Lithosphere core developer, KaJ Labs, recently announced that it was planning to implement Terra Luna Classic (LUNC) as one of the networks in its cross-chain FINESSE games. The next-generation network has now made the decision official. It will burn 2.5 trillion in LUNC used in the network's new FINESSE game series. KaJ Labs will allocate $50 million to $100 million to facilitate the burn during the first season of Finesse.
"The Foundation looks forward to working with the LUNCcommunity on the integration and the roll-out of the FINESSE games," said Joel Kasr.
The highly anticipated first chapter in the FINESSE game series, Shadow Warriors officially launches on Dec. 18, 2022 with LUNC network support and the burning mechanism. The FINESSE games are free to play in PVE mode. PVP requires a purchase of an NFT to fight online 1V1. LUNC will be one of the first networks supported when the FINESSE games launch.
Lithosphere will launch NFT Warriors collection for public sales on Oct. 3, 2022, at 01:00 UTC. Private sale begins on the same day at 00:00 UTC. The INO launch will be conducted on Liquidfty, DareNFT and NFTb.
LITHO
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8833/139192_7650f1d5643fab8c_001full.jpg
There are two chapters in FINESSE game series. Both are mixed RPG play-to-earn (P2E) and can be customized to the preferred style of the gamer. It features different fighting styles encompassing warrior, ninja samurai, knights and vampires. The first chapter is "Shadow Warriors" and the second is "The Kingdom."
The core developers of Lithosphere, KaJ Labs, plans to bring gaming utility to LUNC, while expediting the burning process. The Lithosphere project and the developers are committed to supporting LUNC in additional games and cross-chain dApps.
###
About Lithosphere
Lithosphere is a next-generation network for cross-chain decentralized applications powered by AI and Deep Learning.
Media Contact
Dorothy Marley
Phone: (707)-622-6168
Email: media@kajlabs.com
KaJ Labs Foundation
4730 University Way NE 104-#175
Seattle, WA 98105
Website: https://kajlabs.org
Website: https://lithosphere.network
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139192
News Provided by Newsfile via QuoteMedia
East Side Games Group (TSX: EAGR) (OTC: EAGRF) (" ESGG " or the " Company "), Canada's leading free-to-play mobile game group, in collaboration with Universal Games and Digital Platforms, announced today the worldwide launch of The Office: Somehow We Manage on iOS and Android. The free-to-play idle game is inspired by NBC's critically acclaimed, Emmy® Award-winning U.S. version of The Office which is now streaming exclusively on Peacock.
Watch the launch trailer here . 
" The Office: Somehow We Manage offers players the chance to immerse themselves in iconic moments from the series and connect with their favorite characters like never before," said Darcy Taylor , Chief Executive Officer of ESGG. "Fans of The Office will absolutely feel the nostalgia through this new game."
" The Office: Somehow We Manage reimagines the cast as vibrant, animated characters for the first time, bringing a fresh new experience to The Office fans everywhere," said Jim Molinets , SVP of Production, Universal Games and Digital Platforms. "The game will transport players into well-known and hilarious episodes that have resonated with so many over the years and let them 'clock in' even more time with their favorite Dundler Mifflin employees."
The Office: Somehow We Manage will allow fans to relive memorable moments from the show like they've never seen them before – animated, all while tapping their way to record profits to save the Scranton Branch from downsizing. Featuring accessible gameplay for all types of players, this narrative idle tapper will give players the chance to unlock and upgrade iconic characters and their desks all the while participating in monthly special events for additional in-game rewards.
GAME FEATURES
COLLECT ICONIC CHARACTERS IN GAME
Tap, upgrade, and build desks for favorite characters from the hit NBC comedy The Office , including Prison Mike, Farmer Dwight, Pretzel Day Stanley, and of course, Three Hole Punch Jim, all appearing in animated form for the first time.
RELIVE MEMORABLE EPISODES FROM THE OFFICE [U.S.]
