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New Study Shows Gamers & Game Developers Eager for a Free Market Virtual Item Economy
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86% of Game Developers Believe Tradeable Virtual Items Will Be Even More Important in Future Games
Video gaming has become much more than a hobby for players worldwide. From professional eSports teams to lucrative streaming careers, the gaming industry has evolved tremendously over the past decade. Today, there are roughly 2 billion global gamers who spend over $100 billion on gaming every year, and the majority of this revenue stems from the purchase of in-game items. For example, Fortnite has generated $1 billion in revenue entirely from in-game purchases. While the amount of money players spend on these digital items is staggering, in most cases, the game creators retain ultimate control over what players can and cannot do with the items they purchase. For example, many prohibit the transfer of item ownership and restrict item’s use to a certain game or platform. They can also revoke or ban access to the gamer’s items at their discretion – regardless of how much money the player spent on them. In the end, gamers do not truly own the content that they purchase.
True Ownership – A Future that Appeals to Both Players and Game Creators
To examine this ecosystem in-depth, Worldwide Asset eXchange (WAX) commissioned a study of 500 game developers and 1,000 video gamers in the United States. WAX’s study found that the video gaming community wants more freedom and flexibility over their in-game virtual items, a concept known as true ownership of in-game items. Interestingly, it is not just gamers – game developers want this future too.
True ownership of in-game items – defined as allowing players to buy, sell, trade and use their items with no restrictions from third parties – enables a free-moving virtual items market.
Blockchain Technology Makes True Ownership Possible – and Billions of Dollars’ Worth of Items Even More Valuable
Thankfully, the inception of blockchain technology is radically changing the status quo of video gaming and outdated ownership protocols. And the WAX Blockchain is purpose-built to make true ownership of in-game items a reality. WAX’s study found that game creators are currently missing out on a valuable market segment by failing to enable true ownership of digital items.
For example, 68% of gamers said that they feel players deserve to truly own the items they purchase. Combine that with the 66% of game developers who said virtual items are a pivotal component of their game’s monetization strategy and item value is being suppressed by publisher or developer control. While in-game items currently play a key role for game developers, 86% believe tradeable virtual items will be even more important in future games than they are today.
Gamers and game developers alike see the benefits of allowing players to freely buy, sell and trade their virtual items. According to the survey, 69% of game developers believe when items are freely tradeable, it increases the value of those items, and 62% of gamers feel having the flexibility to transfer virtual items from game-to-game would make spending money on those items more worth it.
And, nearly three-fourths of gamers said they would purchase virtual items if they could use them in multiple games – which is made possible by true ownership. Of game developers surveyed, 84% would create cross-compatible in-game items if the technology allowed them to do so.
“True ownership of digital items is the future of video games. Players and game developers are both eager for a free-moving virtual item market, and the community’s interest will shift towards games that offer this,” said William Quigley, CEO of WAX. “By enabling cross-compatibility, which is made possible by true ownership, game developers can stand out from the millions of free-to-play games created every month and attract the most valuable segment of players to try out their game.”
The Future of True Ownership
WAX found that over half of game developers cited marketing as the highest unforeseen expense in game development. Developers are starting to see true ownership of items for what they could be in the future – the perfect customer acquisition tool. Developers of free-to-play games that enable cross-compatibility of items will attract players who are already proven to purchase in-game items. Since they’re proven to be purchasers of in-game items, they have a much higher propensity to buy more from a new game than players who never spend money on in-game items.
Moving forward, as companies search for new ways to keep their community engaged, it is clear their adoption of blockchain technology and true ownership will play a key role in their success. WAX’s study shows that the emerging market for true ownership of digital items is too important to ignore and the video game community is looking for platforms that offer these opportunities. With WAX’s purpose-built blockchain technology, this future is finally becoming a reality.
About WAX (Worldwide Asset eXchange)
WAX is the world’s first blockchain built for global e-commerce. WAX’s patent-pending blockchain e-commerce platform is the safest and most convenient way to create, buy, sell, and trade virtual items – to anyone, anywhere in the world. The world of digital ownership today is defined by its restrictions. WAX is building a future to where it will be redefined by its freedom. WAX is creating a full suite of blockchain-based tools that allows anyone to trade digital or even physical items instantly and securely, to anyone, anywhere. Participants of the Worldwide Asset eXchange gain access to a global community of collectors and traders, buyers and sellers, creators and gamers, merchants and game developers.
Worldwide Asset eXchange, WAX are trademarks and the sole property of Worldwide Asset eXchange. All other registered or unregistered trademarks are the sole property of their respective owners.
Source: WAX
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EGT at ICE Barcelona 2025: Get ready to be stunned
EGT is prepared to make a long-lasting impression on visitors at ICE 2025, which will be held in Barcelona for the first time. The Bulgarian manufacturer of gaming equipment will showcase its compelling selection of bestsellers and high-potential new developments at one of the largest stands at the exhibition 3F30.
Among the novelties that will arouse the greatest interest will be 2 brand-new slot cabinets – 32-32 St and 32-32 Up. These models will certainly not go unnoticed by the event guests.
On display will be the newest addition to the company’s jackpot family – the 4-level Asian-themed Zhao Cai Shuang Yu. It will reveal the astonishing world of its 2 games, Prosperity Strike and Rising Coins.
The attendees will also be able to see and test the latest multigames from the Supreme Selection slot series. The Mega Supreme Fruits, Supreme Red, and Supreme Buy Bonus Prize Selection will present a lot of new slot titles, offering a perfect mix of fascinating themes, attractive bonus features, and great entertainment.
