Written by Geekosity Staff
Pop culture is something that we all engage with on a daily basis, but only some can pin down a thorough definition of what it is. To put it in as few words as possible, pop culture is a ‘collection of practices that engage us as a larger society’. It’s normally associated with the media and how we communicate these shared ideas – like through games, TV, films, magazines, music, etc.
Gaming is one of the fastest-growing industries and has been for quite some time, which has meant that it’s had a particularly large impact on wider pop culture. It is an industry that sets the trends, allowing others to try and catch up. In this article, we’ll be exploring the influence of gaming in wider pop culture and some of the current trends that we expect to see becoming more mainstream very soon.
The Introduction of Digital Payments
One trend that has been taking the gaming industry by storm is the popularity of cryptocurrencies. For making digital payments within games, coins like Bitcoin and Ethereum are becoming a common way for players to invest in their favorite games – whether buying a new outfit for their character or placing a bet at a virtual poker table. Players have embraced the introduction of cryptocurrencies in many games, and the top crypto betting fun facts and statistics show that hundreds of millions of people have embraced crypto, as players seek faster, safer, and more reliable global payments when gaming.
The gaming industry is a good use case that demonstrates the usability of cryptocurrencies online. Players have now set up their own in-game trading communities and become used to the value created by crypto-funded NFTs. It’s a trend that’s started to influence many other industries, from paying for cinema tickets using approved cryptocurrencies to using Bitcoin to unlock rewards on streaming platforms that grant you access to rare NFTs. The uses of cryptocurrency haven’t even reached the lengths that many anticipate, which just shows that as this digital currency evolves, so will its influence on pop culture.
The Economics of Gaming
One thing about the gaming industry is that it knows how to make some serious money. In 2022, global revenue from the gaming market hit a staggering $347 billion, far higher than the likes of popular industries like music and film.
What has set gaming apart from other industries is its ability to find new, lucrative revenues of income that go far beyond just the sale of games. Unlike a decade ago when you would buy a console and buy individual games to play, things are a lot different now. It’s more common for gamers to play from their computer, pay a subscription for a game pass, buy the games, and then make purchases within the game too.
Not only are in-game revenues soaring, but the industry has also made a hefty profit on introducing esports events that allow for real-time betting, as well as related merchandise that gamers are willing to spend thousands on every year.
It’s something that’s been replicated in many industries, most noticeably within film and TV. Not only are streaming platforms operating on a similar subscription-based model, but it’s easier than ever to collect merchandise of your favorite film, TV show, or character directly from the production company. As a marketing tactic, merchandise collections are used to tease the revival of fan-favorite series, to get fans excited for the release of new films, or just to build brand awareness for certain characters.
The Allure of The Celebrity
Celebrities are an undeniable part of pop culture and, with the rise of social media, their status has been elevated to astronomic limits. With 24/7 access to what they’re doing, eating, reading, and thinking, their influence knows no bounds.
Endorsements and advertising campaigns that feature familiar celebrity faces are no strangers to the public eye, but the gaming industry has expertly capitalized on this phenomenon wholeheartedly. A new breed of celebrity has become mainstream in the past decade; gaming streamers. The likes of Pewdiepie, Ninja, and Shroud are examples of gamers who earn money through streaming and other lines of revenue which has in turn brought more attention to the gaming industry through product placement and other marketing campaigns.
We’re seeing a similar effect in the fashion and film industry. Fashion influencers are encouraging millions of people to buy more clothing, shoes, and accessories through well-placed pictures on Instagram (which brands will pay thousands to feature on), and we’re seeing more influencers being placed in film cameos to draw more attention to an upcoming project.
The Future of Gaming
The future of gaming is something that no expert will be able to predict, but we’re excited to see what new trends and technologies they introduce – and how other industries try to follow!