Click through memorable episodes in this free-to-play game, like "The Dundies" and "Dinner Party." Take a seat in Michael's office, get in line for Pretzel Day, or spend the weekend at Schrute Farms. Oh, and watch out for Kevin's famous chili! Additional episodes from all nine seasons of the show will be added to the game on a regular basis.
SPECIAL EVENTS
In-game events will introduce new versions of characters and more memorable moments, along with weekly and monthly special events inspired by elements from the show.
EARN IN-GAME REWARDS TO KEEP THE BRANCH AFLOAT
Manage Dunder Mifflin Scranton with the help of the whole branch! Get new leads and tap away as the in-game rewards start rolling in. Just make sure Michael doesn't spend the surplus on a new plasma TV!
Players can now run the world's best mid-size regional paper company branch in The Office: Somehow We Manage , available now on iOS and Android.
Visual assets for the game, including key art and logos, can be found in the online press kit .
ABOUT EAST SIDE GAMES GROUP
East Side Games Group (formerly operating under the name "LEAF Mobile Inc.") is a leading free-to-play mobile game group, creating engaging games that produce enduring player loyalty. Our studio groups entrepreneurial culture is anchored in creativity, execution, and growth through licensing of our proprietary Game Kit software platform that enables professional game developers to greatly increase the efficiency and effectiveness of game creation in addition to organic growth through a diverse portfolio of original and licensed IP mobile games that include: Archer: Danger Phone, Bud Farm Idle Tycoon, Cheech & Chong Bud Farm , The Goldbergs: Back to the 80s, It's Always Sunny: The Gang Goes Mobile and Trailer Park Boys Grea$y Money , RuPaul's Drag Race Superstar and T he Office: Somehow We Manage .
We are headquartered in Vancouver, Canada and our games are available worldwide on the App Store and Google Play. For further information, please visit: www.eastsidegamesgroup.com and join our online communities at LinkedIn , Twitter , Facebook , and Instagram .
Additional information about the Company continues to be available under its legal name, LEAF Mobile Inc., at www.sedar.com .
ABOUT NBC'S THE OFFICE
Produced by Universal Television in association with Deedle-Dee Productions and Reveille Productions, The Office is a groundbreaking mockumentary television series that follows the daily lives of the employees of the Scranton branch of Dunder Mifflin, a fictional paper company. All nine seasons of the Emmy® Award-winning series are available exclusively on Peacock.
ABOUT PEACOCK
Peacock is NBCUniversal's streaming service. Peacock delivers a world-class slate of exclusive originals, on-demand libraries of hit TV shows, plus critically acclaimed films from the vaults of Universal Pictures, Focus Features, DreamWorks Animation, Illumination and Hollywood's biggest studios. In addition, Peacock taps into NBCUniversal's unmatched ability to deliver a broad range of compelling topical content across news, sports, late-night, Spanish-language and reality. NBCUniversal is a subsidiary of Comcast Corporation.
ABOUT UNIVERSAL GAMES AND DIGITAL PLATFORMS
Universal's Games and Digital Platforms group leverages the vast portfolio of IP and characters from NBCUniversal. The Games and Digital Platforms group is a business unit of Universal Brand Development, which is chartered with globally expanding the company's intellectual properties, franchises, characters and stories through innovative physical and digital products, content, and consumer experiences. The company's extensive portfolio includes properties created by Universal Pictures, Illumination, DreamWorks Animation and NBCUniversal Television and Streaming. Universal Brand Development is part of NBCUniversal, a subsidiary of Comcast Corporation. www.universalbranddevelopment.com .
Forward-looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the proposed transactions described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release. 
