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GAMING INDUSTRY – Four New Trends: Metaverse, Nostalgia, E-Sports, and VR

Reddit, the sacred virtual space for geeks, gossipers, and seekers of answers to literally any question about various niche interests and hobbies, has become home to a gaming community that has been growing since the pandemic. With these words, The Drum magazine introduced readers to the story of key trends in the video game industry according to the platform that recorded a 34% increase in user activity in the video game category this year compared to the same period last year. This category currently has 172 million monthly visitors and over three billion monthly views.

It is particularly interesting that these users rarely just read content on Reddit; they also create it and actively participate in discussions, whether it is about technical issues, games, or the future of the entire industry. Due to the size and number of activities in this category, the Reddit platform knows the desires and needs of passionate gamers and fans and states that the industry will be shaped by four new trends in the near future.

The Huge Virtual Universe

The first is, as reported by The Drum, the metaverse. The concept of the metaverse is not new: the term originates from the science fiction novel ‘Snow Crash’ by Neal Stephenson and is used in popular culture to describe a virtual world where users can ‘live’ in real time. In the gaming industry, the metaverse refers to a place that, as stated by Will Cady, global director of Reddit’s creative strategic agency Karmalab, unites all video game universes in one virtual space.

Large companies like Epic Games have become key drivers of the idea of creating this huge virtual universe for gamers. Epic Games even organized virtual concerts for ‘Fortnite’ players, of which there are estimated to be over 350 million worldwide. This move showed investors that games (and the metaverse) can attract hundreds of millions of users looking for a new way to entertain themselves. Additionally, this parallel metaverse is an excellent opportunity for brands and celebrities to interact with their fans and consumers in real time in a virtual space. Thanks to the success, so to speak, of these metaverse experiments, Epic Games raised one billion dollars from investors and an additional 200 million dollars in investment from Sony.

Nostalgia for the Past

However, gamers are not only interested in the latest technological innovations like the metaverse. They are also eager for old things because, as The Drum writes, the trend of nostalgia has returned to this industry. Users are interested in vintage formats, whether it is vintage magazines or old comics. As noted on Reddit, older games are increasingly mentioned, such as ‘Nintendo Teenage Mutant Ninja Turtle’, and the community of fans of old-school games like ‘RuneScape’ is growing, discussing the style of these games, the gaming experience, and sparking interest among younger generations for games that were once passionately played.

Interest is also growing for video games that have a simpler structure (as opposed to the complex world-building in games like ‘Fortnite’). During the pandemic, such simple games became more popular because they are accessible, fun, and do not require significant engagement, yet allow gamers to interact with other players. This year marks the twentieth anniversary of the ‘Nintendo GameCube’ console, as well as the game ‘Super Smash Bros. Melee’, which were introduced in 2001 at the world’s largest video game fair ‘E3’. Today, nostalgic players eager for simple old-school games are eagerly awaiting this year’s fair edition as they hope new ‘Smash Bros’ characters and a new version of the ‘Nintendo GameCube’ console will be launched.

The team behind the Reddit platform has also noticed the rise of e-sports (competitive video gaming). In mid-May, they recorded a 182% increase in unique visitors to the r/Esports subreddit, following the publication of an article stating that the famous gamer Ninja once earned five million dollars in one month playing ‘Fortnite’. Reddit claims that many expressed skepticism about the e-sports trend, but data shows that it is a segment of the video game industry that is not even close to its peak.

In the last five years, more and more players have tried their hand at e-sports competitions, and for many, it has turned from a mere hobby into a lucrative career. Professional solo players and/or teams provide e-sports fans with the same level of entertainment and excitement as conventional live sports competitions.

In other words, drama, records, and sponsorship deals have become an integral part of e-sports. As explained by Reddit, e-sports is becoming interesting even to those who are not gamers at all but appreciate and follow users with that unusual talent and skill for ‘dominating’ opponents in video games. Brands can also benefit from the growth of the e-sports market, either by positioning their brands in games or through traditional sponsorship agreements.

Its Time is Coming

As the last, fourth trend, Reddit cites the well-known technology of virtual reality (VR). There has been mention of VR in previous years, but this so-called hot trend has yet to truly take off in the gaming industry. However, according to data available to Reddit, the technology simply has not yet reached its full potential – its time is coming.

When the new version of the VR headset Oculus Quest 2 was launched at the end of last year, the gaming community on Reddit almost went wild with happiness: visits to the r/OculusQuest subreddit increased by 951%. Since then, interest in the topic of VR has remained relatively stable, partly due to the pandemic, as users decided to purchase VR technology because it allows them to escape from their homes into another, virtual reality.

For all those advertisers who are still hesitant about investing in the gaming industry because ‘games are played by some weirdos and geeks’, here are some data: the total value of that market was estimated at 162 billion dollars last year, and in the next five years, it is expected to exceed an incredible 300 billion dollars. Today, around two billion users play games, and by 2025, that number is expected to increase to 2.5 billion.

The gaming industry is currently one of the fastest-growing in the world and, interestingly, attracts more and more users from different age groups (games are not just played by young nerds). There is no doubt that gamers should be kept under close observation. 

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