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New Study Shows Gamers & Game Developers Eager for a Free Market Virtual Item Economy
Reading Time: 4 minutes
86% of Game Developers Believe Tradeable Virtual Items Will Be Even More Important in Future Games
Video gaming has become much more than a hobby for players worldwide. From professional eSports teams to lucrative streaming careers, the gaming industry has evolved tremendously over the past decade. Today, there are roughly 2 billion global gamers who spend over $100 billion on gaming every year, and the majority of this revenue stems from the purchase of in-game items. For example, Fortnite has generated $1 billion in revenue entirely from in-game purchases. While the amount of money players spend on these digital items is staggering, in most cases, the game creators retain ultimate control over what players can and cannot do with the items they purchase. For example, many prohibit the transfer of item ownership and restrict item’s use to a certain game or platform. They can also revoke or ban access to the gamer’s items at their discretion – regardless of how much money the player spent on them. In the end, gamers do not truly own the content that they purchase.
True Ownership – A Future that Appeals to Both Players and Game Creators
To examine this ecosystem in-depth, Worldwide Asset eXchange
(WAX) commissioned a study of 500 game developers and 1,000 video gamers in the United States. WAX’s study found that the video gaming community wants more freedom and flexibility over their in-game virtual items, a concept known as true ownership of in-game items. Interestingly, it is not just gamers – game developers want this future too.
True ownership of in-game items – defined as allowing players to buy, sell, trade and use their items with no restrictions from third parties – enables a free-moving virtual items market.
Blockchain Technology Makes True Ownership Possible – and Billions of Dollars’ Worth of Items Even More Valuable
Thankfully, the inception of blockchain technology is radically changing the status quo of video gaming and outdated ownership protocols. And the WAX Blockchain is purpose-built to make true ownership of in-game items a reality. WAX’s study found that game creators are currently missing out on a valuable market segment by failing to enable true ownership of digital items.
For example, 68% of gamers said that they feel players deserve to truly own the items they purchase. Combine that with the 66% of game developers who said virtual items are a pivotal component of their game’s monetization strategy and item value is being suppressed by publisher or developer control. While in-game items currently play a key role for game developers, 86% believe tradeable virtual items will be even more important in future games than they are today.
Gamers and game developers alike see the benefits of allowing players to freely buy, sell and trade their virtual items. According to the survey, 69% of game developers believe when items are freely tradeable, it increases the value of those items, and 62% of gamers feel having the flexibility to transfer virtual items from game-to-game would make spending money on those items more worth it.
And, nearly three-fourths of gamers said they would purchase virtual items if they could use them in multiple games – which is made possible by true ownership. Of game developers surveyed, 84% would create cross-compatible in-game items if the technology allowed them to do so.
“True ownership of digital items is the future of video games. Players and game developers are both eager for a free-moving virtual item market, and the community’s interest will shift towards games that offer this,” said William Quigley, CEO of WAX. “By enabling cross-compatibility, which is made possible by true ownership, game developers can stand out from the millions of free-to-play games created every month and attract the most valuable segment of players to try out their game.”
The Future of True Ownership
WAX found that over half of game developers cited marketing as the highest unforeseen expense in game development. Developers are starting to see true ownership of items for what they could be in the future – the perfect customer acquisition tool. Developers of free-to-play games that enable cross-compatibility of items will attract players who are already proven to purchase in-game items. Since they’re proven to be purchasers of in-game items, they have a much higher propensity to buy more from a new game than players who never spend money on in-game items.
Moving forward, as companies search for new ways to keep their community engaged, it is clear their adoption of blockchain technology and true ownership will play a key role in their success. WAX’s study shows that the emerging market for true ownership of digital items is too important to ignore and the video game community is looking for platforms that offer these opportunities. With WAX’s purpose-built blockchain technology, this future is finally becoming a reality.