SOURCE East Side Games Group
News Provided by Canada Newswire via QuoteMedia
Recently, AAA GameFi MMORPG Bless Global has reached a milestone of 2 million pre-registered players. This is the first time the game has announced its up-to-date information about the beta test. Day 1 retention during beta test is 94% with a user average online time of 218 minutes. This astonishing performance evinces Bless Global is indeed an AAA product with promising prospect to revitalize the GameFi ecosystem. Both mobile versions ( App Store & Google Play) and the PC version will be officially released on Jan 10 . Bless Global will be the pioneer product on PocketBuff, a global one-stop GameFi platform. The eagerly-anticipated game is expected to make an astounding move on the global GameFi chessboard.
Innovative P2E & P2O Integrated Model
Bless Global is published by Tigon Mobile, a subsidiary of the KOSDAQ-listed company Longtu Korea. Based on the original worldview and content of the PC game Bless, this AAA-level MMORPG retains exceptional quality of Web2 games while integrating a new play-to-own (P2O) Web3 gaming model with the fundamental play-to-earn (P2E) concept. The new model prioritizes fun gameplay, sustainable economy design, and autonomy through NFT ownership in the forms of virtual and in-game assets.
As the game allows players to mint their characters, gear, mounts, skins, and other in-game items into NFTs, the interactivity and playability of the assets are taken to the next level.
With epic storytelling and console-level graphics, this AAA GameFi MMORPG vividly depicts a stunning medieval fantasy world while providing diverse gameplay, including strategic dungeons, PvP/PvE battles, item collection, and other progression systems. Granting players the maximum freedom in group dungeon, skill casting, character customization, and skin choices, the game also features elements such as the metaverse, social interaction, and NFTs to advance and expand its gaming ecosystem. It is at the cutting edge in multiple aspects—game production, model design, mechanics design, and the list goes on.
$BLEC Issuance & Economic Model
The initial launch of $BLEC (a utility token designed exclusively for Bless Global) on PancakeSwap occurred on Jan 5, 2023 . Players can follow Bless Global on Twitter to learn more details.
The total supply of $BLEC is 100,000,000. While 90% of it will be released year by year and minted in the game by players, the remaining 10% is reserved for marketing, liquidity provision, staking rewards and so on. Players can mint the Corestals they have in game into $BLEC tokens or open the special Mystery Boxes they have purchased to obtain them.
The supply and issuance of $BLEC is elastic. The internal token circulation consumption model, combined with the deflation-release model, can ensure logical and stable market circulation and build a robust value base.
In-game $BLEC consumption scenarios include:
Consume $BLEC to purchase $BLEC Mystery Boxes that contain highly-demanded, extremely rare, and limited-edition NFTs. The PocketBuff market is the only place selling Mystery Boxes that contain certain rare NFTs.
Dissolve $BLEC into Corestals in game to boost character battle power and enrich your gaming experience.
Consume $BLEC to build up your guild and help guild members to obtain bonuses Corestals.
Consume or stake $BLEC to get an entrance ticket for external events and earn special event rewards.
Special Events & Rewards
As Bless Global is about to go online, players can now sign up for special events to get cool rewards.
GameFi Union DAO Established by PocketBuff
PocketBuff, a global one-stop GameFi platform, has started to build its GameFi Union DAO with multiple partners to enhance the Web3 game ecosystem and attract Web2 gamers to join. The AAA title Bless Global will be the first game available on PocketBuff. Announced publicly, the GameFi platform has already formed partnerships with the following entities. 
Bless Global will be officially launched on Jan 10, 2023 . For those who are interested, please follow Bless Global on Twitter to learn about the latest news and sign up for upcoming events!
Twitter: https://twitter.com/BlessGlobal
SOURCE Longtukorea
News Provided by Canada Newswire via QuoteMedia
Company's Latest TVs Geared up With Luna, GeForce NOW at 4K for More Compelling, All-Around Cloud Gaming Experiences, Plus 2020 Models Now Streaming
LG Electronics (LG) is demonstrating its strong commitment to delivering a premium TV gaming experience that offers enhanced convenience through the new webOS UI featuring a dedicated gaming hub, the addition of cloud gaming service Amazon Luna and buttery-smooth gameplay at 4K 60 FPS streaming via NVIDIA GeForce NOW on its latest TVs at CES 2023.
