NBA video games in digital actuality have potential. This is what watching one is like

Jabari Young wears the Oculus Quest 2 device.

Source: Jabari Young

Boston Celtics head coach Ime Udoka emerged from the team bench and before I knew it he was blocking my view. Indiana Pacers coach Rick Carlisle was close enough that I could see his Cole Haan boots and I saw a Lance Stephenson 3 pointer from an angle I had never seen before.

These are just some of my recent experiences watching an NBA game while wearing a virtual reality headset.

The National Basketball Association is offering virtual courtside courts Meta‘s $299 Oculus Quest 2 devices. The headsets were one of the most popular Christmas presents in 2021, showing that people seem more willing than ever to try virtual reality. And companies are trying to keep tabs on their content by creating VR versions of their apps and games.

An Oculus Quest 2 virtual reality headset and controller captured on September 28, 2020.

Phil Barker | future | Getty Images

The NBA experience is free and available on Meta’s Horizon Venues platform, which is a free software download for the Oculus headset. People appear as digital avatars, much like cartoon versions of their real selves, watching an NBA game from the perspective of the court. It’s not Jack Nicholson’s seat of the Los Angeles Lakers Crypto.com Arena or Spike Lee’s seat in Madison Square Garden, but it almost replicates reality.

From a business standpoint, the deal could give the NBA new media rights, which is important when regional sports networks struggle.

Meanwhile, Meta — the company formerly known as Facebook — is leveraging its partnership with esports providers like the NBA, WWE, and the Premier League to give people new reasons to try virtual reality.

Mark Zuckerberg’s company is investing $10 billion in the Metaverse, a virtual world he believes will become the standard for social networking, gaming, and even work.

Meta sent CNBC the Oculus 2 headset last month. I witnessed the January 10th game in the NBA between the Celtics and the Pacers. Here’s what you need to know.

Celtics Jaylen Brown drives to the basket in a NBA regular season basketball game at TD Garden in Boston on January 10, 2022 between Pacers Jeremy Lamb (left) and Myles Turner (right).

Jim Davis | Boston Globe | Getty Images

The experience is not “garbage”

First, you should know that if you live in the market where an NBA game is being televised, you are prohibited from watching. The NBA uses RSN feeds from their League Pass product, and local markets are subject to the same pesky restrictions you encounter elsewhere.

Once in game you will immediately notice other avatars participating in live discussions. The closeness of the plot also catches your attention. This is where you immerse yourself in the experience, as it actually feels like you’re sitting in a pitchside seat, right down to the level of engagement with fans nearby.

There are two levels in the digital space where you can follow the game. The first level is usually where the crowd watches the chatter, and that evening I counted about 15 people in the room in the first quarter.

The balcony level is quieter for a more private setting and the view is ok.

Don’t be afraid to start a conversation with an avatar with their mic on, especially if you need help navigating what looks like two levels of a private social club.

When the Celtics were leading 23-18 in the first quarter, an avatar approached me and asked for help watching. I was confused at first as my stream was fine but it became clear that the real person behind the avatar had a bad connection or was restricted due to local lockdown rules.

That prompted him to call the NBA’s Metaverse experience “garbage.” Moments later, I asked another avatar standing next to me what he thought of the experience.

“That’s dope,” replied the avatar named “TUtley.” “You have to get that for football.”

The scenic views of Boston that emerged during game breaks were also quite impressive and made me feel like I was in the city where the game is being played.

The minuses: interference and picture quality

“Yo man! Are you okay?” I heard one avatar ask another.

The avatar in question was slumped and unresponsive. It almost seemed like the Metaverse character was having a fit.

The avatar eventually regained its form and began to speak, but that mistake was certainly odd.

The controllers are your hands in the metaverse, so it can be weird to see avatars nearby with their hands and arms misaligned with their bodies.

In the fourth quarter, Stephenson pinned a 3-pointer and Pacers forward Torrey Craig then converted a layup to reduce the Celtics’ lead to three, 71-68.

Witnessing the tight sequence was fun, but the relatively poor image quality eventually made itself felt. TV and video providers have spoiled viewers with high definition games. Every small difference in quality is quickly noticed.

The NBA is partnering with a VR production company Media Monks to show the games on the Oculus platform.

During the NBA’s pandemic “bubble” season in Orlando, the company used Sony’s FX6 cameras, which cost about $6,000to shoot VR games. This season, however, games will be shot using Sony FX9 cameras, which cost about $11,000.

However, Meta often experiments with the resolution and frame rates of the VR games, which are still technically in “beta” or test mode. Media Monks places five cameras in NBA arenas, but added a sixth for the Celtics-Pacers game to capture a sense of spaciousness.

An FX9 camera is located at the presenter’s table and provides the front row view. FX9 cameras are also located on each back panel. One is used to capture distant shots and another to move around.

The cameras switch angles throughout the game, which can be annoying but necessary when coaches accidentally block the view. For example, Udoka’s leg was in my face every time he went to Center Court.

The featured presenter is former NBA forward Richard Jefferson, but the comments are boring at times. And the trivia questions don’t help.

Meta uses former NBA players like Jefferson to interact with avatars that participate in the court experience. And for some contests, commentators could appear in the room as real avatars to chat with fans.

