In 2020, the gaming industry hit unprecedented highs. Revenues surged for gaming-related businesses, and are now on track to surpass $200 billion by 2024. Mobile gaming, the fastest growing segment, will clear $120 billion alone. To take advantage of the surge in growth and new monetization opportunities, it's key to understand the changes and trends that will impact the industry in 2022. That's where the 2nd Annual GamesBeat and Facebook Gaming Summit comes in.
Emerging technologies including AI, virtual reality (VR), augmented reality (AR), 5G, and blockchain (and related digital currencies) have all progressed on their own merits and timeline. Each has found a degree of application, though clearly AI has progressed the furthest. Each technology is maturing while overcoming challenges ranging from blockchain's energy consumption to VR's propensity for inducing nausea. They will likely converge in readiness over the next several years, underpinned by the now ubiquitous cloud computing for elasticity and scale. And in that convergence, the sum will be far greater than the parts.
The metaverse may be the receptacle for our dreams of the future, but you can invest in it now. This particular ETF lets people invest in a bunch of the companies that are either already making the metaverse happen or are positioned to do so in the future. As GamesBeat readers may have memorized by now, the metaverse is the universe of virtual worlds that are all interconnected, like in novels such as Snow Crash and Ready Player One. And the Metaverse ETF has been created by Matthew Ball, a futurist and investor, and a number of other visionaries such as Jacob Navok, CEO of Genvid Technologies. They claim they have done the hard work researching the metaverse so you don't have to, and in doing so, they're espousing the notion that the metaverse can democratize everything.
Adobe believes that the metaverse is going to blur the distinctions between the digital world and the physical world, and it wants to provide the tools to enable that. That's one of the main messages of the Adobe Summit 2022 that kicks off today. The Adobe Summit 2022 is fully virtual and powered by Adobe Experience Cloud, which is now used by 75% of Fortune 100 companies. "Increasingly, we're using the digital world to do things that we once only did in the physical world. The ongoing conversation on the metaverse reflects the fact that the distinction between what people do in the physical and virtual world is blurring," said Shantanu Narayen, CEO of Adobe, in a statement.