Popular cloud gaming services, which can now be conveniently accessed from LG Game Card on webOS 2023 simply via voice command * , offer avid and casual gamers alike numerous gaming titles from leading partners such as NVIDIA, Blacknut, Utomik and now Luna and Boosteroid, with no downloads or additional hardware needed. LG's award-winning OLED TVs supply players with the smoothest gameplay courtesy of superior image quality, an ultra-fast 0.1 millisecond response time and super-low input lag, as well as a more personalized gaming experience through various customization features including Game Optimizer and genre-specific picture settings.
Already available in FHD on 2021 and 2022 LG TVs running webOS 6.0 or above, GeForce NOW is now streaming on 2020 models, and will start streaming in 4K on select models later this year, LG TV owners being among the first to stream impressively smooth, highly immersive 4K gameplay at 60 FPS, on the big screen with just a compatible controller.
GeForce NOW is NVIDIA's open cloud gaming service that taps into the thriving PC gaming ecosystem by streaming with world-class NVIDIA GeForce RTX performance. Gamers can play their favorite PC titles already purchased from popular digital stores – including many of the most-played free-to-play games like Fortnite, Apex Legends and Destiny 2 – with and against millions of other PC players. GeForce Now Ultimate members will enjoy streaming at up to 4K resolution at 60 FPS on supported LG TVs, with ultra-low latency that rivals many local gaming experiences.
Accessible from LG's Game Card in the US, Amazon Luna is joining other cloud gaming services on the webOS Home Screen of LG's latest TVs. A Luna subscription offers access to games for everyone, from AAA titles, retro-side scrollers, family games and more, and titles including Assassin's Creed Valhalla, Everspace and Team Sonic Racing , while the Prime Gaming channel gives Amazon Prime subscribers access to various exclusive and free-to-play titles each month.
LG's perfect-for-gaming OLED TVs will be on show at CES 2023 from January 5-8 in the company's booth (#15501, Las Vegas Convention Centre). To keep up with every LG CES announcement, follow #LGCES2023 on social media.
* Voice command functionality varies by content provider and will be available by mid-year.
LG Electronics Canada Inc. is the Canadian subsidiary of LG Electronics Inc., a USD $63 billion in global sales innovator in technology and consumer electronics headquartered in Seoul, South Korea . LG Electronics Canada, with its head office in Toronto, Ontario , is comprised of four business units – Home Appliance, Home Entertainment, Business Solutions and Air Solutions. LG Electronics Canada is focused on delivering award-winning products known for blending style and technology. These innovative products include TVs, audio solutions and portable devices, home appliances, residential and commercial air solutions, computer monitors and laptops, and industry-leading OLED and LED digital display solutions. For more information, please visit lg.ca .
SOURCE LG Electronics Canada
News Provided by Canada Newswire via QuoteMedia
LG Electronics North American Innovation Center Explores New Ideas to Accelerate for Innovation Program with Cohort Led by Digital Health
The LG Electronics North American Innovation Center LG NOVA has announced its new selection of companies in the second annual Mission for the Future Global Search for innovative concepts and transformative solutions that create a positive impact on people and planet. Selected from 2,170 submissions, these companies are joining the LG NOVA program to explore joint business creation with LG NOVA.
A subset of these companies will be presented at the LG NOVA lounge in Eureka Park during CES ® 2023 to visually showcase a vision of the future built with solutions centered on improving the quality of life for all. This year, LG received 752 applications focusing on digital health – lending confidence to a promising future in health and wellness technologies.