We’ll see how exciting that actually is when the time comes.

A screenshot of Jabari’s splash screen reminiscent of an NBA virtual reality event on the Oculus Quest 2 platform.

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Finally, the selection of games could be better. Celtics pacers was ok but tent games would be more attractive and could attract more people making it an even more social experience.

The next two NBA VR games on Oculus are coming up January 17th – Allowing Covid postponements – with the Oklahoma Thunder playing Mark Cubans Dallas Mavericks. the 22nd of January VR experience has played the Sacramento Kings against the NBA champion Milwaukee Bucks.

These aren’t necessarily must-see games.

What’s next

I missed the Celtics pacers renewal because my Oculus headset battery died. But given how many people were on the first level at the end of Q4 and more coming out of the venues lobby, it’s fair to say that the NBA VR experience was popular in the metaverse that night.

Three days after attending the game, I spoke to Rob Shaw, Meta’s director of sports leagues and media partnerships, to understand how far the court experience has progressed and where it is going.

Shaw was reminded of comments made to CNBC in 2020 when he said the NBA’s Oculus concept was “still in the early stages.”

Meta’s Oculus Quest 2 virtual reality headset.

T3 Magazine | future | Getty Images

Shaw said the new Oculus Quest 2 and its adoption have made a big difference since then. He noted that the device is lighter, has better optics, and is cheaper than its $399 sister device, making it more popular as a gift.

“Now we’re in the fundamental moments of building and learning the experience,” Shaw said.

I asked if the NBA experience would remain free, and Shaw didn’t rule it out.

“I think the business model can be redefined,” he explained. “It doesn’t necessarily have to be pay-per-view, but an economy that can be built around the viewer experience.”

He added that if the VR experience can really evolve to mimic pitchside, “I see they want to put a price point on a ticket. But that’s a decision that has to be made by the league and the media company.”

Ultimately, it’s up to the NBA to charge consumers. The league did not provide an official for CNBC to discuss it.

While the NBA is silent on the matter, Meta is looking ahead.

Shaw envisions immersive VR displays and allows users to purchase avatar jerseys at a Metaverse NBA store. Then, for an additional fee, private live screening options. There are ideas centered around a sports bar seat experience and VIP options that include watching games with an NBA legend or celebrity.

“I think sponsorship can be redefined,” Shaw said. “Brand activation, historically limited to the venue, suddenly becomes more accessible and customizable for the Metaverse.”

— CNBC’s Steve Kovach contributed to this article.

Can video video games enhance children’ cash expertise?

Every few days my 8 year old son asks Neal if he can “make money” on Roblox, a popular online video game platform.

That’s his way of suggesting that I’ll buy him Robux, the platform’s currency, in return for doing a term paper or an additional academic assignment.

I usually turn these requests down, but his persistence made me wonder if the games taught him some personal finance lessons, such as how to budget a scarce resource – Robux – and whether his practice in this virtual world might help him get into to find your way around the real world. Will he waste less money if he has already practiced stretching his Robux budget?

Some experts say an emphatic “yes”.

Mark Mazzu, a former banker and stockbroker who teaches on the online education platform Outschool, uses Minecraft, another popular video game, to help kids learn about business.

“You see how they act naturally; they get that, ”he says. “Negotiate, act, buy, sell – it’s fantastic.”

But financial literacy experts also say that whether or not children really get money tuition through video games depends largely on how parents talk to them about their online experience.

In his online courses, Mazzu and his students raise the question of how to keep money safe.

“I ask them, ‘What does a bank do?’ and transition into a Minecraft discussion, ”he says. “‘How do you keep your things safe in Minecraft?’ ”

In the game, for example, players use chests that keep valuable items safe – similar to a bank account.

That can lead to a discussion about saving. Mazzu suggests putting it in a relatable way: “When you buy 64 pieces of coal or cobblestone, you don’t want to use everything you find. You want to put it away. Why don’t you put 10% in a chest and use the rest? ”Says Mazze. “It’s a great way to teach kids how to save.”

Laura Vanderkam, author of “Off the Clock” and mother of five children under 15, says her children took cash lessons from the Roblox game Theme Park Tycoon, where players build and run an amusement park.

“There are a lot of actual business allocation decisions that kids wouldn’t make in real life unless they ran a serious lemonade stand,” says Vanderkam.

She says parents can bring these lessons home by asking kids about the games and drawing parallels with the real world.

“People are obsessed with the negatives of screen time, but there are a lot of cool lessons to learn,” says Vanderkam.

Susan Beacham, CEO and founder of Money Savvy Generation, a financial education company, says video games often emphasize shallow purchases, like virtual decorations or dressing up an avatar. Parents can also address the shortcomings of the games, such as currencies that can only be spent, not invested, donated or saved in an interest-bearing account.

“If you want them to learn a lesson, you have to talk to them about it,” she says.

Beacham also suggests that kids make money or use their pocket money to buy virtual currency to play with.

“Children take your money all day,” she says. “You have to create scarcity and give them a choice. If you spend your own money, that’s different. “

Then she suggests asking and asking if the cost was worth the benefit: “Now teach your child about money and value.”

