Blockchain Market Set to Grow as the Technology Spreads to the Video Game Industry

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Oct 11, 2018, 09:00 ET

NEW YORK, October 11, 2018 /PRNewswire/ --

According to a report published by Global Market Insights, the blockchain market is expected to grow from USD 200 Million in 2017 to reach over USD 16 Billion by 2024. The market is mainly driven by the increasing adoption of technology by mainstream institutions, the growing trend of Initial Coin Offering (ICOs) and increasing investment by venture capitalists as investor interests in blockchain technology continue to increase. In 2017, blockchain companies had raised more than USD 2 Billion through 250 ICOs globally. About USD 1 Billion has been invested in the blockchain start-ups with more than 185 deals across the world. Global Blockchain Technologies Corp. (OTC: BLKCF), Amazon.com, Inc. (NASDAQ: AMZN), Take-Two Interactive Software, Inc. (NASDAQ: TTWO), Activision Blizzard (NASDAQ: ATVI), Electronic Arts (NASDAQ: EA)

Blockchain technology is also transforming the video game industry by providing transparency, decentralization and security as well as other advantages for the market. The video game market has grown to a USD 100 Billion industry and has become one of the largest businesses in terms of volume. According to a report released by Newzoo, about 2.3 billion gamers across the globe will spend USD 137.9 Billion on games in 2018. This represents an increase of 13.3% from the year before, or USD 16.2 Billion. Digital game revenues will take 91% of the global market with USD 125.3 Billion. The report also estimates that consumer spending on games will grow at a compound annual growth rate (CAGR) of 10.3% to reach USD 180.1 Billion by 2021.

Global Blockchain Technologies Corp. (OTC: BLKCF) also listed on the Canadian Securities Exchange under the ticker symbol (CSE: BLOC). Earlier today, the Company announced breaking news that, "it will be creating a subsidiary entity for its enterprise and exchange activities (the "Subsidiary") with a view to unlocking their value through a spinout of critical mass assets, and merging its remaining media and entertainment investments and projects with those of X2 Games Corp. ("X2 Games"). More details about the component assets of the spinout for shareholders of record November 1, 2018 (the "Record Date") will be forthcoming.

X2 Games is an independent Games Publisher for cutting edge games that integrate Blockchain Technology and Cryptocurrency into the user's game experience. Their business model is building multiplayer gaming experiences, providing never-been-seen-before-design and animation services and integrating technologies such as augmented/alternate/virtual reality into video games. X2 Games uses new technologies to create unique game experiences for conventional and experimental platforms. With the industry poised to hit $138 billion USD by year's-end X2 Games is positioning itself to be a world leader in the next-generation of gaming.

NOLAN BUSHNELL - THE GODFATHER OF THE VIDEO GAME INDUSTRY

The Godfather of the Video Game Industry, Nolan Bushnell, created X2 Games, which is focused on innovative gaming technologies. Atari, founded over 40 years ago, gave the world the first blockbuster video game. Nolan later spearheaded the Atari 2600 console which revolutionized the home gaming market. If Atari was not enough for one lifetime achievement, Nolan also created Chuck E. Cheese, creating a pizza parlor and video game entertainment center-hybrid that quickly became popular with children and adults across the United States and the entire world. Nolan paved the way for the global gaming and entertainment industries that have changed billions of peoples' lives and shaped generations of gamers globally. That was only the beginning of the legacy that he has created. Legendary in the industry he created, Nolan has also been recognized by colleagues and peers, including being named one of the "50 People Who Changed America" by Newsweek. He has also been inducted into both the "Video Game Hall of Fame" and the Consumer Electronics Association Hall of Fame. He is continually striving to ensure his life passions meet at the intersection of technology and entertainment to make people's lives better through fun!

ZAI ORTIZ - THE HOLLYWOOD INNOVATOR AND CREATOR OF VISUAL ART

The management of X2 Games also includes Zai Ortiz , President, Co-Founder and Chief Creative Officer- an accomplished digital animator who created Iron Man's J.A.R.V.I.S. system holograms seen in Marvel movies. Ortiz also supervised creative teams in producing visuals for films to include TRON: Legacy, Sherlock Holmes, and Mission: Impossible. Ortiz's creative virtuosity and keen eye for futuristic designs drives the Company's mission to give gamers around the world a true cinematic story experience unlike any they've ever had. His latest creative project - the AI-driven murder-mystery game ST. NOIRE - bears out this promise, and lays the foundation for X2 Games' future ambitions in immersive, interactive storytelling. Previously, Ortiz was a founder and CEO of DARK MATTER - a specialized design and visual communications studio in Hollywood, CA, as well as served as the creative director for in-game cinematic Bethesda's massively popular game The Elder Scrolls - Legends."