"With 800 more submissions than our first search, we at LG NOVA are honored and inspired by the dedication of so many – through their innovative ideas and business concepts – to making a positive impact on the world, true to the goal of our Mission for the Future program," said Dr. Sokwoo Rhee, LG Electronics Senior Vice President of Innovation and head of LG NOVA. "This new selection of companies and our growing LG NOVA universe demonstrate that there are solutions on the horizon with the goal of making the world a better place. We're looking forward to working with these companies to accelerate their ideas to the broader market."
Attendees of Eureka Park at CES 2023 will get an inside look into LG NOVA's unique model of innovation through outside-in collaboration, and learn about companies spanning LG NOVA's focus tracks, including Digital Health, Display Solutions, Environmental-Social-Governance (ESG) & Electric Mobility, Metaverse & Gaming, Smart Lifestyle and Open Innovation.
LG NOVA Mission for the Future 2022 companies are:
The selected companies may have the opportunity to explore the development of joint solutions with LG NOVA, that deliver a better life for people and a better future for our planet. Following the exploratory phase, companies may be chosen for a pilot program or to develop the product or concept with LG NOVA and participating businesses within LG. Some may qualify for potential investments from LG Electronics, LG Display, and other LG NOVA affiliates; and co-collaboration opportunities that may develop into multi-million-dollar engagements as new businesses within LG's global innovation portfolio.
For more information on the Mission for the Future and LG NOVA, please visit www.lgnova.com .
LG NOVA, the North American Innovation Center for global innovation leader LG Electronics, is a team focused on bringing innovation from the outside to LG. LG NOVA is based in Santa Clara, Calif. The center's mission is to build, nurture and grow innovations that impact the future. Learn more about LG NOVA at www.lgnova.com .
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $63 billion global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is 2022 ENERGY STAR® Partner of the Year-Sustained Excellence. The company's commitment to environmental sustainability and its "Life's Good" marketing theme encompass how LG is dedicated to people's happiness by exceeding expectations today and tomorrow. www.LG.com .
Media Contacts:
LG Electronics USA
Linda Quach
+1 408 903 3045
linda.quach@lge.com
Madison Miranda
+1 714 609 0828
madison.miranda@ogilvy.com
SOURCE LG Electronics USA
News Provided by PR Newswire via QuoteMedia
Using Eye-Technologies (IP), Eye-Minders unveils new data on user, enabling stellar consumer experiences in AR/VR/XR
Eye-Minders a leading provider of a disruptive and enabling technology for deciphering one's mind, announced today its first consumer centric solutions, at the 2023 International Consumer Electronics Show (CES) at booth no. 62000.
By analyzing a person's eyes (software), Eye-Minders can provide new reliable & accurate information on user's interest, engagement, feelings & wellness. These new layers of information can help increase AR/VR/XR usage by improving user's wellness (including Cybersickness), enhancing gaming experience and improving monetization.
"Cybersickness (nausea, dizziness, headache) is a new challenge impacting 36%-66% of VR/AR/XR users. In addition, stress (caused by bullying, violence, isolation, FOMO, cybercrime), which is linked to social media usage, is expected to increase in the Metaverse. These issues may hinder headset adoption", said Dr. Daphna Palti-Wasserman , founder, and CEO of Eye-Minders. "We're excited to announce our new software solution to detect & minimize cybersickness and stress in various AR/VR/XR applications. Users will be updated when a break is recommended; Parental control can be activated notifying parents in real time when their children are experiencing stress, while they are engaged in the Metaverse; Headset manufactures will be able to continuously improve their headset and app developers will be able to improve user-experience by altering and personalizing content"
Dr. Daphna Palti-Wasserman explained an additional use case linked to gamers' experience and monetization: "Eye-Minders' algorithms can provide continuous, real-time valuable data on gamers' emotional state, level of interest and engagement. This data will help game developers adjust parameters and features to better match the unique profile and gaming abilities of each gamer, thus keeping the gamer longer in the game, resulting in increasing gamers' retention."