Jeff Haynes, senior editor, web and video games at Common Sense Media, a nonprofit promoting safe technology and media for children and families, says the money class can begin even before the game is played. Children need to consider how much games cost and why they prefer one game to another.

Haynes suggests that parents point out the possible compromises by asking, for example, “Why do you want this for this game over something else? How are you going to save to get it? “

Now when Neal asks me about Robux, I think about how I can make sure he really deserves that currency. I want him to internalize the idea that, like real money, Robux is a scarce resource and not a given. Apart from the fact that he earns the Robux through housework or additional homework, I ask him to explain what he gets from the purchase and why it is worth it.

He is convinced that this strategy will work: “It teaches me not to use too much Robux, and in tycoon games I have learned to save for really expensive things.”

Gamification: can video video games change our cash habits?

  • Gamification is the process of incorporating elements of video games into a business, organization, or system, with the goal of boosting engagement or performance.
  • Gamified personal finance apps aim to help people make better financial decisions, often by redirecting destructive financial behaviors (like playing the lottery) toward positive outcomes.
  • Still, gamification has its risks, and scientists are still working to understand how gamification affects our financial behavior.


– YouTube

www.youtube.com

The human brain is a pretty lazy organ. Although it’s capable of remarkable ingenuity, it’s also responsible for nudging us into bad behavioral patterns, such as being impulsive or avoiding difficult but important decisions. These kinds of short-sighted behaviors can hurt our finances.

However, they don’t hurt the video game industry. In 2020, video games generated more than $179 billion in revenue, making the industry more valuable than sports and movies combined. A 2021 report from Limelight Network found that gamers worldwide spend an average of 8 hours and 27 minutes per week playing video games.

Good at gaming, bad at saving

It’s not necessarily bad that Americans spend millions of dollars and hours on video games. But consider another set of statistics: 25 percent of Americans have no retirement savings at all, while roughly half are either living “on the edge” or “paycheck to paycheck,” according to a recent report on the Financial Resilience of Americans from the FINRA Education Foundation. Meanwhile, experts predict that Social Security funds could dry up by 2035.

So, why don’t people save more? After all, the benefits of compounding interest aren’t exactly a secret: Investing a few hundred bucks every month would make most people millionaires by retirement if they start in their twenties. However, the recent FINRA report found that many Americans have alarmingly low levels of financial literacy, a topic that’s not taught in most public schools.

Even for the financially literate, saving money is psychologically difficult

But what if we could infuse the instant gratification of video games into our long-term financial habits? In other words, what if finance looked less like an Excel spreadsheet and more like your favorite video game?

A growing number of finance applications are making that a reality. By using the same strategies video game designers have been optimizing for decades, gamifying personal finance could be one of the most efficient ways to help people save for the future while reaping instant psychological rewards. But it doesn’t come without risks.

What is gamification?

In simple terms, gamification takes the motivating power of video games and applies it to other areas of life. The global research company Gartner offers a slightly more technical definition of gamification: “the use of game mechanics and experience design to digitally engage and motivate people to achieve their goals.”

The odds are you have encountered gamification already. It’s utilized by many popular apps, websites, and devices. For example, LinkedIn displays progress bars representing how much profile information you have filled out. The Apple Watch has a “Close Your Rings” feature that shows how many steps you need to walk to meet your daily goal.

Brands have used gamification to boost customer engagement for decades. For example, McDonald’s launched its Monopoly game in 1987, which essentially attached lottery tickets to menu items, while M&M’s gained consumer attention with Eye-Spy Pretzel, an online scavenger hunt game that went viral in 2010.

In addition to marketing, gamification is used in social media, fitness, education, crowdfunding, military recruitment, and employee training, just to name a few applications. The Chinese government has even gamified aspects of its Social Credit System, in which citizens perform or refrain from various activities to earn points that represent trustworthiness.

Finance is arguably one of the best-suited fields for gamification. One reason is that financial data can be easily measured and graphed. Perhaps more importantly, financial decisions occur in the background of almost everything we do in modern life, from deciding what we eat for lunch to where we are going to spend our lives.

Gamification doesn’t just make boring stuff fun; it’s also an effective way to change our behavior. Used properly, it can also disrupt our habits.

The nature of habits

It’s tempting to think that we make our way through life by thoughtfully considering the information before us and making sensible choices. That’s not really the case. Research suggests that about 40 percent of our daily activities are performed out of habit, a term the American Journal of Psychology defines as a “more or less fixed way of thinking, willing, or feeling acquired through previous repetition of a mental experience.”

In other words, we spend much of our lives on autopilot. From an evolutionary perspective, it makes sense that we rely on habits: our brains require a lot of energy, especially when we’re faced with tough decisions and complex problems, like financial planning. It’s relatively easy to rely on learned behavioral patterns that provide a quick, reliable solution. However, those patterns don’t always serve our long-term interests.

Saving money is a good example. Imagine you have $500 with which to do whatever you want. You could invest it. Or you could go on a shopping spree. Unfortunately, the brain doesn’t process these two options the same way; in fact, it actually processes the investing option as something like a pain stimulus.

