The Entertainment Electronic Expo, more colloquially known as E3, recently wrapped up their big bonanza, and arguably the biggest talking point coming out of the annual event was virtual reality and where VR fits in when it comes to the evolution of video games. Most agree – virtual reality is assuredly the future of gaming. One company, Minkonet, is so behind the VR phenomenon that they are prepping to introduce the first ever technology that will enable the live streaming of virtual reality versions of hit video games over social media.
“360° virtual reality is the next video gaming platform,” said Peter Kim, founder of the Seoul-based company. Minkonet has developed a software program called Swing that will be released in its beta format in August. This software will enable game developers to live stream VR versions of games to social media platforms like YouTube and Facebook. In November, Swing360, a more advanced version of the software, will be released and allow anyone to upload their live and recorded game play to social media. By adding live-streamed virtual reality into game play, gamers and viewers alike can become much more immersed in gaming.
Gameplay videos are a hugely popular and lucrative form of media. Experts predict that this year alone around 150 million people will watch professionals playing video games online. This practice is also known as “e-sports” and is responsible for generating half a billion dollars in global revenue. YouTube estimates that 15% of videos uploaded to its site are related to gaming, which is a huge market for Minkonet to tap into. Minkonet has been blossoming as a startup in recent years – the firm garnered $1 million in funding from a tech incubator program sponsored by the Korean government, and is inches away from closing a multimillion funding round that is reaping massive dividends. If you’re going to put your money where your mouth is, these days, virtual reality is a pretty solid bet.