Connect with us

Hi, what are you looking for?

Technology

Video Game Industry Proves Once Again to be Recession-Proof

Video Game Industry Proves Once Again to be Recession-Proof

Palm Beach, FL – June 21, 2022 – FinancialNewsMedia.com News Commentary – Everyone seems to be worried about the impending recession, except the gaming industry. With inflation reaching multidecade highs, energy prices skyrocketing, and Q1 gross domestic product (GDP) in the US contracting 1.4%, many
say
a recession is inevitable. During times of economic uncertainty, it’s important to consider companies that will hold up during a recessionary period. One popular sector for investors over the last decade has been video games. The video game industry is generally considered “recession-proof” because people spend more time at home during a downturn. In addition, games are a relatively inexpensive form of entertainment. Good Gamer Entertainment Inc. (OTCQB:GGAMF) (TSXV:GOOD), ironSource (NYSE:IS), Loyalty Ventures Inc. (NASDAQ:LYLT), Enthusiast Gaming Holdings (NASDAQ:EGLX) (TSX:EGLX), and Activision Blizzard (NASDAQ: ATVI) stand to benefit from strong interest for gaming.

Good Gamer Entertainment Inc. (TSXV:GOOD) (OTCQB:GGAMF) is a multi-faceted play-to-earn mobile games and platform developer. The company announced that its wholly-owned subsidiary Good Gamer Corp. has launched the
Playcash
play-to-earn game discovery platform in the Google Play Store.

The Good Gamer Playcash platform is the ultimate loyalty rewards program for playing mobile games. The platform rewards players for downloading and playing games, as well as filling out surveys and watching rewarded video ads. Users can then cash out their playcash for gift cards from the largest online retailer and prepaid charge cards from the two most popular credit card companies. The Playcash platform offers users hundreds of free-to-play, and play-to-earn mobile games covering all genres including arcade, puzzle, social casino and hyper casual games.

“We are very excited to announce the launch of our Playcash play-to-earn game discovery platform to serve the fast-growing audience of casual gamers looking to earn real money just for playing games and filling out surveys,” said Good Gamer CEO Charlo Barbosa. “Hyper-casual games made up over 50% of total mobile game downloads in 2021. We feel that this app will be the ultimate loyalty program for mobile gamers by incentivizing users with real-cash rewards for their time played, thus increasing the lifetime value and loyalty for our games and our partners.”

“With the inflation rate constantly increasing, more people will be looking at other means to entertain themselves and supplement their income. It is really a recession proof product, and unlike other play-to-earn blockchain games, it’s supplemented by advertising revenue, not tokens,” he added.

The launch of Playcash will give Good Gamer the opportunity to grow its userbase at a much lower cost per install than its competitors since the Playcash will act as the game launcher to cross-promote its growing library of in-house hyper casual and tournament games.

For more information about Good Gamer Entertainment Inc. (TSXV:GOOD) (OTCQB:GGAMF),
click here
.

Developments in Companies Supporting the App and Game Economy

ironSource (NYSE:IS), a leading commerce platform for the app economy,
announced
in April the general availability of Luna Search Ads, enabling app marketers to better create, manage and optimize campaigns on Apple Search Ads. Previously in closed beta, the product enables app marketers to automate and streamline campaign creation, keyword management and discovery, and data analysis, as well as provide automated optimization for Apple Search Ads – all from the same platform where they run campaigns on other channels. ironSource has invested heavily in supporting app developers within the Apple ecosystem. It has become the first platform to support custom product pages, allowing developers to create multiple targeted versions of an App Store product page. Earlier this year, ironSource
closed
the acquisition of mobile marketing and monetization company Tapjoy. The acquisition continues to strengthen ironSource ‘s offering for app developers, with industry-leading tools to support the app and game economy, and a robust advertiser market.

On June 8, Loyalty Ventures Inc. (NASDAQ:LYLT), a leading provider of data-driven consumer loyalty technology solutions,
provided
an update on developments to its AIR MILES Reward Program. The company disclosed that its segment of the AIR MILES Reward Program and AIR MILES sponsor Sobeys were unable to match extension terms; therefore, Sobeys has notified its intent to exit the program region by region, beginning with Atlantic Canada, between August and the first quarter of 2023. Management is confident in AIR MILES’ ability to convert this development into a growth opportunity in the medium term. The company anticipates that the primary impact of this development in 2022 will be on the number of AIR MILES reward miles issued, as Sobeys represented approximately 10% of Loyalty Ventures’ adjusted EBITDA in 2021.

On June 13, Enthusiast Gaming Holdings (TSX:EGLX) (NASDAQ:EGLX), an integrated gaming entertainment company,
announced
its director nominees for election to its board of directors at Enthusiast Gaming ‘s upcoming annual general meeting. Each candidate is specifically selected to help facilitate the company’s continued growth and oversee the continued successful execution of its business plan that produces meaningful results. There are six incumbent director nominees and three new director nominees. Candidates for titular directors include John Albright, Michael Beckerman, Ben Colabrese, Alan Friedman, Adrian Montgomery, and Richard Sherman. After serving as director of the company for four years, Francesco Aquilini will not stand for re-election.

King, a leading interactive entertainment company for the mobile gaming world that was acquired by Activision Blizzard (NASDAQ: ATVI) in 2016,
announced
on June 13 that it has acquired artificial intelligence software company Peltarion. Peltarion is a Swedish artificial intelligence (AI) software company and developer of a no-code machine learning operations platform that allows users to design, train and manage deep learning models in the Cloud at scale and quickly. King’s acquisition of Peltarion will accelerate the current use of artificial intelligence and machine learning technology in King’s gaming platform, a key area of ​​the company’s ongoing strategic direction. With this investment, King aims to continue to develop leading AI and machine learning capabilities and teams, enabling a new generation of innovative game design, development, and live operations capabilities and becoming a hub for the world’s top gaming AI talent.

Good Gamer Entertainment Inc. is a multi-faceted play-to-earn games and platform developer. The Playcash app allows players to discover new games to earn real cash rewards. The Tournament Management platform matches players in head-to-head tournaments to compete in real cash Esports tournaments. The Company is also the creator and game developer of the
Chosen Ones
play-to-earn blockchain game.

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty five hundred dollars for news coverage of current press release issued by Good Gamer Entertainment Inc. by a non-affiliated third party.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:

Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

SOURCE Financialnewsmedia.com

The post
Video Game Industry Proves Once Again to be Recession-Proof
appeared first on
Financial News Media
.

You May Also Like

Blog

An investor’s best friend is the candlestick chart, which you can use to identify trends in stocks, commodities, and currencies. The most reliable patterns...

Technology

The blog post breaks down what are candlestick patterns, how to read easy to see patterns, how candlesticks are formed, how to read charts,...

Diversified Industries

This blog breaks down the essential candlestick patterns that will help traders with investing. Also, investors are encouraged to look into the body, wick,...

Diversified Industries

In this blog we explore the top 6 unknown and cheap stocks for millennials to invest in. This list includes: Zynga (NASDAQ:ZNGA), Franks International...

Investor Scene

InvestorScene.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, in-depth broadcasts on Stock News, Market Analysis and Company Interviews.

InvestorScene.com also provides financial news PR marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.



Copyright © 2022 www.investorscene.com - a GloBull Media, LLC Brand