Why gamification works

Saving is painful. But can’t people simply choose to be more financially responsible? In short: Yes, but it takes a lot of effort. After all, when it comes to changing behavior, willpower is only part of the equation.

Some psychologists think willpower is a finite resource, or that it’s like an emotion whose motivational power ebbs and flows based on what’s happening around us. For example, you might establish a monthly budget and stick to it for a couple weeks. But then you get stressed. The next time you’re out shopping, you might find it harder to resist making an impulsive purchase in your stressed-out state.

Pixel Art Lootvlasdv via Adobe Stock

“A growing body of research shows that resisting repeated temptations takes a mental toll,” the American Psychological Association writes. “Some experts liken willpower to a muscle that can get fatigued from overuse.” In the terminology of psychology, this is called ego depletion.

Gamification offers a way to outsource your willpower. That’s because games offer psychological rewards that can motivate us to perform certain actions that might otherwise have seemed too boring, taxing, or emotionally draining. What’s more, gamifying parts of your life is less of a change of mind and more of a change of environment.

A 2017 study published in Computers in Human Behavior noted that “enriching the environment with game design elements, as gamification does by definition, directly modifies that environment, thereby potentially affecting motivational and psychological user experiences.”

The study argued that games are most motivational when they address three key psychological needs: competence, autonomy, and social relatedness. It’s easy to imagine how games can tap into these categories. For competence, games can feature badges and performance graphs. For autonomy, games can offer customizable avatars. And for social relatedness, games can feature compelling storylines and multiplayer gameplay.

Gamification and the brain

Games can motivate us by satisfying our psychological needs and giving us a sense of reward. From a neurological perspective, this occurs through the release of “feel-good” neurotransmitters, namely dopamine and oxytocin.

“Two core things have to happen in the brain to influence your decision-making,” Paul Zak, a neuroscientist and professor of economic sciences at Claremont Graduate University, told Big Think. “The first is you have to attend to that information. That’s driven by the brain’s production of dopamine. The second thing, you’ve got to get my lazy brain to care about the outcomes. And that caring is driven by emotional resonance. And that’s associated with the brain’s production of oxytocin.”

Cheerful Father And Son Competing In Video Games At HomeProstock-studio via Adobe Stock

When released simultaneously, these neurotransmitters can put us into a state that Zak calls “neurologic immersion.” In this state, our everyday habits have less control over our behavior, and we’re better able to take deliberate action. It’s an idea Zak and his colleagues developed over two decades of using brain-imaging technology to study the nature of extraordinary experiences.

As he wrote in an article published by the World Experience Organization, neurologic immersion can occur when experiences, including video games, are unexpected, emotionally charged, narrowing one’s focus to the experience itself, easy to remember, and provoking actions.

“The components of the extraordinary come as a package, not in isolation from each other,” Zak wrote. “It’s the ‘action’ part that is key to finding immersion. Extraordinary experiences cause people to take an action, whether it’s donating to charity, buying a product, posting on social media, or returning to enjoy an experience again.”

Games can invoke these types of immersive experiences.. But how exactly are financial organizations using gamification to help people “level up” their financial futures?

Gamifying personal finance

Banks and financial companies have been using gamification for years. What started with simple concepts, like PNC Bank’s “Punch the Pig” savings feature, has evolved into a diverse field of games that are helping people stick to budgets, save money, and pay off debt.

What’s surprising about the gamification of personal finance is that some of the most successful apps are redirecting destructive financial behaviors, like buying lottery tickets, toward positive outcomes. One example is an app called Long Game, which uses an approach called “lottery savings.”

“People actually really love the lottery,” Lindsay Holden, co-founder and CEO of Long Game, told Big Think. “The lottery today is a $70-billion-dollar industry in the U.S., and the people that are buying lotto tickets are the people that least should be buying lotto tickets. And so how can we redirect that spend into something that’s helping them in their lives?”

Long Game’s answer is to encourage users to make automatic or one-time investments into a prize-linked savings account. As users make investments, they earn coins that can be used to play games, some of which offer cash prizes. But unlike the real lottery, the prize money comes from banks that are partnered with Long Game, meaning users can’t lose their principal investment.

Blast is a savings app aimed at traditional gamers. The platform lets users connect a savings account to their video game accounts. Users then set performance goals in the video games, such as killing a certain number of enemies. Accomplishing these goals triggers a pre-selected investment into the savings accounts. In addition to earning interest, users can also win prize money by accomplishing certain missions or placing high on public leaderboards.

“Gamers tell us they feel better with the time they spend gaming when they know they are micro-saving or micro-earning in the background,” Blast co-founder and CEO Walter Cruttenden said in a statement.

Young gamer playing a video game wearing headphones.sezer66 via Adobe Stock

Fortune City takes a different approach to gamified finance. The app encourages users to track their spending habits, which are represented by visually appealing graphs. As users log expenses, they’re able to build buildings in their own virtual city. The expense categories match the types of buildings users can construct; for example, buying food lets users construct a restaurant. It’s like “SimCity” meets certified public accountant.

The risks of gamification

Gamifying your finances might help you save money, but it doesn’t come without risks. After all, receiving extrinsic rewards when we perform a behavior can affect our intrinsic motivation to repeat that behavior both positively and negatively. It’s a phenomenon called the overjustification effect.