Eye-Minders' solutions for AR/VR/XR headsets are expected to be available later in 2023.
About Eye-Minders
Founded in 2018 and led by Dr. Daphna Palti-Wasserman , and a team of experienced multi-disciplinary experts, Eye-Minders has developed a disruptive and enabling technology for deciphering one's mind. The innovative technology is protected by patents and trade secrets, and combines deep-technology, eye-analysis, and AI. The technology was validated by 3rd parties (opinions leaders and clients) and is currently used by clients for overcoming human related threats.
For additional information, contact: info@eye-minders.com or visit our website at www.eye-minders.com/metaverse
SOURCE Eye-Minders
News Provided by PR Newswire via QuoteMedia
Leading consumer electronics manufacturer BIGBIG WON brought its full range of innovative products and technologies to the United States this week to showcase at the world-famous Consumer Electronics Show, better known as CES. The company also unveiled details of two brand-new products at the event, which runs from January 5-8 in Las Vegas .
The company confirmed that its new BLITZ ELITE Nintendo Switch controller and new-generation Rainbow 2 PC controller would land on the market in 2023. The BLITZ will be the first game controller with full mechanical micro-switches on the market. The Rainbow 2 is a continuation of the AURORA RGB System from RAINBOW 1 controller at the same time improved the performance all around by adding the trigger-stop switch, four function buttons, and rubberized grip.
"This CES 2023 is an important point in time for our company," said BIGBIG WON Chief Executive Jiang Kefeng. "On one hand, we have a lot of new products ready to be launched that are in urgent need of B and C-side traffic, while on the other hand, the company needs to build up its brand image now during the start-up stage."
Utilizing CES as a platform, BIGBIG WON hopes to send a clear message to the gaming community that a new challenger has entered the arena, ready and capable of continuously injecting fresh blood into the industry.
In terms of market development, the company aims to solidify its position in the online market in Europe and the United States . BIGBIG WON has been approved for an Amazon Vendor Central account and will gradually establish a presence in the European market through Amazon's official direct sales. Across the pond in the United States , BIGBIG WON will focus on new media operations to gradually build a solid brand image in the hearts of American consumers as this has become a popular approach among Generation Z.
About BIGBIG WON
Established in 2019, BIGBIG WON has positioned itself as a cutting-edge force in the gaming peripheral industry. Key product areas include game accessories covering game controllers, adapters, and gaming headsets. Upholding their infinite love for games, the BIGBIG WON team have accrued nearly ten years of industry experience. They continue to develop and innovate independently with passion, using ingenious product design to create a smoother, more accurate, and realistic ultimate gaming experience. 
The company established a global trademark in 2020 to carry out brand promotion and sales network construction in major gaming peripheral markets such as China , the United States , Europe , Japan , and Korea. The BIGBIG Won team will cover every core detail of fine research and upgrade, hardware, firmware, APP, as well as focusing on professional gaming equipment development, manufacturing, and brand building.
For more information, please visit: https://www.bigbigwon.com
Or follow us on Facebook: https://www.facebook.com/bigbigwonofficial
SOURCE BIGBIG WON
News Provided by PR Newswire via QuoteMedia
The video game investment storyline struggled in 2022 as expectations for the market continued to adjust following the incredible highs seen early in the pandemic.
But while the world of video games has taken an unpredictable path in the past few years, experts told the Investing News Network (INN) it's not time to let disappointment settle in.
Read on to see what industry insiders think about the key gaming events seen in 2022.
Entering 2022, it seemed as though Web3 integrations, such as non-fungible tokens (NFTs), cryptocurrency-based games and even metaverse usability, were set to take over the video game industry.
This idea was based on how gamers have been conditioned to understand microtransactions and in-game digital assets.
The trend garnered interest from both smaller developers already on the frontier of Web3 opportunities in gaming, as well as some of the biggest brands in video games, including Ubisoft Entertainment (EPA:UBI) and Square Enix Holdings (TSE:9684).