Amazon.com, Inc. (NASDAQ: AMZN) recently said in a blog post, blockchain has the potential to enable new possibilities that were previously out of reach for businesses, governments, and society as a whole through its ability to empower decentralized, secure, transparent, and immutable interactions, processes, and transactions. ConsenSys is an AWS Partner Network (APN) Advanced Technology Partner that is enabling consortiums-that is, associations of two or more organizations-to create and operate enterprise blockchain networks on Amazon Web Services (AWS) without spending months and millions of dollars writing custom code. For Kaleido, a ConsenSys business, the goal is simple: make blockchain radically simple for organizations to adopt so that its societies will fully benefit from decentralized models and technologies. By helping enterprises and governments harness the power of Ethereum, an open-source blockchain-based protocol, Kaleido empowers organizations to accelerate the many ways blockchain technology can meet their unique needs or create new value. The result is that blockchain is more accessible and easier for customers to use, and even faster for them to connect blockchain solutions to AWS services securely. This helps customers who want to get started quickly on blockchain projects as they progress from proof of concepts to pilots and into production.

Take-Two Interactive Software, Inc. (NASDAQ: TTWO), headquartered in New York City, is a leading developer, publisher and marketer of interactive entertainment for consumers around the globe. The Company's wholly-owned label, Rockstar Games, has announced that Red Dead Redemption 2, which had been planned for release during Spring 2018, is now planned to launch on October 26^th, 2018 to allow additional time to further polish the final product. Despite this change, Take-Two continues to expect to deliver both record Net Bookings and record net cash provided by operating activities, in excess of USD 2.5 Billion and USD 700 Million, respectively, during fiscal year 2019, led by the launches of Rockstar Games' Red Dead Redemption 2 and a highly anticipated new title from one of 2K's biggest franchises.

Activision Blizzard (NASDAQ: ATVI), an S&P 500 company and the world's most successful standalone interactive entertainment company. Recently, Activision Blizzard Consumer Products Group (ABCPG) announced its return to Brand Licensing Europe 2018 (BLE) with a fan-favorite roster of franchises and first-in-class partners to drive the continued international expansion of some of today's hottest properties. Marking the group's return to BLE since debuting internationally last year, ABCPG is making a greater splash through its continued expansion into the global market through a host of new lifestyle, toy and gaming partnerships to give fans new ways to play, display, wear and live the brands they love. Returning to represent a roster of iconic, blockbuster titles, including Call of Duty®: Black Ops 4, Spyro™ Reignited Trilogy, Crash Bandicoot™ N.Sane Trilogy and Bungie's Destiny from Activision, and Overwatch®, Hearthstone® and World of Warcraft® from Blizzard Entertainment, the Company presence will also feature products from Nerf, New Era, McFarlane and more. Offering exciting opportunities for multi-category licensing, the Company's franchises of the future feature thrilling gameplay, linear storytelling, esports and consumer products for its global audience of more than 352 million gamers and fans. "Activision Blizzard Consumer Products Group is delighted to return to BLE to showcase our growing slate of partnerships that will help fans engage with their favorite franchises in new and innovative ways," said Philippe Bost, Vice President of International Consumer Products for Activision Blizzard. "As our merchandise programs continue to expand to the international market, we're energized by the prospect of continuing to redefine how popular brands like Call of Duty and Overwatch are experienced by fans across the globe."

Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. Earlier this year, Electronic Arts Inc. announced preliminary financial results for its first fiscal quarter ended June 30^th, 2018. Highlights include: Digital net bookings for the trailing twelve months was USD 3.550 Billion, up 13% year-over-year and represents 69% of total net bookings; The FIFA World Cup content update had more than 15 million unique players during the quarter; Launched FIFA Mobile in China this quarter, reaching #1 on the top downloads chart for iOS in China and showing best-in-class engagement on the WeChat platform. "Across new games, new platforms and new geographies, we connected more players around the world to more great entertainment in our first quarter of FY19," said Chief Executive Officer Andrew Wilson. "We are striving to pioneer and lead for our players, with new EA SPORTS games and content on every platform, a first-of-its-kind subscription in Origin Access Premier and growing competitive gaming tournaments for FIFA and Madden NFL coming in the months ahead. With every game, every service, and every experience, we are taking steps toward our vision to connect a billion people in play."

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