Are you ready for this year’s fresh and fun developments in the esports world?
During the past few years, game-changing industry events included YouTube shelling out $160 million in early 2020 to live-stream Activision Blizzard’s esports leagues and events exclusively.
Online gaming continues to skyrocket in popularity, allowing you to enjoy options including thrilling casino games like poker or blackjack or online sports betting like pro or college sports.
Last year Jay-Z’s entertainment company, Roc Nation, launched an esports initiative for traditional-sports athletes.
Read on to discover some possible significant esports trends during the Year of the Tiger.
More Prevalence of Blockchain and NFTs
Blockchain is a peer-to-peer (P2P) decentralized technology that makes a digital asset’s records transparent and unchangeable. The technology has been gaining popularity partly due to reduced risks and fraud.
In 2021, sponsorships accounted for nearly 60% of total esports revenue. The esports market is young, diverse, and expanding.
Expect esports companies to diversify their revenue streams and monetize fans directly in 2022. This process will be through options like blockchain technology and non-fungible tokens (NFTs).
“Non-fungible” means you can’t exchange an item for another item of equal value, according to NPR. For instance, while you can exchange a bar of gold for another one of the same size, an NFT is a one-of-a-kind item.
Gamers can sell in-game NFTs to other players and collectors, earning tokens through play-to-earn models.
Many esports companies are viewing blockchain tech and NFT to diversify revenue streams.
The response from esports fans has been generally positive. They’re used to purchasing digital goods and items in their favorite esports games.
Another factor is research shows esports fans typically have more disposable income than general internet users.
Meanwhile, esports fan tokens, like other cryptocurrencies, are tradeable. Over time, they may increase in value.
Initial fan tokens offered can make it easier for esports organizations to increase investment.
Ongoing Increase in Streaming’s Popularity
Streaming services like Twitch continue to surge in popularity as esports fans stream live sessions and esports events. The trend will likely continue in 2022.
Events like Global StarCraft II League (GSL), League of Legends World Championship, and DreamHack are just some of the streamed events that esports enthusiasts can watch for hours.
Mobile Esports Will Continue Growth
It’s estimated that nearly 60% of the global roaming revenue in 2021 was generated from mobile phones.
While PC and console gaming dominated the market for decades, the market share of mobile esports has taken the market by storm during recent years.
One of the main factors is the high smartphone ownership rates in esports’ mature and emerging markets.
Another benefit is games usually have low specs, contributing to the flourishing of mobile esports.
Yet another key factor is improving fifth-generation wireless (5G) technology that provides stronger and more stable mobile internet connections.
5G-enabled smartphone connections to a 5G network were first available in the United States in 2019.
In particular, battle royale titles have gained popularity in mature esports markets like North America and emerging markets such as Latin America and Southeast Asia.
Recent popular titles in the “last man standing” online multiplayer genre include PUBG Mobile and Free Fire.
VR Esports
During the past half-decade, virtual reality (VR) gaming has increased in popularity in the gaming market’s various segments, including esports.
Popular franchises like Doom, Minecraft, and Grand Theft Auto have become available through VR headset technologies.
Augmented reality (AR) has been less successful in mainstream gaming, with the primary exception of Pokemon Go.
VR is set to continue rising in popularity among esports players in 2022. Cloud VR may become a reality soon, shrinking the size of VR headsets.
Apple may release its long-rumored mixed-reality AR/VR headset in 2022.
Growth of Co-Streaming Events Outside Esports
Recently, co-streaming has become quite popular. It allows gaming publishers and organizers to expand their total audience.
Co-streaming allows more transparency and demonstrates trust in content. These features are extremely popular with esports enthusiasts.
Events featuring VALORANT and Halo allowed rebroadcasting, achieving tremendous success in viewership.
Meanwhile, keeping broadcasts on internal channels gives publishers and organizers more total control of the events in terms of the content and message.
Co-streaming innovation has also increased outside esports. For Instance, Riot’s cross-media strategy includes TV streaming.
Decreased Distinction Between Esports and Traditional Sports
Young esports audiences are attracted to sponsorships from sports brands, while esports has improved through lessons learned from traditional sports. In recent years the two markets have started to unify.
Both markets are “testing the waters.” For instance, some esports brands have delved into lifestyle brands (brands that are part of consumers’ daily lives).
Esports teams have also expanded into other areas like skateboarding, rollerblading, chess, and music.
Meanwhile, organizations of esports events are attracting such new audiences by teaming up with organizations and content creators across non-gaming sectors.
Esports companies are also beginning to shift into traditional sports themselves. One example is the esports team EVOS, which announced a real-world basketball team.
Conclusion
While the rest of 2022 is still unfolding, the trends mentioned above are just some you will possibly see during the year.
One certainty is that 2022 will offer esports fans another thrilling 12 months of competitive gaming.
References
1. What is Blockchain Technology, and How Does It Work?
2. What’s An NFT? And Why Are People Paying Millions To Buy Them?