The Gaming Industry's On Track To Reaching A $222B Value Thanks Partly To Gen Z
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The Gaming Industry's On Track To Reaching A $222B Value Thanks Partly To Gen Z

Much like the world as we know it, the gaming industry continues to evolve and soar to new heights. What was once the basis for mobile gaming has changed, thanks to Gen Z, and the money to follow is proof in the pudding.

According to Vogue Business, the generation is partly responsible for helping to “boost the industry’s valuation to $222 billion this year,” and that number might not go down anytime soon.

Another contributing factor to the 2.7 billion gamers who account for the top-grossing U.S. games is the influx of women gamers. They currently make up for a bulk of the consumer spending and are a part of the demographic helping to make the industry appeal to luxury brands.

Why Gen Z?

Unlike Gen X and Baby Boomers, Gen Z sees a lot of value in virtual keepsakes, which is a game-changer now that the Metaverse continues to reshape the world as we know it. Gaming platforms are taking heed to the love of virtual items by increasing visibility in the space.

Last year, Fortnite switched the game up when it partnered with its first luxury brand, Balenciaga. In the collaboration with the iconic luxury fashion house, the gaming program provided users with four virtual outfits, known as skins, along with accessories and weaponry. There was even a virtual Balenciaga shop for users to access within the game.

Gaming in The Virtual Landscape

Other platforms like Roblox have become the home to big brands like Gucci, Ralph Lauren, and Nike which has attracted a lot of female Gen Zgamers. Top genres to download include action, puzzle, and simulations.

“We’ve seen designers on Roblox designing virtual fashion for years before everybody took notice,” said Roblox Vice President of Brand Partnerships, Christina Wootton, according to the outlet. “They’ve already been getting feedback on what resonates well. They’ve been having virtual fashion shows and coming up with their own trends.”