The video game industry has been around for decades. It has also been a booming industry as technology continues to saturate the world.

Evolution of the Video Game Industry

In 1940 at New York World’s Fair, Dr. Edward launched the first game machine. Approximately 50k people played the game during its 6 monthly display.

But the first commercial home game system was launched in 1967 by RALPH BEAR and his crew, the game system named ‘Brown Box’.

The ‘Brown Box’ was designed such as to connect with T.V and controlled by 2 users providing entertainment for children and adults. Different types of games including PING PONG and CHECKERS could be played on ‘Brown Box’.

In 1972 Magnavox licensed the ‘Brown Box’. After the discontinuation of Magnavox, only 300K consoles were bought by people from August 1972 to 1975 and this was called the new era of digital gaming. Video games continue to improve as technology evolves.

The Arcade gaming era started when electro-mechanical-based games such as PERISCOPE and Crown Special Soccer were launched in 1966-1967 by Sega and Taito companies.

When Atari company (Founded by Nolan Bushnell) founded in 1972  they created a whole new industry around ‘arcade games. From 1972 to 1985 more companies started to develop video games.

First Multiplayer Game

The first multiplayer game named ‘Empire’ was released in 1973 in which eight players were competing on separate screens.

Spasm for PLATO was the first 3D multiplayer game released by Jim Bowery. Gaming becomes more popular with the younger generation due to competing for high scores in arcades.

LAN networks brought a revolution in gaming and the arrival of internet boosted the multiplayer gaming. The WWW (World Wide Web) software was released by CERN in 1993 and put in the public domain.

Companies such as Sega, Nintendo, and Atari try hard to break into online gaming from 1993 to 1996. But due to low internet capabilities, none of them succeeded.

In 2000, Dreamcast’s world-first internet-ready console was released. For the upcoming modern generation of consoles, Dreamcast sets the base, such as Xbox 360 series. Wii Shop Channel and Xbox Live Marketplace brought a new revolution in the video game industry which completely changed the subscription of video games, interaction and communication of gamers community and updating their software, and online multiplayer gaming was given a boost by networking service like Sony’s PSN.

High-definition Gaming

High-definition gaming was introduced to the world by Xbox 360, PlayStation 3, and Nintendo’s Wii during 2005-2006. Playstation 3 and Xbox 360 had almost similar graphics features and Xbox won many game critics awards during 2007.

Video games started spreading to other platforms such as mobile devices and social media platforms like Facebook at the end of the decade.

The video game industry undergo another revolution when smartphones and app stores were launched in the market during 2007 same with some casino games where you can get 25 free spins no deposit bonus.

Over the last decade, rapid technology growth in the mobile industry causes an explosion in mobile gaming. In 2012 Angry bird mobile game was launched by Rovio company and made $200 million and broke 2 billion downloads in 2014.

In 2012 Nintendo’s Wii U was launched and then PlayStation 4 was leased by Sony and Xbox one by Microsoft during 2013 started a new generation of gaming.

4K video capability console was released by Sony in 2016 named as PlayStation 4 pro. In late 2017 Microsoft released its 4k output video console Xbox one X.

Now video game industry has evolved its sector is bigger than the combined sectors of the movie and the music industry.

Now after the release of Playstation 5 according to a report there are approximately more than 2 billion gamers around the globe which comprised 26% of the whole world population.

Future of Video Gaming Industry

Analysts predict that at the end of 2022 the revenue generated by video games will be $196 billion. Big Tech companies which include Google, Facebook, and Apple are looking to get involved in the video game industry.

 Microsoft launched its video streaming services project xCloud which allows its subscribers to stream in HD quality Xbox series video games on their PCs or on other devices. Facebook collaborated with unity technologies to develop a game development framework in 2016 that will allow its users to develop video games.

Stadia, a program launched by Google, is a cloud-based gaming service. Which allows its subscribers to play and stream high-quality video games. It is accessible through PCs, Google chrome, smartphones, Tablets, and Desktop computers.

With recent development in the video game industry, in-game items and currency are used. Games such as Final Fantasy XIV uses GOLD as their currency to buy in-game items. A game like Warframe and CSGO also use game currency to buy game items.

Eldorado.GG, the online in-game currency trading site, is at the forefront of such buying and selling exchanges. If you are looking to buy or sell your Runescape Gold then Eldorado.GG be a good place for you.

 Eldorado charges less in comparison to another marketplace. As other marketplace charges 15% for the transaction as its commission. Eldorado charges only 5% on the gold and items and 10% on accounts and boosting.

So if you are going to buy gold for your Final Fantasy XIV you can get here. For items for Warframe and CSGO, you can get here.

Conclusion

Video Gaming Industry is always about introducing modern technology and innovation. As technology evolves people spend the most time on their smartphones, streaming sites, and playing mobile phone games, so the video game industry becomes an important area for generating revenue.

Big tech companies are looking to involve their current framework to get the most from the gaming industry.

 The expanding demographics of gamers is the most interesting change in the video gaming industry.

As technology advances, the future of the Video Gaming Industry looks bright.

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