The online entertainment industry has always been the market leader in this highly digitalized and fast-growing world. The influx of technologies creates better and engaging digital platforms for online users worldwide. The online entertainment industry of the US was valued at $183.4 billion in 2019.
The rising demand for online entertainment portals and digital media is expected to grow by 100% in the upcoming years. Over the years, the digital revolution has impacted various international markets and digital trends. A decade back, who would have thought, people would prefer streaming videos and digital content on their smartphones and smart LED screens?
Our routines have changed a lot from then. The online entertainment industry is expected to undergo further modifications and updates in the upcoming years, where technological integration will peak. Online entertainment portals and various streaming websites are accessed by every 9 in 10 individuals. In the upcoming years, the online entertainment industry will be dominating land-based and physical entertainment spots.
Which Technological Developments Are Expected to Improve the Entertainment Industry?
Non Fungible Tokens (NFT) have been introduced on various online portals and digital networks all over the world.
Thousands of seasoned online gamers love spending time on virtual platforms playing animated and graphical games involving mining, movement, and development of cartoonish characters. Cartoonish characters and digital graphics are captured as unique NFTs which can be sold against specific values to earn online profits. Explore NFTClub to discover more about earnings from NFTs.
In the third quarter of 2023, about $10 billion worth of NFTs were traded online via various digital platforms. The entertainment industry is updated and revolutionized by online gaming methods and graphical tools. NFTs are directly transferred into the recipient’s e-wallet by entering the correct wallet code and unique number.
The trade of NFTs is expected to be regularised on various e-gaming platforms where gamers can exchange NFTs against game tickets, coupons, playing currency, etc. Moreover, online users would use NFTs to pay for their online subscriptions to different streaming accounts and portals.
Since the outbreak of the Covid-19 pandemic, many individuals have preferred staying back in their comfy living spaces. With the integration of VR technology and headsets, individuals can experience virtual online entertainment platforms while sitting in their living spaces. The integration of VR resources is considered the most promising integration for the online entertainment industry. Individuals spending time on Youtube, Netflix, Amazon Prime, and other streaming platforms can experience 3D effects and feel the virtual world around them.
More than 57 million VR users across the US, giving rise to the need for VR casinos and gaming platforms. With the ongoing development of virtual online casinos, avid gamblers can spend time gambling in virtual casinos. Virtual online casinos would be packed with thousands of other virtual online players experiencing the lighting environment of online casinos through their VR headsets and devices. Every gambler craves to feel the electrifying lobbies, tables, and digital slots machines of online casinos which can only be made realistic by integrating VR technology.
Digital Wallets and Global Payment Gateways
Technological integration has improved user experience and digital accessibility. The availability of digital money and e-wallets has assisted various online users, who spend most of their time on different e-commerce, retail, and entertainment websites searching for the best products and paid digital content. Shared wallets have made online trading convenient and user-friendly for all online users.
Around the globe, digitalized e-wallets have been added to multiple digital platforms offering various products, online services, etc. Online trading and gambling platforms have integrated multiple e-wallet extensions to provide a wholesome digitized ecosystem for individuals who use e-wallets to purchase tokens and products in exchange for BTC and other cryptocurrencies. Google and Apple pay are among the most recognized and reliable shared wallets preferred by online users.
BTC and other cryptos are being accepted on more than 16000 online platforms where online users can pay via e-wallets and other digital streams. Avid gamblers search for the best gambling platforms with integrated e-payment options and modern online technology. PokerStars US casino is among the most virtually updated and user-friendly online casinos, offering multiple payout options including Skirll and Paypal. With the convenience of global payment systems and shared wallets, avid gamblers can buy online playing chips and currencies through BTC and other cryptocurrencies, you can find more information on this and other sites on the Gambling.com US site.
With the influx of digital currencies, Visa Debit and Credit are replaced by digital wallets, easy to set up and link with online banking accounts. However, in the upcoming years, it is expected that online gambling and betting platforms will be introducing online tokens that can be used for subscribing to various content streaming platforms. Moreover, online casinos would start accepting NFTs, which are expected to be the game changer and trendsetter in the online entertainment industry.
Voice Assisted Technology
Whether it be the online entertainment industry or any digital industry, it needs to integrate voice-assisted technology for creating better digital platforms. Moreover, with the integration of voice-assisted technology, thousands of gamers with disabilities can start playing various games and participate in global world events. Every online entertainment platform can develop its voice-assisted feature with the support of artificial intelligence and machine learning softwares. Siri, Cortona, and Alexa are globally accepted voice-driven solutions for various electrical gadgets and appliances. Online gaming platforms and streaming websites can offer extensive voice recognization services for online users with disabilities and restrictions.
Integration of intelligent facial recognization softwares is being implemented in laptops, smartphones, and e-attendance registers everywhere. Facial recognition tools are used to capture user reactions, record user emotions, and strengthen security and unlock features. The online industry can record various dubious online users involved in unethical acts and communications with facial recognition tools. Integration of facial recognization softwares would undoubtedly strengthen online digital platforms, which are accessible to thousands of users worldwide. Moreover, when signing up on online platforms such as Netflix, Amazon Prime, Facebook, Instagram, online casinos, and betting sites, users can be asked for facial scans like the Face ID unlock system in recent Apple devices.