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Why does the Star Atlas team think the game will be a success? Is it the right time? Is it going to stay in beta for 8 years like Star Citizen or are we actually doing it right this time? In this episode I’ll go over all of the market research that the Star Atlas team did to prove this concept in its initial stages which was 2020.
First, in 2020, Business Insider said that quote “In 2020, video game players will spend up to $4.5 billion on VR gaming or immersive gaming... " Business sInsider was wrong. Players didn’t spend $4 billion on VR and AR, they spent $12 billion.
They also said that quote “The global gaming industry will grow at a Compound annual groth rate of 12% between 2020-2025..." Wrong again, currently its at 13% percent.
Statista counted 2.7 billion gamers in the year 2020. That number is now at 3.24 billion in 2021.
[whisper] (If you haven’t noticed, things are better than they predicted)
Additionally, let’s zoom in from gaming in general to the use of NFTs.
In 2018, the majority of NFTs sold were collectibles of some kind. I’m talkin, the vast majority, so 5 million of all NFTS sold in 2018 were collectible and only 1,4 million NFTs were strategy or RPG focused. In 2019, that changed to them being almost equally parts collectible and equal parts strategy or RPG and it’s still trending in that direction. And the start atlas team thought (at the time of them forming the company) that if Cryptokitties could make $38 million and Decentraland could make $24 million, then there was a place for them. They also went on to say that DeFi and Online gmabling markets were set to rise as well. Now read into this all you want, but I think the general sense here was that this game will attract all sorts of players, as crypto does.
Next, let’s get into our competition. Will Star Atlas survive among the current landscape of gaming, particularly, space gaming. At the time of their formation, Star ATlas will be the only space game built on the block chain. All these other popular 2020 titles like Eve Online, Star Citizen, No Man’s Sky, Everspace, Stellaris, Elite Dangerous and Star Conflict are all build on the US dollar and all rely on the middlemen of of either the company themselves or other financial institutions.
So in 2020, this was their way of saying, yeah, there’s a spot for us here. And it’s even more so now. Star Atlas is on every content creator and financial advisors top 5 metaverse projects in development, there are making great progress on their promised featured like the marketplace and the mini game, and the blockchain isn’t going anywhere. Does anyone remember who amazing EVE Online was. Heck, it’s still super fun to play, but it’s so hard to get started because it now has almost 20 years of gameplay, battles, factions, and politics that make it feel near impossible to succeed. But i’ll tell you what, it’s still going, and if Star Atlas can take a model like that, and ultimately aim to give the power of the game to the people? In my opinion, that’s a great market fit and I’m sure glad they did that research last year.