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You can’t beat the last thing you did. And so while yesterday’s Summer Game Fest showed us a lot of good games, it couldn’t beat last year’s closed season with Alden Ring’s gameplay.
It was a spectacular show with dozens of announcements of upcoming games, and it was our best replacement for the Electronic Entertainment Expo (E3), which canceled both its 65,000-person physical event, usually held in Los Angeles, as well as its last digital show. This summer is the best celebration of gaming until Gamescom arrives in Europe at least in late August of the year.
But organizer Geoff Kylie warned us before the show to manage our expectations, and perhaps it was wise to do so. Sadly, Sony accidentally leaked the show’s surprise, unveiling a remake of Sony and the naughty dog The Last of Us, as well as multiplayer mode for The Last of Us Part II and filming for HBO’s The. Our last television show. It’s my all-time favorite series, and so I enjoyed watching it all. But the leak of the remake – the last part of Kegley’s show – inevitably led to a recession.
Finally, my colleague Mike Minotti is worthy of observation that the rare development talent of Naughty Dog could be put to better use than working on a remake. And on a grand scale, this kind of game is nowhere near as huge as the Alden Ring when he stole the show last year.
The Alden Ring was definitely good for the gamers. I’m on my way to score it or play for hundreds of hours. But you could argue that the Alden Ring was only good for a few companies: the developer from Software and the platform companies that hosted it, Sony and Microsoft. By selling 12 million copies in its first month alone, Alden Ring probably took a lot of dollars that might have been spent on other games.
This year, with no clear winner for the game’s release in 2022, gamers’ money will probably spread more evenly across the industry. And that’s good for the game industry, which is always affected, because the hurricane is coming.
The tech industry, stock markets and cryptocurrency markets have already seen storms as the global economy weakens, with war in Ukraine, high inflation and other ailments affecting valuations and wealth. That could lead to a downturn in the global economy, the tech economy and venture capital investment that keep everything buzzing.
Sports have been a beacon during the epidemic. They saved our minds and our happiness. They brought us along, and saw tremendous growth. Investors noticed, and they poured money into the games. It enabled many gaming companies like Unity and Roblox to go public, and in turn triggered a virtuous cycle. More money went into game investments, which leads to real game venture capital funding. Which has continued to flow money into game startups since the big companies left during the Great Resignation.
This has started a virtuous cycle for sports which is still booming. While US (according to the National Venture Capital Association) Q1 numbers for tech venture capital stalled and valuations declined, game venture capital increased in Q1, according to Drake Star Partners. The blockchain games that many like to criticize raised a third of all sports funding in Q1, rising from $ 3.4 billion to $ 1.2 billion. It leads to more jobs for game developers at a time when tech is starting to shrink. To recap, the money raised for blockchain gaming has created a lot of high-paying jobs for Game Dave.
I don’t even have a crystal ball to tell when games will start sliding. In some ways, economic gravity can pull everything down. The storm is raging and the valuations of game companies in the stock market have already plummeted. That’s why we’re seeing integration. And valuations for game startups will also decline.
Sports have been recession-resistant, but not recession-proof. But the dozens of games we’ve unveiled at Sony’s State of Play Event and Summer Game Fest show that a lot of exciting products are coming in the distant future. While we haven’t seen the full killer app showing his face yet, we’ve seen enough to know that the virtue cycle is in full swing.
We know for sure that a lot of science fiction titles are coming, as games like The Callisto Protocol, Aliens: Dark Descent, and Planet Solis were featured at the beginning of the Summer Game Fest. This type of group thinks at the core of the Triple-A gaming market that it will not generate any boom. We want something more. Blockchain gaming is a defense during a turbulent market, but I don’t think that’s enough. I think we really need some home runs in the AI space in gaming to get market and technical disruption.
Microsoft still has a chance to show us a wonderful title at its Sunday event, and companies like Electronic Arts and Nintendo have yet to show off most of their cards. The Indies also have plenty of opportunities to make a splash in the market, just as titles like Fall Guys were in the past. We can all hope that Alden will beat the ring the game is out somewhere.
If I have to guess from what I’ve seen so far, the most promising games are The Callisto Protocol and Call of Duty: Modern Warfare.
But if gamers feel a squeeze in their pocketbook, they will pull back just like everyone else. They will cost less, and that will lead to less pain in the game industry.
I don’t think this will happen for a while. That’s good news for sports, as it’s already happening in the wider economy, causing pain in trading markets and tech companies. But sports companies should think about batting below the hatch before the storm. And they should all understand that the way to get through the storm will come with the next Alden Ring.
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