11.8 C
New York
Friday, November 27, 2020
Home STARTUPS Investors say emerging multiverses are the future of entertainment

Investors say emerging multiverses are the future of entertainment

The COVID-19 pandemic is accelerating the adoption of new technologies and cultural shifts that were already well underway. According to a clutch of heavy-hitting investors, this dynamic is particularly strong in gaming and extended reality.

Unlike other segments of the startup and tech world, where valuations have been slashed, early-stage companies focused on building new games, gaming infrastructure and virtual or extended reality entertainment are having no trouble raising money. They’ve even seen valuations rise, investors said.

“Valuations have increased pretty significantly in the gaming sector. Valuations have gone up 20 to 25% higher than I would have seen prior to this pandemic,” Phil Sanderson, a co-founder and managing director at Griffin Gaming Partners, told fellow participants on a virtual panel during the Los Angeles Games Conference earlier this month.

Driving the appetite for new investments is the entertainment industry’s bearhug of virtual events, animated features, games and social media platforms after widespread shelter-in-place orders made physical events an impossibility.

Source: TechCrunch

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

Delhi Chalo march: Punjab farmers face water cannons, push through Haryana barricades

Farmers from Punjab faced water cannons and broke police barriers at the state's border with Haryana as they pushed towards the national capital Thursday...

Is 2020 The Worst Year Ever? | Here’s What Historians Explain

The year 2020 began with a massive terrible bushfire in Australia that literally killed or displaced 300 crore animals. Later we had the COVID-19...

Democracy was tested this year, people up to the task: Biden

US President-elect Joe Biden has said democracy was tested this year when coronavirus hit and the people of the country showed that they were...

Trade unions in TN extend support to nationwide strike

Members of various trade unions in Tamil Nadu on Thursday took part in the nationwide strike to protest against the central government's new farm...

Recent Comments

%d bloggers like this: