Rapid Adoption of AI Technology in Digital Gaming Contributing to Expansive Growth Opportunities

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., May 24, 2023 /PRNewswire/ -- Artificial Intelligence (AI) is literally everywhere, and it is growing day-to-day it seems. AI is such fantastic technology and has applications in different industries, and gaming is one of these. Artificial Intelligence in video games stands for developing responsive and intelligent behavior in NPCs (non-player characters), similar to human intelligence. These NPCs are controlled by human players during gameplay. AI-based games are enhancing the gaming experience in the most positive way. The technology is helping game developers to create a real-life situation that captures the whole attention of a gamer, and he feels like part of the story. It is the motive of each game development company to make a game that offers a unique experience to its players due to the high competition in the market.  A report from Reliable Business Insight recently said: "The market for Artificial Intelligence in Gaming has experienced significant growth in recent years, driven by increasing demand from various industries and a growing recognition of the benefits of the product. The market size of Artificial Intelligence in Gaming has expanded at a substantial rate, and it is projected to continue its upward trend in the coming years. The growth of the market can be attributed to the product's high efficiency, reliability, and versatility. The market share of Artificial Intelligence in Gaming is also increasing, as more companies enter the market and offer a range of products and services. This has resulted in intense competition, which has driven down prices and made the product more accessible to a wider range of customers. The rise of e-commerce has also played a significant role in the growth of the market, as it has made it easier for customers to compare and purchase products online." Active Tech Companies from around the markets with current developments this week include: The NFT Gaming Company, Inc. (NASDAQ: NFTG), Roblox Corporation (NYSE: RBLX), Take-Two Interactive Software, Inc. (NASDAQ: TTWO), Activision Blizzard, Inc. (NASDAQ: ATVI), NetEase, Inc. (NASDAQ: NTES).

Reliable Business Insight continued: "Moreover, the increasing adoption of Artificial Intelligence in Gaming in developing countries has provided a significant boost to the market. As these countries experience economic growth, they are investing in new technologies and infrastructure, creating new opportunities for the market. Governments in these countries are also offering incentives and subsidies to encourage the adoption of Artificial Intelligence in Gaming, which has further fueled its growth. The global Artificial Intelligence in Gaming market size is projected to (grow) at unexpected CAGR during 2023-2030. Over the years, the continuous research and development of new AI-based gaming tools and techniques are fueling market growth. Increasing investments from gaming companies and growing consumer demand for innovative gaming experiences are also driving market expansion."

The NFT Gaming Company, Inc. (NASDAQ: NFTG) BREAKING NEWS: The NFT Gaming Company Announces Enhancements to AI Gaming Platform Leveraging RECUR Builder - Company expects to begin commercial rollout of AI offering next quarter - The NFT Gaming Company, Inc. ("NFTG" or the "Company"), a company developing a digital gaming platform and community that will offer users the ability to create unique avatars playable in all of the games on the platform in the form of non-fungible tokens, or "NFTs," today announced that it will be leveraging the powerful web3 tool, RECUR Builder, to deliver its AI gaming offerings to market.

The NFT Gaming Company will be building on RECUR's cutting-edge Web3 infrastructure to monetize their expanding game catalog. The NFT Gaming Company will also provide experiences and unique opportunities for the RECUR community.

"Partnering with RECUR allows us to bring our AI gaming offering to market as quickly as possible in the best web3 infrastructure available," said Vadim Mats, CEO of NFT Gaming Company. "This relationship enables us to utilize the same technology as top brands like Paramount, Nickelodeon, Star Trek™, Top Gun: Maverick, emoji^®, Care Bears™, and others."

"We're delighted to have The NFT Gaming Company onboard to enhance their AI gaming product and create unforgettable web3 experiences with RECUR Builder," said Zach Bruch, Co-Founder and CEO of RECUR. "The NFT Gaming Company has been producing accessible, web3 integrated games and with Builder they'll take their gaming experience to the next level for their users." Read this and more news for NFTG at: https://ir.nftgco.com/news-releases/    

In other industry developments and happenings in the market this week include: 

Roblox Corporation (NYSE: RBLX), a global platform bringing millions of people together through shared experiences, recently released its first quarter 2023 financial and operational results today. Separately, Roblox posted a letter to shareholders and supplemental materials on the Roblox investor relations website at ir.roblox.com.

First Quarter 2023 Financial and Operational Highlights Were: Revenue was $655.3 million, up 22% year-over-year, and up 24% year-over-year on a constant currency basis^; Bookings were $773.8 million, up 23% year-over-year, and up 25% year-over-year on a constant currency basis^; Net loss attributable to common stockholders was $268.3 million; Net cash provided by operating activities was $173.8 million; Average Daily Active Users ("DAUs") were 66.1 million, up 22% year-over-year; Hours engaged were 14.5 billion, up 23% year-over-year; and Average bookings per DAU ("ABPDAU") was $11.70, flat year-over-year, and up 2% year-over-year on a constant currency basis.

"Since inception we have focused on building a technology platform that enables a large and growing community of creators to build amazing experiences," said David Baszucki, founder and CEO of Roblox. "The momentum in our business demonstrates the success of our creator community as they bring their visions to life on Roblox, attracting an ever-growing global user base that spans all ages."

Private Division, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), recently announced a partnership to publish a new title from Game Freak. Founded in 1989, the Japanese development company has created dozens of hit games, including more than 30 entries in the Pokémon franchise, which is widely recognized as one of the best-selling game series of all time. Private Division will publish a brand-new action-adventure IP from Game Freak, codenamed Project Bloom. To celebrate this announcement, Private Division and Game Freak have unveiled the first piece of concept art for the game.

"We're thrilled to have the opportunity to create new IP that is bold and tonally different from our prior work," said Kota Furushima, Director at Game Freak. "From the beginning, Private Division was the publisher we wanted to work with on our new game. Their track record and global expertise give us all the confidence to create a sweeping new action-adventure game that we can't wait to share more about in the future."

Activision Blizzard, Inc. (NASDAQ: ATVI) recently announced first quarter 2023 results. Bobby Kotick, CEO of Activision Blizzard, shared, "In our 33rd year, Activision Blizzard is performing exceptionally well. Every one of our key intellectual properties continues to grow year-over-year, with Call of Duty once again a key driver of growth. Mobile net bookings grew double digits including another record quarter for King. Pre-sales for Diablo IV are strong. And none of this would be possible without our people, who deliver excellence for our players every single day. We remain confident that our deal with Microsoft benefits competition, consumers, and job creation in markets around the world, especially in the UK. The CMA's report today does not reflect these realities, and we will work aggressively with Microsoft to reverse it on appeal."

For the quarter ended March 31, 2023, Activision Blizzard's net revenues presented in accordance with GAAP were $2.38 billion, as compared with $1.77 billion for the first quarter of 2022. GAAP net revenues from digital channels were $2.16 billion. GAAP operating margin was 34%. GAAP earnings per diluted share was $0.93, as compared with $0.50 for the first quarter of 2022. On a non-GAAP basis, Activision Blizzard's operating margin was 40% and earnings per diluted share was $1.09, as compared with $0.64 for the first quarter of 2022. Activision Blizzard generated $577 million in operating cash flow for the quarter as compared with $642 million for the first quarter of 2022.

NetEase, Inc. (NASDAQ: NTES) recently announced the opening of a new game studio in Canada called Bad Brain Game Studios. This move represents our expanding commitment to the game development industry in Canada and gives Canadian creators the support they need to build high quality interactive entertainment experiences for a global audience.

The studio, located in Toronto, Ontario and Montreal, Quebec, is developing an ambitious new franchise based on a story-driven, action-adventure game. The game will be an open world, multi-platform experience built with Unreal Engine 5 and is inspired by cult 1980s movies, mixing elements of adventure and horror.

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