In addition, gamified finance apps can also be addictive and encourage risky financial behavior. Robinhood, for example, uses visually appealing performance metrics and lottery-like game elements to incentivize the trading of stocks and cryptocurrencies. But while investing in these assets might be a good financial decision for some people, Robinhood arguably encourages its users to be “players” in the difficult world of trading, not necessarily rational investors.

What’s more, gamification doesn’t seem to work for everyone.

“From social psychology and behavioural economics, we know that the most likely [result of] gamification [is that you] will motivate some people, will demotivate other people, and for a third group there’ll be no effect at all,” noted a 2017 study on gamification and mobile banking published in Internet Research.

But given that 14.1 million Americans are unbanked, and millions more struggle with financial literacy, it’s reasonable to think that gamified finance apps could help many people work toward financial independence.

“One of the most interesting things we’ve found is that people want help when it comes to making difficult decisions,” Zak told Big Think. “In my view, any app that helps you be a more effective saver is probably a good app. But I think we have to do a lot more work to really understand the underlying neuroscience of gamification. And so we need to continue to design games that teach you more about how to ‘level up in life,’ not just level up in the game.”

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Paralympic Video games may allow a extra inclusive post-pandemic restoration

The Tokyo Paralympics this summer offer companies an opportunity to attract a severely underrepresented segment of the workforce and support the global coronavirus recovery, experts said.

The decades of games, which showcase the athletic talents of leading disabled athletes, have helped break taboos around often “shunned or excluded” members of society, Mike Peters, CEO of the International Paralympic Committee, told CNBC.

This, in turn, has helped spark important conversations about how businesses and society at large can better understand and involve the 1.3 billion people around the world with a lived experience of disability.

“Aside from the fact that this is an incredible moment for athletes, it is a great moment for all athletes – Paralympic athletes or Olympic athletes – to question the perception of inclusivity,” said Caroline Casey, a disability activist and Founder of The Valuable 500 CNBCs “Capital tie-up” On Wednesday.

Why in the world would a company in its right mind put 15-20% of the world’s population behind, which equates to $ 13 trillion in purchasing power.

Caroline Casey

Founder, The Valuable 500

That became particularly important after the coronavirus pandemic, which exposed the “gross injustice and injustice” of people with disabilities, said Casey, whose organization supports CEOs in initiating and implementing commitments to diversity and inclusion.

However, the crisis has also revealed a “ray of hope”, she said, noting that many of the barriers that previously prevented employers from accepting workers with disabilities have now been broken.

Athletes position themselves on the start line during a para-athletics test event for the Tokyo 2020 Paralympic Games in Tokyo, Japan, on Aug.

Bloomberg | Getty Images

“We have seen that the business system can flexibly adapt and change – while it was not said before – to accommodate people with disabilities who work remotely or from home, or in the different ways we’ve seen so easy to adjust last 15 months, “said Casey.” That’s very important.

This opens up a great opportunity to involve not only workers but also consumers with disabilities, she said. In fact, after the London 2012 Paralympics, employment of workers with disabilities increased, she said.

“As we need to recover from this pandemic, why in the world would a sane company leave 15 to 20% of the world’s population worth 15 to 20%, which is $ 13 trillion in purchasing power,” she said.

The comments come as the delayed Tokyo Olympics and Paralympics continue to be ravaged by the pandemic and challenges, and sparking criticism from Japanese citizens and international observers.

However, Peters said that the organizing committee’s actions, along with the Japanese government and the Tokyo metropolitan government, have made the Games “one of the safest places in the world”.

Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics owns the U.S. broadcast rights to all Summer and Winter Games through 2032.

Factbox: Cash, cash, cash: the price of Tokyo’s pandemic-delayed Video games

The Tokyo 2020 Olympic Games logo, postponed to 2021 due to the coronavirus disease (COVID-19) outbreak, can be seen through a traffic sign in the Tokyo Metropolitan Government Office building in Tokyo, Japan, Jan. 22, 2021. REUTERS / Issei Kato / File Photo / File Photo

TOKYO, June 23 (Reuters) – Despite local opposition amid the coronavirus pandemic, the Tokyo Olympics, which were postponed last year, will begin in exactly one month – with the exception of “Armageddon,” a member of the International Olympic Committee said.

But the delay so far has been costly in many ways. Here are some areas where costs have increased and expected revenues will not materialize.

OLYMPIC COST

Organizers said last December that the total cost of running the Games would be about $ 15.4 billion, including $ 2.8 billion for the unprecedented postponement from 2020. Since then, the forecast bill has been up for the shift increased to $ 3 billion.

Ticket revenue is likely to be reduced by more than half its previously expected 90 billion yen ($ 815 million), Tokyo 2020 CEO Toshiro Muto said at a briefing on 21.10. Overseas viewers are prohibited.

The organizers initially sold around 4.48 million tickets and the government had expected a tourist stroke of luck. Around 840,000 tickets have now been refunded, but the caps mean a further decrease to 2.72 million tickets.

SPONSORS

More than 60 Japanese companies combined paid a record more than $ 3 billion to sponsor the Games. Sponsors paid another $ 200 million to renew contracts after the Olympics were postponed.

