The video game industry once again proves that it is recession proof
PALM BEACH, Florida., June 21, 2022 /PRNewswire/ — FinancialNewsMedia.com News commentary – Everyone seems to be worried about the impending recession, except the gambling industry. Inflation reaching multidecade highs, energy prices are soaring and the first quarter gross domestic product (GDP) in the United States contracts by 1.4%, many say a recession is inevitable. In times of economic uncertainty, it is important to consider which companies will hold up during a recession. A popular sector for investors over the past decade has been video games. The video game industry is generally considered “recession-resistant” as people spend more time at home during downturns. Additionally, games are a relatively inexpensive form of entertainment. Good Gamer Entertainment Inc. (OTCQB:GGAMF) (TSXV: GOOD), ironSource (NYSE:IS), Loyalty Ventures Inc. (NASDAQ:LYLT), Holdings of gaming enthusiasts (NASDAQ:EGLX) (TSX:EGLX), and ActivisionBlizzard (NASDAQ: ATVI) should benefit from a strong enthusiasm for the games.
Good Gamer Entertainment Inc. (TSXV: GOOD) (OTCQB: GGAMF) is a multi-faceted play-to-earn platform and mobile game developer. The company announced that its wholly owned subsidiary Good Gamer Corp. launched the playcash play-to-earn game discovery platform in the Google Play Store.
The Good player The Playcash platform is the ultimate loyalty rewards program for playing mobile games. The platform rewards players for downloading and playing games, as well as completing surveys and viewing rewarded video ads. Users can then withdraw their money in gift cards from the largest online retailer and prepaid payment cards from the two most popular credit card companies. The Playcash platform offers users hundreds of free and fun mobile games spanning 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 rapidly growing audience of casual gamers looking to earn real money just for playing games and meeting to polls, said Good player CEO Charlie Barbosa. “Hyper casual games compound over 50% of total mobile game downloads in 2021. We believe this app will be the ultimate loyalty program for mobile gamers by incentivizing users with real-money rewards for their game time, increasing the value to life and loyalty for our games and our partners.”
“With the rate of inflation steadily rising, more and more people will be looking for other ways to entertain themselves and supplement their income. This is truly a recession-proof product, and unlike many other play-to-earn blockchain games, it is supplemented by advertising revenue, not tokens”, he added.
The launch of Playcash will give Good player the opportunity to grow its user base at a much lower cost per install than its competitors as Playcash will act as a game launcher to cross-promote its growing library of in-house hyper casual and tournament games.
For more information on 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, announcement in April, the general availability of Luna Search Ads, allowing 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 became the first platform to support custom product pages, allowing developers to create multiple targeted versions of a App store product sheet. Earlier this year, ironSource firm the acquisition of mobile marketing and monetization company Tapjoy. Acquisition continues to strengthen ironSourcefor 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 revealed that its AIR MILES Reward Program segment and AIR MILES sponsor Sobeys were unable to match extension terms; therefore, Sobeys has notified its intention to withdraw from the Program on a region-by-region basis, 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 medium-term growth opportunity. The company anticipates that the main impact of this development in 2022 will be on the number of AIR MILES reward miles issued, as Sobeys represented approximately 10% of Loyalty companies Adjusted EBITDA in 2021.
On June 13, Enthusiast Gaming Holdings (TSX: EGLX) (NASDAQ: EGLX), an integrated gaming entertainment company, announcement its directors who are candidates for election to its board of directors Game enthusiastnext annual general meeting. Each candidate is specifically selected to help facilitate the company’s continued growth and oversee the successful and continued execution of its business plan that produces meaningful results. There are six incumbent director nominees and three new director nominees. Nominees for incumbent directors include John Albright, Michael Beckerman, Ben Colabrese, Alain Friedman, Adrian Montgomeryand Richard Sherman. After serving as company director for four years, Francesco Aquilini will not stand for re-election.
King, a leading interactive entertainment company for the mobile gaming world which was acquired by Activision Blizzard (NASDAQ: ATVI) in 2016, announcement on June 13 that it acquired the 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 current 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 platform and game 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-money Esports tournaments. The Company is also the creator and game developer of the The elected 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 delivery service provider, which distributes electronic news via multiple online media. FNM is in no way affiliated with any company mentioned herein. FNM and its affiliates are a news delivery solutions provider and are NOT a registered broker/dealer/analyst/advisor, hold no investment license and may NOT sell, offer to sell or offer to buy securities. FNM’s market updates, news alerts and company profiles are NOT a solicitation or recommendation to buy, sell or hold any securities. The content of this release is intended for informational purposes only and should NEVER be construed or construed as research material. All readers are strongly urged to conduct their own research and due diligence and to consult with a licensed financial professional before considering any level of equity investment. All material included herein is republished content and details that have been previously released by the companies mentioned in this release. FNM is not responsible for the investment decisions of its readers or subscribers. Investors are warned that they may lose some or all of their investment when investing in stocks. For current services rendered, the FNM was compensated twenty five hundred dollars for media coverage of the current press release issued by Good Gamer Entertainment Inc. by an unaffiliated third party.
FNM DOES NOT HOLD ANY SHARES IN ANY COMPANY NAMED IN THIS PRESS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of 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”, “shall” or “should”, “expects”, “anticipates”, “draft”, “possibly” 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. significantly from those projected. in forward-looking statements due to various factors and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings by that company with the Securities and Exchange Commission. You should consider these factors when evaluating the forward-looking statements included herein and not place undue reliance on such statements. The forward-looking statements contained in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact information: [email protected]+1(561)325-8757