Gaming market is bigger than Hollywood, says Internet pioneer Bill Louden
In an exclusive interview for the FinancialFox TV Show, Bill Louden, internet pioneer and Non-Exec Director at London-listed Online Blockchain plc (OBC), commented about the company’s latest move into crypto gaming and ensures the future is bright for those in investing and working in this sector.
“It is a hundred billion-dollar industry, bigger than Hollywood; there’s huge scope for growth” that’s how Bill Louden defines the gaming market. Bill is a tech pioneer, having witnessed and been part of the advent of the internet, now bringing his expertise and knowledge to progress Online Blockchain (OBC).
Online Blockchain plc evolved from On-Line plc, one of the first tech companies to gain ground during the dot com boom — now exploring the opportunities arising from the blockchain revolution.
Two weeks ago, OBC announced it bought a 35% stake in the fast-growing US-based crypto development team Encryptid Gaming Inc. Encryptid is exploring the multiple elements of Ethereum blockchain and applying them to games to spice up the gaming experience.
Indeed, the market show favour for this investment: according to research from New Zoo, the global games market is set to reach $137.9 Billion in 2018 — an increase of 13% from 2017’s figures. Mobile gaming represents more than half of the entire market in 2018, following a decade of double-digit growth since the emergence of smartphones. Consumer spending on games is also expected to grow to $180.1 billion by 2021.
As it is characteristic of this disruptive technology, blockchain will enable a new generation of games to be more flexible, stimulating and, of course, profitable. “Gamers are comfortable with adopting cryptocurrencies and blockchain in practice”, says Bill, as they are already used to using digital currencies.
Like Bill Louden, OBC CEO Clem Chambers has long experience in tech innovation as well as games. “I have worked in and been at the forefront of the gaming world since the early 90s and seen many developments. The advent of blockchain technology opens up a new adventure and a multitude of possibilities. I am looking forward to this blockchain-enabled gaming future,” said Chambers in light of OBC investment in crypto gaming.
Encryptid employs Steam platform for its developments. Steam is a dominant digital platform in gaming and the largest digital distribution platform for PC gaming estimated to have 75% of the market space. By early 2018, the service had over 150 million registered accounts and is available in 26 languages.
The implementation of blockchain into gaming enhances user experience at many levels. Because of its decentralised nature, players can take companions and items to different worlds within the gaming universe, increasing participation, engagement and dynamics.
Kyle Stratis of Encryptid Gaming Inc. said that blockchain opens up opportunities and new experiences for gamers and that OBC is the right partner for it: “Not only are we building a universe, but we will be transforming gaming by leveraging the exciting possibilities of blockchain technology.”
Watch the interview below: