Gaming is a vast industry where you can earn money in many ways. Some develop a game that becomes a hit with millions of users. Others work on innovative technologies that can be implemented in games. There are so many options the brave and the bold can use to turn their passion into a business. One of the most obvious ways is already described in the article Professional gaming: is it viable?

What is the video game industry?

There are many myths surrounding video games that have formed a persistent stigma. For example, one of the misconceptions is that only teenagers are interested. However, according to research, about 47% of the surveyed gamers are parents themselves. Others think that games are a man’s world. Contrary to this belief, Statista found that the gaming world in the United States is about to achieve gender equality. The gaming community is growing along with the fans’ demands. A successful gaming entrepreneur knows how to meet the audience’s expectations.

Gaming industry opportunities you can use

It’s important to understand that although gaming is one of the younger industries, it already has its leaders, and competing is a challenge. Therefore, either you create something entirely new or join them and improve on what’s already there. For instance, if you want to design a gaming setup like gaming consoles, you can hardly outbid PlayStation or Xbox.

Game development

The most obvious way to make money in gaming is to develop a game. This is hardly a groundbreaking idea. However, many game developers who have all the necessary skills and tools fall into despondency when it comes to implementation. What game can one produce?

Suppose you want to develop your game as an esports discipline. In that case, you will need to make it in a competitive genre from the outset: it might be a first-person shooter, a multiplayer online battle arena, or a battle royale. At the same time, top multiplayer games attract the biggest gaming audiences, so you have a slight chance to lure some away. Perhaps the most reliable way is to found your own game studio or join a huge game company.

Cutting-edge technology

Industry innovations allow to expand gaming experience. What was impossible in the ‘90s is now part of the ordinary gameplay. Thanks to new technologies such as virtual reality (VR) and augmented reality (AR), players can immerse into an enjoyable digital journey. However, these technologies leave room for improvement. Using them as a blueprint, you can create your own product, but better. Simply put, gaming entrepreneurs can design anything from hand controllers to improved sensor-equipped gloves and glasses that make players experience gaming action in an immersive way.

If you don’t have a technical background but still want to dabble in gaming entrepreneurship, create game-related content.

Streaming

Earning money by playing games. It may sound like a dream, but it is an actual profession. However, to achieve something, you will need to stand out from other streamers that play games. Work on the specific game title you are best at, come up with your own edge that will catch the audience’s attention, and so on. Whether you run a live stream on YouTube Gaming or Twitch, you need to have a well-thought-out strategy.

Blogging

Gaming experts can write about what they know. For instance, as a blogger, you can create gaming guides, talk about computers and other equipment, describe the latest deals of gaming companies, and generally keep people in the loop. It takes a lot of effort and time to start earning money with your blog.

Esports

Read Competitive gaming: from a hobby to a profession to find out what doors esports can open up for you. In a nutshell, you can participate in tournaments with real-world prizes. Found a young team to start your esports career, but remember that this is a very competitive path where only a few get to the top.

Famous gaming entrepreneurs

Mark Pincus

Mark Pincus is the founder of Zynga, a mobile social gaming company. Within four years, Pincus took the organization public and got an initial offering of $1 billion. In addition, he founded the non-profit organization Zynga.org, which is engaged in international humanitarian assistance and charitable initiatives.

Palmer Luckey

Palmer developed the first prototype of a virtual reality device at 18. He founded Oculus VR and raised $2 million on Kickstarter, then Palmer sold the company to Facebook for $2 billion in 2015. At the same time, Palmer keeps working on devices that improve the augmented world experience and the virtual one.

Tim Sweeney

Tim Sweeney founded Epic Games, the company behind Fortnite. In addition, Tim Sweeney developed Unreal Engine, a game engine. With Unreal Engine, game developers can work on 3D virtual worlds taking advantage of advanced tools for free.

Designing their product, game entrepreneurs go through many mistakes and failures to achieve something in the future. You can work on any innovation or technology to make things the gaming community needs. If you manage that, success will be yours someday.