Tech

Investors say emerging multiverses are the future of entertainment – Report Door

Investors say emerging multiverses are the future of entertainment – TechCrunch

The COVID-19 pandemic is accelerating the adoption of new technologies and cultural shifts that were already well underway. According to a clutch of heavy-hitting investors, this dynamic is particularly strong in gaming and extended reality.

Unlike other segments of the startup and tech world, where valuations have been slashed, early-stage companies focused on building new games, gaming infrastructure and virtual or extended reality entertainment are having no trouble raising money. They’ve even seen valuations rise, investors said.

“Valuations have increased pretty significantly in the gaming sector. Valuations have gone up 20 to 25% higher than I would have seen prior to this pandemic,” Phil Sanderson, a co-founder and managing director at Griffin Gaming Partners, told fellow participants on a virtual panel during the Los Angeles Games Conference earlier this month.

Driving the appetite for new investments is the entertainment industry’s bearhug of virtual events, animated features, games and social media platforms after widespread shelter-in-place orders made physical events an impossibility.

About the author

Sharon Ross

Sharon Ross

Sharon Ross has been phenomenal in the success of Report Door. She is the super dedicated types, always glued to her computer. She talks less, but when it comes to work, she is behind none. She is a tech geek and contributes to the technology section of Report Door.

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