State of the Market
The internet is evolving from “read only” websites through “read and write” platforms to “read, write and own” Web3 metaverses. Gaming is the new technology paradigm as much of the digital activity (e.g. search, social, shopping, live events) will increasingly take place INSIDE the game environment. AR/VR are on the verge of wide scale adoption as metaverse initiatives are increasingly dominating current awareness trends. However, they are devoid of any meaningful interoperability.
Game-play patrons will grow from 3 billion to 5 billion in the next decade. Game-play revenues from console, PC/Mac and mobile are projected to exceed $195 billion by 2024. Gamers will spend an average of $21 USD per month on in-game activities. Gamers' average daily time spent by + 18 year old patrons will approach two hours daily by 2024 growing at a 3.4% CAGR from the 2020 reference year. Gamers tend to be young and affluent or older and college graduates. Both groups have unlimited mobile data plans allowing them to spend as much time playing as they like.