About WAX (Worldwide Asset eXchange)
WAX is the world’s first blockchain built for global e-commerce. WAX’s patent-pending blockchain e-commerce platform is the safest and most convenient way to create, buy, sell, and trade virtual items – to anyone, anywhere in the world. The world of digital ownership today is defined by its restrictions. WAX is building a future to where it will be redefined by its freedom. WAX is creating a full suite of blockchain-based tools that allows anyone to trade digital or even physical items instantly and securely, to anyone, anywhere. Participants of the Worldwide Asset eXchange gain access to a global community of collectors and traders, buyers and sellers, creators and gamers, merchants and game developers.
Worldwide Asset eXchange
, WAX are trademarks and the sole property of Worldwide Asset eXchange. All other registered or unregistered trademarks are the sole property of their respective owners.
Source: WAX
Source: Latest News on European Gaming Media Network
Reading Time: 2 minutes
Mohegan Gaming & Entertainment (MGE) is pleased to announce that George Galinsky, senior vice president of marketing communications, has been selected as one of the Top 25 Most Extraordinary Minds of 2018 by Hospitality Sales & Marketing Association International (HSMAI). The award honors the top leaders in sales, marketing and revenue optimization during the HSMAI Adrian Awards that takes place in January 2019, during which the most innovative hospitality, travel and tourism accomplishments in the past year are honored by industry colleagues. The recognition further strengthens Mohegan Gaming & Entertainment’s position as a premier developer and operator of world-class integrated entertainment resorts.
“George Galinsky’s recognition as one of the top marketing leaders in resort hospitality comes as no surprise,” said Mario Kontomerkos, chief executive officer, Mohegan Gaming and Entertainment. “Along with launching the second season of Mohegan’s one of a kind online digital series, “Back of House,” George and his team have also helped propel the MGE brand forward and further position us as a leader in premier entertainment and gaming destination development. We look forward to his team’s support on all of MGE’s current and future domestic and international development projects.”
Selected by a panel of senior industry executives, the “Top 25” awardees are high achievers who stand out because of their ability to create cutting-edge marketing programs, triumph in challenging situations and generate measurable gains for leading brands.
Galinsky was also just honorably named part of the Masters Circle by the Association of National Advertisers (ANA) where he will work with leading chief marketing officers on the Brand Experience and Innovation leadership committee. His team, along with leading communications partners, together have won multiple travel and tourism industry awards, as well as advertising, public relations and social media awards since 1999 when George first joined Mohegan.
Galinsky has been a member of the Mohegan Gaming and Entertainment executive team since June 2014. He is responsible for overseeing marketing communications, brand strategy and channel execution for all resort and casino communications including the highly successful MGE flagship destination, Mohegan Sun.
To learn more about Mohegan Gaming and Entertainment’s resort destinations, visit https://mohegangaming.com/. Further information on Mohegan Sun can be found at mohegansun.com, and its original digital series at backofhouse.tv. Details on HSMAI’s annual Adrian Awards are shared on http://www.adrianawards.com/ and the ANA on https://www.anamasterscircle.com.
About Mohegan Gaming & Entertainment
Mohegan Gaming & Entertainment (MGE) is a master developer and operator of premier global integrated entertainment resorts, including Mohegan Sun in Uncasville, Connecticut and Inspire in Incheon, South Korea. MGE is owner, developer, and/or manager of integrated entertainment resorts throughout the United States, including Connecticut, New Jersey, Washington, Pennsylvania, Louisiana, Northern Asia, and beginning in 2019 Niagara Falls, Canada. MGE is owner and operator of Connecticut Sun, a professional basketball team in the WNBA and New England Black Wolves, a professional lacrosse team in the National Lacrosse League. For more information on MGE and our properties, visit www.mohegangaming.com
Source: Latest News on European Gaming Media Network
Latest News
New 2019 American Casino Guide Now Available in Two Sizes – Both Delivering Impressive Savings for Casino Travelers!
Reading Time: 2 minutes
The American Casino Guide has won a reputation for helping people save thousands of dollars with great casino discounts. For 28 years, only released in a full-sized edition, the 2019 American Casino Guide is now also available in a new smaller edition with a lower price and offering the same great coupons.
