Gaming 2023 Year in Review

Some bad, plenty of good

Welp, I think it’s fair to say that 2023 was a mixed bag for gaming.  

Gaming and tech announced round after round of massive layoffs despite—in many cases—record-setting revenue and stellar stock rebounds.

While TBD for this year, 2023 followed on the first contraction in average player spend ever. 

The final nail was put in the coffin of many so-called metaverse worlds amid lackluster attempts at traction.  

But it’s not all doom and gloom.

AI proved that it has a place in gaming. 

Web3 gaming rightfully took its place as the top performing category in NFTs and active wallets.

And user generated content took center stage through UEFN, Roblox, and even surprise entrants into player control from games like Tears of the Kingdom. 

The most exciting take-away for me was that innovation, whether in AI, UGC, VR/AR, or web3, continued in spite of a dour investment scene (with the exception, perhaps of in AI), uncertain global stability, and few if any non-incumbent blockbusters. 

It was also a year in which non-endemic companies (consumer brands, sports teams, media companies, etc.) went even deeper into licensing, building their own titles or experiences, and partnering with the games. Since gaming did nothing but get bigger over this time—in players and revenue—this makes a lot of sense. 

But it’s with the culmination of areas of innovation in gaming, especially in AI, UGC (including what this means for advertising tech), and web3, that we’re starting to finally see entities outside of traditional games really see the value of what the world’s largest entertainment industry has to offer. 

For the first time, it’s possible for brands to sell in-game items that they can seamlessly incorporate into their core business thanks to blockchain-based infrastructure, while simultaneously understanding and being able to access that consumer. 

It’s the first time that a sports team can near instantly generate items that can be leveraged inside of any game or collection. 

2023 is when user generated content went truly mainstream beyond the old mainstays of sandbox titles. 

We’re all on the cusp of the future of gaming, and I’m excited to see what happens in 2024. Here’s to all the people in this space that I love, who help drive forward the next generation of gameplay and fun.