That doesn’t include partnerships with Japanese companies Toyota, Bridgestone, and Panasonic, as well as others like South Korea’s Samsung, which have separate deals worth hundreds of millions of dollars with the International Olympic Committee (IOC) through a separate high-level sponsorship program.

INSURANCE

Although the cancellation scenario is getting less likely every day, if this happens, global insurers would face a heavy bill, with estimates putting a loss of $ 2-3 billion.

The IOC hedges around $ 800 million for each summer game, which covers the majority of the roughly $ 1 billion investment in each host city.

Local organizers in Tokyo will have another policy that is valued at around $ 650 million.

Analysts at the financial services firm Jefferies estimate the 2020 Olympics insured costs, including TV rights and sponsorship, at $ 2 billion, plus $ 600 million for hospitality.

MEDIA

NBCUniversal had a record $ 1.25 billion in national US ad spend on the Games before they were postponed in 2020, and has spent the past year attracting sponsors to bring them back this year support, reported the entertainment business magazine Variety.

The parent company of NBCUniversal Comcast (CMCSA.O) agreed to pay $ 4.38 billion for U.S. media rights to four Olympics from 2014 to 2020, she added.

Discovery Communications, the parent company of the television broadcaster Eurosport, has agreed to pay 1.3 billion euros (1.4 billion US dollars) to broadcast the Olympic Games across Europe from 2018 to 2024.

BLOW FOR THE ECONOMY

The Olympics were originally intended to be a major tourist attraction, but the ban on foreign spectators thwarted hopes for an early recovery in incoming tourism, which has been frozen since last year.

In 2019, Japan hosted 31.9 million foreign visitors spending nearly 4.81 trillion yen ($ 44 billion). The number fell 87% in 2020 to just 4.1 million, a 22-year low.

Although very unlikely at this point, a complete cancellation would mean a loss of 1.8 trillion yen, or 0.33% of GDP, the Nomura Research Institute said in a recently released report.

However, Nomura Research Institute’s senior economist Takahide Kiuchi said the loss would pale compared to the economic impact of the emergency caps if the games turned into a super-spread event.

“If the (Olympic Games) triggered the spread of infections and required another declaration of emergency, then the economic loss would be much greater,” said Kiuchi.

($ 1 = 110.4000 yen)

Reporting by Elaine Lies; Editing of Lincoln Fest.

Our standards: The Thomson Reuters Trust Principles.

Australia’s fashionable pentathlete Ed Fernon: ‘I used to be coaching Rocky-style’ | Tokyo Olympic Video games 2020

R.Retirement is not a word that means much to Olympian Ed Fernon. When the modern pentathlete first hung up his riding boots, sword and pistol after failing to qualify for the 2016 Games, he climbed the highest mountain in the southern hemisphere (Argentina’s Aconcagua at 6,960 m) and won the longest horse race in the world , the Mongolian derby. It is perhaps not surprising that it didn’t cost much to lure him out of retirement to take another leap into the Olympic discipline of the modern Pentathlon.

“Out of the blue, three months before the Tokyo exams, I got a call from my old coach asking me to make a comeback,” said Fernon. “I was on my way to a business meeting and didn’t think about it much. But he kept calling me. Finally, I decided to train hard for six weeks to compete in the New Zealand championships and see what would happen. I won this competition and was selected for the Tokyo exams on the Australian team. I went there, started well, and got the seat. It’s been quite a whirlwind journey. “

Whirlwind is certainly an apt description for Fernon. New South Welshman, only 33, runs a real estate development company and has two young children. Since qualifying for Tokyo, Fernon has balanced his professional and personal commitments with an intense training schedule. “It’s a constant challenge,” he says. “I’m just trying to work two or three hours a day to keep the ship buoyant. I’m fortunate to have good people around me who can help.”

Fernon was one of the first Australians to be selected for the Tokyo Olympics after attending a selection event in Wuhan in November 2019. He left the Chinese city just a month before the first cases of Covid-19. “Because I had just been there, I started very early,” he says.

While other athletes had disrupted their preparations for Tokyo due to the pandemic, Fernon was able to concentrate on training last year. “I was already selected by this point, so I didn’t have to do anything to keep my place,” he says. Fernon lived on a farm near Yass in rural NSW and had the perfect training environment. “I trained rocky style,” he says. “I built a jumping arena on the farm, set up a small fence system in the garage, shot from the porch and ran down the street. It was great to have the support of the local swimming pool that I was swimming in as well. I was incredibly lucky. “

Although there is still uncertainty about the games, with increasing vocal disapproval among the Japanese populationFernon is confident that he will fly to Tokyo in eight weeks. “Some people ask me [about cancellation] and I just discard it right away, ”he says. “The media has teamed up whether it happens or not, but if you have conversations with the people who actually know what is going on, it is absolutely certain that it will continue. And as an athlete, you can’t think like that, even if there’s a 1% chance it won’t go on. You just have to concentrate fully on the job. “

Ed Fernon with his son Xavier. Photo: Hanna Lassen / Getty Images

The word pentathlon comes from the Greek, a combination of five (penta) and competition (athlete). The original Pentathlon was a hallmark of the ancient Greek Olympic Games; A combination of wrestling, sprint, javelin, discus and long jump, the event was seen as a test of the athletic qualities soldiers need. The modern equivalent has been featured in all Olympic Games since 1912.

