Gaming innovators seem to be dominating in their sector and having a huge payday as they share in the 77 billion dollars yielded in 2020. As we leap into 2022, get ready to see that number explode as gaming producers collectively grab a hold of the power of monetization and deliver the power of monetization to their users as well.
When factoring in the amount of time, costs, and energy it takes to bring a fun and interactive platform to the world, monetization is king! Creating the app is one thing, but making money off of it is an entirely different beast. With that said, developers must carefully consider their revenue approach but not just one.
Revenue diversification in the gaming world continues to take a front seat. Moreover, incorporating different ways to monetize unleashes a larger audience and user base. Whether it’s rewarded ads, subscriptions, or in-app purchases, gaming studios are finding success in using multiple money-making streams.
Gaming innovators also see value in putting some cash in the hands of their users. Take “earn money to play” for an example. Gone are the days of just playing for entertainment. Gaming studios are now incentivizing both content creators and players to engage in games that allow for cash winnings. After all, who doesn’t want to make money while having fun? Imagine, for example, having the ability to predict the outcome of pop culture, entertainment, or a sporting event. If your knowledge is correct, you get paid for it. In addition, we are seeing celebrities and influencers become gaming content creators. These collaborations are creating a financial win for everyone involved. Both the creator, the player, and the entertainer.
Another rising trend creating fascinating revenue growth involves the psychology of “freemium” games. Put simply, users’ minds are intrigued with the ability to play and download premium games at zero cost. This is achieved by creating the ability to make in-app purchases throughout the game. Not only are they able to play their favorite game uninterrupted by making in-app purchases, but they can also make cosmetic changes. This enhances the gaming experience while putting extra dollars in the pockets of the developers.
Lastly, playable ads, and rewarded surveys are a sweeping trend allowing developers to monetize. When gaming, users have to take a pause to watch a quick ad which can mean the exemption of payment. That’s right! For the user, they get to play for free, and for the developer, they are putting money back into their gaming.
As we look to 2022 and the New Year ahead, we can expect to see an impact on the gaming industry when it comes to the gaming world making money. Don’t get alarmed! We are not going to see the growth in the video gaming mania slow down any time soon. In fact, the global gaming market is expected to reach $256.97 billion by 2025. Many businesses suffered due to the pandemic, but the gaming industry was not one of them. It pushed developers to become more creative and we can expect to see new and innovative gaming be introduced to the market. Also, prepare for a creative twist on the games the older population enjoys, like bingo, puzzles, and simulations. Not to mention, the remastered games and game remakes that people love will be sure to make a big splash. All combined to contribute to the soaring money-making world of gaming.
John Vitti from VersusGame, a leading gamification platform that to date has rewarded its users with more than 17 million dollars simply for being right, had this to say about what to expect in 2022…
“Play to Earn” is going to be HUGE.
Many forward-thinking gaming developers and creators are going to add ways for users to earn money while engaging with their games. It removes the status quo while making gaming more exciting. Now users get to scale their time playing and creators will generate income in a proactive way.
People and companies are going to use games to monetize their meta/web 3 brands.
Gaming is a great way to expose a meta/web brand to the masses. There are so many ways to make this happen. Some of which include; being the featured ad to unlock a game, partnering with a company like VersusGame, or creating a fun gaming app that relates to the business.
NFT games (own what you buy in the game) and online casinos will trend up.
NFT (non-fungible tokens) games are the new craze and the gaming world is jumping on board. It’s a solution for licensing digital creations that cannot be copied. Therefore, when added to gaming, it allows for tokenization and monetization of the games. They are unique and will present many opportunities for users to earn real profits. This will force online casinos no choice but to trend up to keep up with the movement.
It’s obvious that the gaming metaverse is a world of its own. Filled with bursting new ideas and super fans eager to continue their love for gaming and the new incentives and features sure to keep their hands ready to play. It’s keeping everyone happy. The developers are able to monetize in ways they weren’t before. With the multiple revenue streams, it allows for more dollars to be put towards the introduction of new innovative gaming technologies. Therefore, this recreation becomes revolving money making success.
The gaming economy is becoming more and more secure and the long-term potential is exciting to everyone involved. The forecasted growth in the New Year is expected to reach an all-time high. It’s no wonder more leading game technologies are becoming savvier with their gaming features, earning possibilities, and ways to monetize.
