive shopping experience. The use of a digital avatar that looks like the owner and the use of AI to replicate real features like movements, and expressions make this concept interesting. Many investors have shown interest in Metaverse and its future looks promising.
2022 is believed to be a great year for the gaming world so far. Rising competition, the use of futuristic technologies, immersive gaming experience, and innovation are some of the factors making virtual gaming popular. This buzz is generated by the emerging gaming technology mentioned above which promises to break into a new and unseen realm of gaming powered by anticipated synergies. If you are looking for a game development company, consider Juego Studios to transform your game idea into reality. Juego Studios is an award-winning technology company leading the market in game development services. Juego Studios have the finest professionals who excel in game development, VR and AR solution, metaverse game development, and enterprise solutions. Head to the website of Juego Studios to read interesting articles concerning gaming technology.