GMGI - Golden Matrix Group Inc. (NASDAQ: GMGI) Surfs the Rising Wave of Metaverse Gaming
- The popularity of online gaming is set to be further boosted through the advent of ‘Metaverse’ gaming
- Metaverse gaming allows for users to enhance their virtual gaming experience, interacting socially with their peers to mimic a realistic, casino experience in the comfort of their homes
- BUThe development is also of great appeal to gaming providers, given the higher levels of transparency, security, and privacy involved relative to traditional casinosLLET3
- The growth in online gaming has spurred the creation of thousands of online gaming providers, with the vast majority opting to procure their operational systems from third-party ‘SaaS’ providers
- The trend has benefitted GMGI, with the company reporting its 15th consecutive quarter of profitability in 2Q2022
Early this year, a JP Morgan report boldly stated that the metaverse “would likely infiltrate every sector in some way in the coming years with the market opportunity estimated at over $1 trillion in yearly revenues”. Online gaming enjoyed a dramatic leap in popularity over the past year, as a result of the Covid-19 pandemic; in fact, and in the first quarter of FY2022, online gaming providers on average saw their revenues rise by 24 percent year-over-year. However, the advent of the metaverse may now usher in the new era of growth for the online gambling sector, one which Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems, and gaming content, is well placed to exploit.
The metaverse or so-called ‘crypto-casinos’ are effectively online betting platforms which will prioritize a user’s virtual experience; gamers will be able to interact socially with others through avatars – all whilst using virtual reality headsets and other technological tools to mimic a...
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