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II. Market Analysis
- 1.Video Game Industry: According to recent market research, the global video game industry is projected to grow at a CAGR of 12.9% from 2020 to 2025, reaching a market size of $354.13 billion by 2025. The increasing availability of high-speed internet and smartphones, the rise of mobile gaming, and the growing popularity of esports and virtual reality gaming are expected to be major factors driving this growth. Additionally, the development of new gaming technologies, such as cloud gaming and blockchain-based gaming, are expected to create new opportunities and further fuel the industry's expansion.
- 2.Play-to-Earn Gaming: The play-to-earn gaming market is relatively new, but it's growing rapidly. According to a report by VentureBeat, the play-to-earn gaming market is expected to generate $100 billion in annual revenue by 2025. The success of games like Axie Infinity, which has generated over $2 billion in revenue since its launch in 2018, has fueled the growth of the play-to-earn gaming market.
- 3.Metaverses: The metaverse market is also growing quickly, driven by the increasing popularity of online gaming and virtual experiences. According to a report by MarketsandMarkets, the global metaverse market size is expected to grow from USD 4.1 billion in 2021 to USD 280.9 billion by 2025, at a CAGR of 509.2% during the forecast period. The growth of the metaverse market is expected to be driven by the increasing adoption of blockchain technology and the development of new metaverse platforms.
- 4.Web3 Technologies: The web3 technologies market is still in its early stages, but it's expected to grow significantly in the coming years. According to a report by Transparency Market Research, the global web3 technologies market size is expected to grow from USD 212.8 million in 2021 to USD 6.6 billion by 2031, at a CAGR of 56.2% during the forecast period. The growth of the web3 technologies market is expected to be driven by the increasing adoption of blockchain technology and the development of new decentralized applications.
- Video Game Industry: The video game industry is poised for continued growth in the coming years, with an expected value of $295 billion by 2026. This growth will be driven by the increasing popularity of mobile and esports games, as well as the adoption of new technologies such as VR and cloud gaming. The industry also has the opportunity to expand its reach into new demographics and markets, particularly with the rise of gaming in developing countries. With the development of Unreal Engine 5, game developers will have access to more powerful and efficient tools for creating immersive gaming experiences. Additionally, the integration of AI in the asset and level creation process can lead to more efficient and cost-effective game development.
- Play-to-earn gaming: Play-to-earn gaming presents a new revenue model that allows players to earn money while playing games. This model is gaining popularity in the gaming industry, and is projected to grow exponentially in the coming years.
- Metaverse: The metaverse presents opportunities for new forms of social interaction, commerce, and entertainment. As the world becomes increasingly digitized, the metaverse is expected to become a major part of our daily lives.
- Web3: Web3 technologies present opportunities for decentralized applications and services that are secure, transparent, and trustless. This presents opportunities for new business models, such as NFTs and decentralized finance.
- Video Game Industry: The video game industry presents a number of challenges for new entrants. With a vast landscape of games and developers, it can be difficult to get noticed and establish a foothold in the market. The cost of game development continues to rise, with increased demand for high-quality graphics and immersive gameplay experiences. In addition, the industry faces ongoing scrutiny over issues such as diversity and inclusion, labor practices, and the impact of gaming on mental health
- Play-to-earn gaming: Play-to-earn gaming faces challenges such as regulatory concerns, game balance issues, and player exploitation. The industry needs to address these challenges to ensure long-term sustainability.
- Metaverse: The metaverse faces challenges such as interoperability, scalability, and user privacy. The industry needs to address these challenges to ensure the metaverse can reach its full potential.
- Web3: Web3 technologies face challenges such as user adoption, scalability, and regulatory concerns. The industry needs to address these challenges to ensure the long-term success of decentralized applications and services.
Tony Hawk Pro Skater 1 + 2 was a successful remake of the classic skateboarding video game, generating over $2 billion in revenue since its release in 2020. While Tony Hawk is undoubtedly an icon in the skateboarding world, StormRiders the ActionVerse has an advantage in that it brings together not just one, but three different action sports: skateboarding, snowboarding, and surfing. By working with multiple professional athletes across these sports, StormRiders can tap into the vast social networks and followings of these athletes, helping to build awareness and excitement around the game. This is especially relevant given the rise of social media and influencer marketing, which has become a powerful tool in the gaming industry. By leveraging the reach of multiple pro athletes, StormRiders has the potential to reach a much wider audience than just the traditional skateboarding community, opening the door to new markets and revenue streams. Additionally, the play-to-earn model and use of blockchain technology further differentiates StormRiders from other action sports video games, providing a unique selling point that can further drive growth and adoption.