EGT will show its newest ETG developments as well. Among them will be the 32 T terminal, which will make its debut during the show. It will complement the company’s rich portfolio of ETG products, which are the preferred choice in numerous gaming venues around the world.
Expanding its offering, EGT will present the Supreme Series of game mixes, currently including the Supreme Roulette Union and Supreme Green Union multigames. Focusing exclusively on roulette, the Supreme Roulette Union blends the excitement of classic roulette gameplay with innovative jackpot systems and versatile features. Supreme Green Union combines popular games from the company’s portfolio with roulette, Keno, Baccarat, and Blackjack, offering players a unique and engaging experience.
Numerous new AWP and VLT products, created specifically for different markets, will also be at the visitors’ disposal, as well as the casino management system Spider, which will show its latest modules.
EGT Digital will also present its vast array of iGaming solutions, including instant and casino games, jackpots, and its in-house developed “all-in-one” betting platform X-Nave.
Nadia Popova, Chief Revenue Officer and VP Sales & Marketing at EGT, commented: “ICE is a very important event for us, which gives us the opportunity to meet with industry professionals from all over the world. We will welcome our current and potential new customers and partners at our stand to present them all new products from our portfolio, divided into zones, covering all gaming verticals. I believe in the positive potential of changes. That is why I think that the relocation of the show to Barcelona will open new business horizons and bring many opportunities for building fruitful partnerships, for which we as a company are ready. “
The post EGT at ICE Barcelona 2025: Get ready to be stunned appeared first on European Gaming Industry News.
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Vibra Group Completes the Acquisition of TSA
Go-to LatAm content and platform developer purchases longstanding Brazil-based tech development partner to accelerate growth plans
Vibra Group, the ‘go-to’ content and platform developer for the LatAm region, has acquired TSA, a Brazil-based technology company and one of its longest standing development partners.
The acquisition will further strengthen the award-winning company and accelerate its growth plans with 55 specialist platform development experts based in Northern Brazil.
TSA and Vibra Group have been long-term partners with TSA contributing significantly to Vibra’s technological growth. TSA, which operates under the ServiceNet brand name, also has existing contracts with several Brazilian lotteries including Loteria do Tocantins, Loteria do Maranhao, Loteria de Sergipe and Loteria da Paraíba.
The integration of TSA’s expert teams will immediately enhance Vibra’s platform development roadmap with additional resources dedicated to the Vibra Solutions business unit and will consolidate the Vibra Group’s structure across the LatAm region. The LatAm based team is focused on game studios, Remote Gaming Server (RGS), and Electronic Gaming Machines (EGM). The Brazil-based team specialising in Player Account Management (PAM) and sportsbook solutions.
Vibra’s product strategy is to service every client need delivering a complete solution on three core areas: sportsbook and casino platform with multiple levels of customization and flexibility; content aggregation platform including proprietary titles and third party games from the main brands in the industry; and a state-of-the-art EGM platform allowing operators to distribute products and content through VLT / retail terminals. The group’s 3 business divisions: Vibra Gaming, Vibra Solutions and Vibra VLT / Retail.
Ramiro Atucha, CEO, Vibra Group, said: “We’re delighted to close the acquisition of TSA and welcome the team to the Vibra family. TSA are one of our closest and most trusted partners with whom we’ve closely collaborated across several significant projects as well as ongoing development work, therefore joining forces makes perfect strategic sense.
“Our expansion and first M&A deal follows significant customer demand and growth across the LatAm region in the last 12 to 18 months so the timing is ideal. We’re very excited to have the TSA team join us as we continue our journey.”
Werter Luna, CEO, TSA, said: “We’re thrilled with the outcome of joining Ramiro and the Vibra team after having worked together for so long. The synergies were very clear and both companies know we are stronger together. The future is very bright and we’re ready to go on the ambitious plans we have to significantly grow our business.”
Founded five years ago by a management team of highly experienced industry experts with decades of land-based and online experience, Vibra has emerged as one of the most exciting and innovative content studios and software developers in the industry and rapidly grown to become the LatAm market’s ‘go-to’ partner for local and international operators.
The post Vibra Group Completes the Acquisition of TSA appeared first on European Gaming Industry News.
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GIANTX begins its 2025 LEC journey with fresh faces
The global esports organization GIANTX is ready to kick off its journey in the League of Legends EMEA Championship (LEC), Europe’s premier esports competition. With a revamped roster and a clear goal of qualifying for the 2025 Worlds in China, the team begins its campaign this Saturday with a challenging schedule.
Led by renowned coach André Guilhoto, the roster features Lot (toplaner), Closer (jungler), Jackies (midlaner), Noah (AD carry), and Jun (support). Jackies, the 2024 Rookie of the Year, returns as the only player from last year’s roster. Lot, a standout in the LFL, joins as a promising top laner. Closer, a three-time Worlds participant and North American champion, brings leadership and experience. Meanwhile, Noah and Jun, from Fnatic, aim to establish themselves as one of the best bot lanes in the LEC.
GIANTX continues to rely on advanced data analytics and statistics in building its roster. “We believe in this roster. It’s a mix of hungry, talented players and experienced individuals. This team has the potential to be a strong contender in the LEC,” said David Alonso, GIANTX’s head of esports.
The journey begins on January 18 against SK Gaming (7:30 PM), followed by Rogue (Sunday, 6:45 PM) and Karmine Corp (Monday, 9:00 PM). In the second week, GIANTX will face Movistar KOI, Team Heretics, and G2 Esports, closing the regular phase against Fnatic, BDS, and Vitality. With a demanding schedule ahead, GIANTX is set to prove it is ready to compete at the highest level.
The post GIANTX begins its 2025 LEC journey with fresh faces appeared first on European Gaming Industry News.
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