As the format of the sport has evolved over the decades, it has retained its multidisciplinary quality. In Tokyo, Fernon and his colleagues will compete in a fencing round robin with an épée sword, followed by a 200 meter freestyle swim. The participants are then paired with a random horse and have to complete a jumping course after only 20 minutes of tying. Finally, the athletes take part in a “laser run” – three rounds of a kilometer-long course, each with a round of pistol shooting at the beginning. This last event has a timed start based on the points scored in the previous events. This means that the first person to cross the line is the overall winner.

The variety makes the training an interesting offer. “It’s a very difficult sport,” says Fernon. “I think the most interesting thing is that you have athletes from different backgrounds. Some are very strong swimmers, while others are athletics-oriented. That means that everyone has different strengths and weaknesses. Right now I do two to three workouts a day, focusing on the fencing and the running and shooting event – which is probably one of the most important as it is the final event and can be make-or-or. Interruption. “

Athletic as a kid, Fernon played cricket and rugby and ran cross-country in high school. He also rode with a friend who owned a farm near Wagga Wagga. “I loved riding down there on school holidays,” he says. But it wasn’t until his college years that Fernon came across the sport of the modern pentathlon.

“I was 19 years old, studied at university, lived on campus most nights, drank and carried on like a young person,” he remembers, somewhat embarrassed. “I felt like my life didn’t have a lot of meaning – and I was just looking for a challenge. My uncle suggested I try modern pentathlon – I didn’t even know what it was. “Fernon met Daniel Esposito, who represented Australia in sport at the 1984 Olympics and whose father he is Chloe Esposito, who won gold in 2016.

Ed Fernon rides Chatte Van T Welthof at the London Games 2012. Photo: Alex Livesey / Getty Images

“I remember meeting him and he said, ‘It’s too hard to try a sport, you have to make a 100% commitment to go to the Olympics,” Fernon says. “At this point I’ve never had a pistol, never a fencing sword, and was a terrible swimmer – so it was pretty daunting to hear. But it was the best advice. I made a very clear decision that I should use my spare time while studying Qualification for the Olympic Games in London. “

He qualified and finished 27th at the 2012 Games. “It was a great honor to represent my country,” says Fernon. But after spending his savings traveling the world to compete (“I came back a very poor man,” he says) and consequently starting a business, his commitment to the sport began to wane.

“The training is so full – I was just tired,” he says. “I went to the Rio exams, did not perform well, and just got to a point where my mind and body were no longer there. I had lost my passion for it. After not qualifying for Rio, I gave up and didn’t think I would ever come back. “Not that he wasn’t looking for a challenge – he climbed Mount Aconcagua and won the Mongolian derby in the years that followed.

“You have to make life interesting,” he says. “You have to challenge yourself, find yourself in an uncomfortable environment, because that’s the only way you can really learn and grow as a person. All of these things are ways for me to learn about myself and to push myself. I fail a lot, but failure is part of the process. “

Australia's Chloe EspositoChloe Esposito memorably won modern pentathlon gold for Australia five years ago in Rio. Photo: Yasuyoshi Chiba / AFP / Getty Images

Part of the challenge of the modern Australian Pentathlon is the lack of funding. A big boost was given during exercise, though Esposito won gold at the Rio OlympicsFernon says this has not sparked continued interest and support.

“Chloe is an amazing person – she won an Olympic gold medal – but a few years later she can’t get sponsors, the support isn’t there for her,” says Fernon. “I think people are a little more aware of the modern Pentathlon [post-2016], but we don’t have the right structure – there is no funding, unlike overseas where all athletes are full-time professionals. You still have to do everything yourself. “

However, Fernon remains optimistic that this could change. “There was undoubtedly a lot of interest [since Esposito’s win] and there are some great young kids out there who are incredibly interested, ”he says. “If we are successful with the Brisbane Olympics offering in 2032, there may be more funding for the Olympic sport and we can grow.”

Fernon wants to retire after Tokyo. “My wife is due with our third child about a week after I return, so my priority is back with the family,” he says. “I’ll hang up the boots, the sword, the gun, and look forward to becoming a father and running the business again.”

However, it is unlikely that this will be the last time we’ll hear from Ed Fernon. “There will be something, there will always be something,” he says. “There’s nothing on the horizon yet, but my motto is to surpass the adventure of life. I am always interested in how I can put myself into unpleasant situations and new challenges. This won’t be the last thing I’ve ever done, I can tell you. “

International Browser Video games Market Report 2021: Main Gamers Embrace King Digital Leisure, NCSOFT, GungHo On-line, Zynga, Tencent, Microsoft, Activision Blizzard Inc., Sega, Sony and Peak Video games

The “Browser Games Global Market Report 2021: COVID-19 Impact and Recovery by 2030” Report was added ResearchAndMarkets.com Offer.

Major players in the browser games market are King Digital Entertainment, NCSOFT, GungHo Online, Zynga, Tencent, Microsoft, Activision Blizzard Inc., Sega, Sony Corporation and Peak Games.

