The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel – Read more: Serious business of games – Slow eyes $1 billion for e-sports cake

SINGAPORE – Like many parents, Ms Joleen Poe’s students initially worried that her interest in playing games in primary school would affect her studies.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

Ms. Joleen “Passionate” Poe (left) and Team TSL win the silver medal in the League of Legends: Wild Rift (Mobile) tournament for Singapore at the Hanoi 2022 SEA Games on May 18, 2022.

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“When I started getting prizes like money or gaming equipment or a laptop, they were more supportive, but my mother still wanted me to remember that studying is No. 1,” said Ms 26, who started the competition. Loch said. League of Legends game 17 years old.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

She did not expect that ten years later she would become a member of the first female e-sports team in Singapore. He worked full-time in joint operations at an eSports company while studying at the Singapore University of Social Sciences.

Ms Poh’s journey here reflects how e-sports, or professional competitive gaming, has evolved over the years – once described as “always addictive” by seasoned gamers, but now seen more as a career for some.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

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In October, Singapore became the first Southeast Asian country to host The International (TI), the world’s largest tournament for the multiplayer online game Dota 2, surpassing US$40 million ($55.3 million) in total prize money last year. .

This latest feather in the cap comes as Singapore struggles to capture a piece of the growing eSports scene. According to market research firm Newzoo, global industry revenue will grow from $996 million (A$1.37 billion) in 2020 to $1.14 billion in 2021. This year, that figure is expected to reach $1.38 billion.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

The growth trajectory is expected to continue. KPMG consultant William Sachet said: “eSports is expected to generate nearly $1.6 billion in global revenue by 2023, double the $776 billion in 2018 – with East Asia contributing a third of that revenue “. Singapore, refers to the company’s published 2021 business report.

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The financial opportunities offered by this industry cannot be underestimated. Singapore Tourism Board (STB) Executive Director of Sports and Health, Ms Ahn Ling Lee, answered today’s questions: As Singapore continues to grow as an eSports destination, we will continue to attract gaming companies with regional ambitions to Singapore. . “

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

“Live broadcasting or streaming of eSports events is a great branding opportunity for Singapore, making it a top destination for eSports fans around the world,” he said.

According to data released in March 2021 by database company Statista, the global eSports audience grew from 397.8 million in 2019 to 435.9 million in 2020. It is expected to reach 577.3 million by 2024.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

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Local individuals, companies and eSports associations interviewed today were quick to point to several factors that make Singapore attractive to tournament organizers, including the island’s excellent technology and business infrastructure.

Investing in these strengths will help Singapore’s eSports industry grow, revitalizing the tourism industry and making up for lost ground after two years, they said.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

Regardless, Singapore has a lot of work to do to establish itself in the global eSports industry beyond hosting international tournaments. This includes building the domestic talent pool in eSports and making it more attractive as a career option.

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When it comes to money, industry insiders say the way eSports works is similar to the way other traditional sports like football work.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

These athletes receive a base salary in addition to bonuses and a cut of the company’s revenue from endorsement deals and merchandise sales. Streaming video game content is another source of revenue, stakeholders say.

While the actual quantum varies—depending on factors such as the popularity of the game titles the athlete is competing in and how much the management company can afford to pay—some stakeholders say the base salary for top esports athletes is average . From S$3,000 to S$5,000 per month in Singapore.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

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Mr Nicholas Ho, co-founder of the Singapore Online Games Association (Scoga), said he knew paid team managers and top players “like a (university) graduate”.

At the same time, for smaller games, this leads to lower viewership and lower ad revenue.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

Dominik Reitmeier, 29, is a competitor-turned-competitor with experience playing for teams in Europe, China and Singapore, where core revenues have “lagged significantly behind” those in more mature markets, he said.

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Legendary Dota 2 pro Daryl Koch, otherwise known as “Ice Skate,” has earned over $1.8 million in prize money so far in his career, which began in 2011.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

In 2016 Reitmeyer and Mr. Mr. played with the coaches. Wong Zhengyi, aka “Nuts,” won $230,000 before announcing his retirement last year. Team Faceless disbanded in July 2017.

G. Reitmeier remembers his competitive days, the weeks or months leading up to the tournament consisting of physical conditioning and game training. Competitive players usually look beyond their strategy to bad playing habits and mistakes made during practice.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

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“It’s like any normal sports game, if you don’t get rid of these habits early, they stick around and ruin your chances of winning,” he said.

Former competitor Mr Kelvin Tan, who is now the secretary-general of the Singapore eSports Association (SGEA), said the team was part of impressing parents that becoming an eSports athlete was a disciplined endeavour. and comprehensive training.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

“They shouldn’t (just) play 10 hours a day, just forget about school and stuff. It’s not about being an eSports athlete, it’s like normal games.”

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“Esports is really about training and living the athlete, and it’s mixed with how to eat and exercise and rest and things like that,” he said.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

However, many Singaporeans cannot commit to such a system full-time. In fact, eSports players here often have to juggle their passion with other commitments such as school and work.

Before players start competing in the big tournaments, they first need to improve their skills and climb the game’s rankings to attract the attention of teams.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

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A confluence of factors, from the explosive growth of digital devices to pandemics and lockdowns, has fueled the growth of the global eSports industry.

While this development gives some the opportunity to turn gaming into a serious industry, it also means that, in the bigger picture, countries are seeing an increasingly lucrative slice of the pie.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

Some experts say Singapore’s investment in building a strong digital infrastructure has been instrumental in attracting major esports events here, allowing it to capitalize on positive trends in the industry.

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“From fast internet speeds to venue options and robust events, Singapore also has the ideal infrastructure to host eSports events, as seen in M2’s ability to host highly popular events such as the World Cup, for free. Fire World Series, Wild Rift Icon Global Championship as well as one of Singapore’s premier sports,” said Singapore Gaming Association (SGGA) Vice President Ms Alicia Lee, referring to the major gaming tournaments held here recently .

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

“Other important factors that consumers don’t see are ease of entry visas and efficient processing of documents required for employee and group travel,” he said.

League of Legends players will participate in Hyperplay, an eSports tournament on August 4, 2018 in Singapore. Singapore’s investment in building a strong digital infrastructure has been key to attracting major eSports events here. Some experts say that is the trend in the industry.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

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Industry insiders said that holding high-level e-sports tournaments will not only increase Singapore’s brand value, but also contribute to the development of the local gaming industry.

Miss. Lee said: “In terms of skill and expertise, organizing such eSports events is crucial in providing opportunities for our local companies to gain experience and expertise.

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

However, Mr. Neo Yong-ik pointed out that such an exchange of big events would only benefit the few professionals here. G. Neo founded NEO.TM, a regional event management company, and The Gym, an eSports streaming and events platform.

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“Most of them (publishers and managers) use foreign production

The Piece Of The Gaming Pie That’s Growing Is Microtransactions, Says Verge’s Nilay Patel

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