Many people would argue there are few things as fun and exciting as a trip to Las Vegas, by far America’s best place to explore and enjoy casinos. Well, the American Casino Guide has something even better – the same kind of trip, but with a book packed full of a huge amount of coupons that can save casino and restaurant guests hundreds of dollars. Having been being published for close to three decades, there’s no better source for garnering such a great assortment of money-saving casino coupons for less than 10 dollars. In an exciting change for 2019 the American Casino Guide has recently been released and this year, for the first time, there are two choices available: the full size 2019 American Casino Guide for $18.95; or the new, smaller version, with all of the same great coupons for just $9.95.
“Technology has changed quite a bit since we started publishing the American Casino Guide 28 years ago. We have transferred all the great information from the front of the full book into our new FREE app which allowed us to lower the production costs and we have passed those savings onto our customers so they can enjoy all 182 casino coupons for a much lower price!” says the book’s author, Steve Bourie.
The smaller-sized version of the Guide doesn’t have the extensive descriptions of casinos which are a favorite of many customers. Instead, making the best use of technology, users can download the FREE American Casino Guide app, which opens the door to all that information right on a Smartphone, tablet or iPad. Anyone can download the app for FREE. Simply go to the App Store, or Google Play Store and search for “American Casino Guide.” Detailed information for any U.S. casino, including maps and directions, is at your fingertips when using the app.
So, no matter if a customer goes “all-in” for the 480 pages, or instead chooses the 128-page version, they still can save a remarkable amount of money and get a great source on how to get the most value for their gambling dollar when visiting any U.S. casino.
The early feedback for the 2019 American Casino Guide has been very positive across the board. Quintin M., from Orlando, said in a five-star review, “I go to Vegas once a year and my faithful money- saving tool is the American Casino Guide. I was glad to hear that a smaller sized edition is now available and I actually bought both, one as a gift for a friend who is going on a different date and a small edition for myself. I thought it was great and the app is really cool.”
The 480-page edition of the 2019 American Casino Guide is available at all major bookstores, Amazon and also at https://www.americancasinoguide.com/order-now.html which is the exclusive source for buying the new 128-page smaller edition, priced at just $9.95.
Source: Latest News on European Gaming Media Network
Reading Time: 2 minutes
Sycuan announced today that the organization is renaming the Sycuan Golf Resort to Singing Hills Golf Resort at Sycuan. The name change coincides with Sycuan’s massive hotel resort expansion to distinguish its two resort properties.
Having originally opened in 1956, Singing Hills has since evolved into one of San Diego’s premiere golf resort destinations. In 2001, The Sycuan Tribal Development Corporation purchased the property and made several renovations including revamping its guest rooms, banquet rooms and golf courses.
The golf resort has been nationally recognized for its championship courses, lush mountain terrain and picturesque views. The incredible inland valley’s natural beauty and diverse wildlife, makes Singing Hills one of the best golf resorts in Southern California.
“The Singing Hills name is widely recognized and the property continues to be a historical landmark in San Diego,” said Andrew Kerzmann, vice president of hotel operations at Sycuan Casino. “After being open for more than 60 years, we are excited to go back to the property’s roots and bring back the Singing Hills name that some of our longtime guests know and love.”
For more information about Singing Hills Golf Resort at Sycuan visit www.singinghillsgolfresort.com or call 1-800-457-5568.
About Singing Hills Golf Resort at Sycuan
Nestled inside the beautiful and tranquil hills of Dehesa Valley, our two challenging 18-hole championship golf courses and fun 18-hole par 3 course are guaranteed to give you unforgettable experiences from beginning to end. The courses are thoughtfully designed with some surprises along the way and plenty of spectacular natural features to add interest.
To get your game on par with the pros, we offer specialized Golf Academies for everyone: adults, kids, juniors, couples and women. Discover why Singing Hills Golf Resort at Sycuan is among the best golf resorts in Southern California. Our San Diego vacation packages provide the best of both worlds, with access to our three courses and a relaxing stay at our peaceful resort. For more information visit www.singinghillsgolfresort.com.
SOURCE Singing Hills Golf Resort at Sycuan
Source: Latest News on European Gaming Media Network
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