Although 2022 proved to be a successful year for the virtual world and its foundational metaverse platforms, their Successes at the beginning of 2023 questionedwhen the biggest players in the industry – the Facebook group Meta and the software manufacturer Microsoft – initiated a turnaround with regard to digital technologies.
Nevertheless, open-world games like Roblox and Fortnite, which offer a lot of freedom for players, remained influential. This is also reflected in the financial results of the US Metaverse game developer Gamefam. In his first report, ‘State of Brands in Metaverse Gaming’, he reported his “most successful year to date” for the 2023 financial year.
The company was able to increase its sales by 35 percent compared to the previous year and thus grow for 16 quarters in a row. At the same time, the game developer was able to expand its own and operated network to 30 games, thus exceeding the limit of 29 billion gaming sessions to date.
In addition to a number of brand successes, including the launch of Barbie DreamHouse Tycoon and Roblox games for the US professional football league NFL, this year highlighted the importance of virtual merchandising for Gamefam. The NFL hoodie from the Metzingen fashion group Hugo Boss and looks for digital concerts from the US singers Saweetie and Bebe Rexha were among the highlights.
In total, Gamefam sold more than 2.3 million virtual merchandise items during the year, a 100 percent increase compared to the previous year and a proven means of increasing brand visibility and fan engagement on these platforms.
Despite ongoing skepticism about the future of the 2024 Metaverse, Gamefam shared that expectations for the coming year are even higher. The company added: “As the industry moves beyond the testing phase and brands understand the potential of marketing in the Metaverse, Gamefam expects greater investment from major brand names and expects new Metaverse gaming platforms to gain momentum.”
This article originally appeared on FashionUnited.uk. Translated and edited by Heide Halama.