As the metaverse catches speed, gaming is all set to cash in. However, the first hurdle to be solved is accessibility, to help users realise the possibilities it presents. Alter.game is out to make that happen.
Metaverse is lighting up the tech space today, and with even the largest companies in Silicon Valley refocusing their efforts and investing billions of dollars on developing tech for the Metaverse, it is inevitably the next paradigm shift in human interaction with technology. The Metaverse is conceptualized to be a virtual 3D space that can imitate all the activities that we currently engage in the real (physical) world, like interacting with friends, visiting new places and even running businesses.
Besides that, the real promise lies in the possibility that the virtual world can simulate experiences beyond human capabilities as well. This future in this space is full of excitement and a revolutionary promise, Bloomberg Intelligence has estimated that it will hold a market opportunity of $800 billion by 2024 and Morgan Stanley sees it as one worth $8 trillion by 2030. This immense untapped potential is why companies are trying to enter at the ground level. And Alter.game is poised with just the product that opens a pathway in one particular (and lucrative) niche of the metaverse - gaming.
Games already have elaborate virtual worlds and this metaverse is the next logical step to enhance this experience. However, in order to experience the Metaverse, customers ideally need to make significant investments - from hardware to software - to acquire the ability to create their own worlds in the Metaverse. More importantly, they are often beholden to the platform where their game is hosted. Alter.game looks to address this gap. The India-based gaming company has a simple solution - bringing the Metaverse to the one piece of hardware everybody already has - the mobile phone. Mobile phones already account for 7 in 10 gamers around the world and by extension command the lion's share of the revenue from gaming.
By focusing on mobiles first and democratizing the Metaverse, Alter.game is looking to capture a significant portion of the market around the world that can readily adapt their offering. Eventually, the vision is to create a fluid, cross-platform experience for its customers. And more importantly, open the monetisation spigot for almost every user, just like killer apps such as YouTube and Instagram made it possible for video content.
Today, 70% of revenue for gaming companies comes from the sale of virtual goods. This means that the Metaverse is an enticing business opportunity for gaming companies like Alter.game. Moreover, The Metaverse and the real world exist in conjunction with each other. The virtual economy can have users conduct businesses with currency on the blockchain that can be used in the real world too. Similarly, advertisers from the real world can sell products and also market their brands in the virtual world. The Metaverse has the ability to create innumerable business opportunities for individuals and brands alike and by capturing a large user base, Alter.game puts itself at the forefront of this revolution and believes they have the killer app at hand.
Arjun Shetty, the founder said — "We want to mainstream 3D creation with immersive experiences which are filled with rich, engaging, 3D, interactive, and personalised content. We will build a decentralised blockchain-based creator platform in which people will play games, connect with friends, and run businesses in a fully immersive space where we cohabitate in real-time. Here, one can interact with, create, and own platform-agnostic digital assets and content. Also, instead of renting an audience from the present social media behemoths and being at the whim of their algorithms, individual creators and game developers can cultivate an owned audience on the platform."
The jury is still out on which devices will make such experiences ubiquitous in the metaverse, but since 80% of humans on earth have a smartphone, we want to build a mobile-first but cross-platform product that will fuel this creator economy in the metaverse!
Alter.game will be the portal to the metaverse and will help fuel the creator economy.
About the Author:
Mr. Arjun Shetty, Co-founder/CEO
Arjun Shetty is Co-founder & Chief Executive Officer of LeagueX. Arjun, a lifelong fan of strategy games and real-time fantasy, combined his experience in Digital Product Development and co-founded LeagueX in 2018 along with Amar Subbaiah, and currently oversees the company’s product development, strategy & operations, along with driving partnerships. Under Arjun's guidance LeagueX has evolved as one of the first fantasy providers to roll out unique features like Instant withdrawal, flexible team creation experience, Socialization with Rivals, Chat and new variations of contests. He is the mind behind the company’s strategies in game design and development, game analytics and game operations and revenue.
In his previous role, Arjun was the COO of a Product Development studio and under his leadership, the team of over 70 developed several apps and digital products including the Official IPL fantasy Sports platform for the BCCI in 2017 and 2018. The other products include e-commerce platforms, Car Service aggregators, logistics marketplace, Travel etc and severalother products that impact people, businesses and enterprises.
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