However, gaming companies large and small encountered a less-than-friendly mainstream consumer market — gamers showed little patience for additional pricing models on top of what they already face on a day-to-day basis.
Several mainstream video game projects attempting to integrate NFTs and blockchain options faced severe backlash from players. Ultimately, the result was that most video game companies walked back their immediate interest in NFTs.
Also facing troubles was Meta Platforms (NASDAQ:META), the parent company of Facebook, which pivoted toward a new metaverse strategy about a year ago. According to Purpose Investments Portfolio Manager Nick Mersch, Meta struggled mightily in 2022 based on its inability to collect advanced data from users — this was the result of Apple’s (NASDAQ:AAPL) policy rule allowing iPhone users to change their privacy settings for data-collecting apps.
Meta's approach also included a push for the adoption of its Meta Quest VR goggles for gaming, but a report from CNBC shows sales of VR headsets shrank 2 percent in the US compared to 2021, hitting US$1.1 billion in 2022.
“Add in overspending on the VR/metaverse opportunity, and you’ve got an incredibly difficult year for Meta,” he wrote.
With all of that said, it’s clear Web3 opportunities aren’t done yet in mainstream video games. While these trends have so far failed to catch on significantly, there will surely be more attempts in the future.
The year started with several gigantic acquisitions in the video game industry that significantly changed its landscape.
None were more significant than Microsoft’s (NASDAQ:MSFT) US$69 billion deal for Activision Blizzard (NASDAQ:ATVI). While the transaction has not closed yet, it has certainly created a legacy of headlines and heated conversations.
“The question will be if regulators allow it to go through,” Raj Lala, president and CEO of Evolve Funds, told INN.
Just before the end of the year, the US Federal Trade Commission announced it would take Microsoft to court to challenge the deal for anti-trust regulation. The corporate lawsuit capped off a year of tense discussions surrounding the deal's impact.
Chief among the detractors of the gigantic acquisition is Sony (NYSE:SONY), Microsoft’s console gaming competitor. The Japanese company’s gaming division and its executive leader, Jim Ryan, have spent plenty of time slamming the deal.
Debate centers on what will happen to some of the biggest franchises owned by Activision, such as the massively popular shooter series Call of Duty, following the potential Microsoft acquisition.
Sony has pointed out that if the purchase goes through, it will no longer be able to release key Activision games on its PlayStation console; however, Microsoft has countered that its Xbox console has a smaller share of the market than Sony's PlayStation, meaning Sony would face limited downside.
As debate continues about the validity of the deal, investors will be watching which direction the courts go in the new year.
As per usual, while the mainstream storylines in gaming are focused on consoles and computers, mobile gaming continues to represent the market's biggest area of growth, especially in international markets.
According to gaming research firm Niko Partners, the number of gamers in markets like India is only increasing.
Lisa Hanson, president of Niko Partners, said India is quickly becoming “one of the most important markets that we track,” thanks to the quick rise of its user base. “India’s nearly 400 million gamers account for over half of the 788 million gamers in Asia-10 and are a formidable force to be understood and served by developers and publishers,” she added.
However, China, another staggering market for the mobile gaming space, is facing its first revenue decline in 20 years.
Niko Partners projects that revenue from the mainland Chinese gaming market will drop by 2.5 percent year-on-year in 2022 to US$45.44 billion. This forecast includes both mobile and PC gaming.
Moving forward, the firm is expecting improvement with a CAGR of 2.6 percent in the 2021 to 2026 period.
“We observe momentum in the economy, esports, PC gaming, and enthusiasm among China’s 700 million+ gamers,” the president of Niko Partners said.
The gaming industry has been elevated over the years to become a leading entertainment industry and a major engine in the overall tech sector. While the market has come down from its pandemic highs, the future looks bright.
“Gaming has become a key growth engine for big tech companies,” Lala told INN.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.