The COVID-19 pandemic is speeding up the adoption of brand-new technologies and cultural shifts that were currently well underway. According to a clutch of heavy-hitting financiers, this dynamic is particularly strong in video gaming and extended reality.
Unlike other sections of the start-up and tech world, where assessments have been slashed, early-stage business concentrated on constructing new games, gaming infrastructure and virtual or extended truth entertainment are having no trouble raising money. They have actually even seen appraisals rise, financiers said.
“Valuations have actually increased pretty considerably in the video gaming sector. Evaluations have gone up 20 to 25% higher than I would have seen prior to this pandemic,” Phil Sanderson, a co-founder and handling director at Griffin Video Gaming Partners, informed fellow participants on a virtual panel during the Los Angeles Games Conference earlier this month.
Driving the hunger for brand-new financial investments is the entertainment industry’s bearhug of virtual occasions, animated functions, video games and social networks platforms after widespread shelter-in-place orders made physical occasions an impossibility.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.