Roblox is currently one of the biggest metaverse platforms with over 43 million daily active users as of 2021. The company generated $923.9 million in revenue in 2020, and its market cap has exceeded $50 billion. Roblox's platform allows users to create their own games, experiences, and virtual items, which can then be shared and monetized.
In terms of revenue per user, Roblox made an average of $4.54 per daily active user in 2020, which equates to roughly $0.19 per user per day. It's worth noting that this revenue comes not only from in-game purchases but also from advertising and partnerships with companies such as Nike and Netflix.
While the potential size of a metaverse is difficult to predict, Roblox's success highlights the massive opportunity that exists in this space. With the growing popularity of virtual experiences and the increasing adoption of blockchain and cryptocurrency technologies, the potential for a successful metaverse like StormRiders to generate significant revenue is certainly possible.
Axie Infinity is a play-to-earn game built on blockchain technology that has seen significant growth in the past year. The game allows players to own and battle cute creatures called Axies in a digital world, earning cryptocurrency for their efforts. The game has become popular in countries like the Philippines, where it has provided a new source of income for many people.
In terms of revenue, Axie Infinity has seen tremendous success. According to data from DappRadar, the game has generated over $1.7 billion in revenue since its launch in 2018. In July 2021, the game reportedly made over $130 million in revenue in a single week, making it the top-grossing blockchain game at the time.
One reason for the success of Axie Infinity is its unique play-to-earn model. Players can earn cryptocurrency by playing the game and then use it to buy more Axies or sell it for real-world currency. This has made the game attractive to people who are looking for alternative income streams, especially in countries with struggling economies.
Axie Infinity has also gained attention from investors. In July 2021, the game's developer, Sky Mavis, raised $152 million in a funding round led by venture capital firm Andreessen Horowitz. This funding will help the company continue to develop the game and expand its reach to new markets.
Overall, Axie Infinity has demonstrated the potential for play-to-earn games to provide a new source of income and create economic opportunities for people around the world. Its success has also drawn attention to the potential of blockchain technology for gaming and other industries.
Ubisoft's Riders Republic is another competitive game that has seen success in the market. Since its release in October 2021, the game has sold over one million copies and continues to be played by many on platforms like YouTube and Twitch. This success has allowed Ubisoft to continue updating the game with new features and content, providing players with fresh challenges and experiences. Riders Republic offers players a variety of activities to compete in, including downhill racing, snowboarding, and wingsuit flying, making it a strong competitor in the action sports gaming market
Steep is an open-world snowboarding and skiing game developed by Ubisoft Annecy and published by Ubisoft. The game was released in December 2016 for PlayStation 4, Xbox One, and PC. While Steep initially received mixed reviews, it has since gained a dedicated player base that continues to enjoy the game's expansive open-world and unique gameplay mechanics. The game has also received several updates and expansions since its initial release, showcasing Ubisoft's continued support for the game and its community. Steep has also garnered a significant presence on Twitch and YouTube, with many content creators still actively streaming and making videos about the game. Overall, Steep's success and continued popularity demonstrate the enduring appeal of competitive winter sports games and the potential for similar games in the market.
StormRiders has the potential to revolutionize the action sports and MMORPG gaming industry by taking inspiration from popular games such as Steep, Riders Republic, Kelly Slater Pro Surfer, Tony Hawk's Pro Skater 1+2, and MMORPG games like World of Warcraft and FINAL FANTASY XIV Online. By incorporating elements such as realistic graphics, immersive gameplay, RPG elements, crafting, and themes, StormRiders can create the ultimate action sports MMORPG experience. The game will allow players to engage in a variety of extreme sports, including surfing, snowboarding, skateboarding, and more, in a dynamic and ever-evolving virtual world. The play-to-earn model and Web3 technologies will also provide unique opportunities for players to earn rewards and trade items with other users. With a focus on immersive action sports gameplay, StormRiders is well-positioned to capitalize on the opportunities presented by the underserved niche market and become a major player in the next generation of digital entertainment and commerce.
Last modified 7mo ago