Diversified Financial Network Inc. (DFNN) has stated that for-profit gaming will remain an important part of the gaming industry.
The Manila Times reported that gaming as a source of income has increased in frequency over the past few years, partly because the pandemic has prompted people worldwide to seek out new sources of entertainment or turn a hobby into a hobby. way to make more money.
The Philippines has been ahead of this path, being identified by the World E-Sports Federation as the e-sports hub of the SEA region. What started as a hobby for gamers has become a phenomenon, and in 2016 the Philippine team TNC Gaming became the champions of the International Dota 2 Championship.
DFNN CEO Calvin Lim said: “Digitalization has created a huge space in society, especially in the past few years. It only makes sense given how digitally savvy Filipinos are.” Thanks to their current popularity, online gaming in the Philippines has had a richer history, thanks in part to the rise of Game Administrations or POGOs.
POGO provides gaming services to people abroad, however they must be officially licensed by the government. POGOs have been on the rise since 2016. Earlier this week, the government shut down 216 such operations, deporting six out of 400 illegal immigrants from China, ABC News reported. The visas of 48,000 Chinese immigrants will be cancelled.
Now, the government is facing calls to ban even legitimate operators, despite the fact that POGOs have generated more than $508 million in revenue and fees since 2016. Despite the claims Calling this call, many companies have continued to develop their gaming preferences in this Southeast Asian country. DFNN launched its InPlay mobile game platform in 2020. InPlay enables remote game access across all devices, making it the first legal mobile platform in the Philippines.
In 2021, Philippine blockchain gaming community Yield Guild successfully raised $4.6 million in a funding round. Meanwhile, NPD games industry analyst Mat Piscatella said: “Content performance was driven by double-digit percentage increase in non-mobile video game subscription spend dynamics, which was offset by declines across other content segments.”