The global browser games market is projected to grow from $ 23.81 billion in 2020 to $ 24.99 billion in 2021, with an average annual growth rate (CAGR) of 5%.

The market is projected to reach $ 34.47 billion in 2025 with an annual growth rate of 8%.

The rapid increase in the number of active players around the world is driving the browser game market. According to the League of Betting, the number of online gamblers is projected to reach 1 billion by 2024, up from 877 million in 2020. According to the online gaming report as of 2019, gamers play an average of seven hours and seven minutes a week, but younger gamers spend a lot more time playing games, while 26- to 35-year-olds play 8 hours 12 minutes a week.

Germany and the United States were linked with the highest number of players playing for more than 20 hours at 11.6% per week. Hence, the rapid increase in the number of active players around the world is expected to drive the browser game market.

Player frustration from slow downloads is the main limiting factor in the browser game market. The time it takes to download games has been reported as the world’s biggest problem. 33.8 percent said this is the main problem.

Seasoned gamers are most concerned about download speed. Over 41% of ambitious professionals and experts indicate that experienced gamers are more likely to play more complex games that require larger downloads. The download performance affects their games more from experience.

According to the 2019 Online Gaming Report, frustration with download speed is highest in the US, where 39.4% of gamers register sluggish downloads as a primary concern. Hence, the frustration of gamers from slow downloads is expected to hamper the growth of the browser game market.

The story goes on

The browser games market covered in this report is divided into cellphone games, pay-to-play games, free-to-play games, pay-in-play games by type, and by end-users in smartphone and tablet, PC, TV, etc. divided.

Companies in the browser gaming market are focusing on technologies like Augmented Reality (AR) and Virtual Reality (VR) to improve the gaming experience and offer better products. Industry experts expect VR / AR games to get a big boost in 2019 and headset prices to become more affordable for an even more immersive gaming experience. Many popular games are likely to incorporate VR and IR.

Stormland, which was released in 2019, is an open world shooter. It has some great features like reloading and updating that use VR technology in very creative ways. It also includes a play area that has been procedurally created to ensure that each playthrough is different.

Pokemon GO is probably the most popular augmented reality game and is expected to release some new updates in 2019 to ensure it stays strong for a while. Niantic Labs, developer of the Pokemon Go game, has already raised $ 225 million in the company’s funding round and is now focused on developing more AR-based games.

In September 2020, Microsoft Corporation, a US-based technology company, acquired ZeniMax Media for $ 7.5 billion in cash. With this acquisition, Microsoft will grow from 15 to 23 creative studio teams and add Bethesda’s franchise to Xbox Game Pass. ZeniMax Media, an American video game holding company based in Rockville, Maryland.

Main topics covered:

1. Summary

2. Market characteristics of browser games

3. Market trends and strategies for browser games

4. Effects of COVID-19 on browser games

5. Browser Games Market Size and Growth

5.1. Historic Global Browser Games Market, 2015-2020, Billion US Dollars

5.1.1. Driver of the market

5.1.2. Restrictions in the market

5.2. Global Browser Games Market Forecast, 2020-2025F, 2030F, Billion US Dollars

5.2.1. Driver of the market

5.2.2. Restrictions in the market

6. Market segmentation for browser games

6.1. Global Browser Games Market, Segmentation By Type, Historical And Forecast, 2015-2020, 2020-2025F, 2030F, Billion US Dollars

  • Mobile games

  • Pay-to-play games

  • Free games

  • Pay-in-play games

6.2. Global Browser Games Market, Segmentation By End User, Historical And Forecast, 2015-2020, 2020-2025F, 2030F, Billion US Dollars

  • Smartphone and tablet

  • Pc

  • TV

  • Other

6.3. Global Browser Games Market, Segmentation By Operating System, Historical And Forecast, 2015-2020, 2020-2025F, 2030F, Billion US Dollars

7. Browser games Market regional and country analysis

7.1. Global Browser Games Market Split by Regions, Historical and Forecast, 2015-2020, 2020-2025F, 2030F, Billion US Dollars

7.2. Global Browser Games Market Split by Country, Historical and Forecast, 2015-2020, 2020-2025F, 2030F, Billion US Dollars

Mentioned companies

For more information on this report, see https://www.researchandmarkets.com/r/269tvt

View source version on businesswire.com: https://www.businesswire.com/news/home/20210514005288/de/

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Sports activities and video games tools to train in type

Tempo Ultegra road bike from Materia £ 5,525

A handcrafted racing bike with a solid walnut frame that will also stand out when hung on the wall for storage. conranshop.co.uk

The Olympic collection by Ulysse Martel & Candice Joyce Blanc 9,600 francs (£ 7,516)

These shimmering steel dumbbells are part of a set from this Swiss design duo. novgallery.com

Rotator adjustable skipping rope from Hock Design £ 145

A 3 m long rope that brings elegance to the gym with its handles made of American walnut wood and aluminum. luxdeco.com

Yeti yoga mat from Pendleton £ 75

This design is handcrafted in Portland, Oregon that will add color to your practice. pendletonwoolenmills.eu

French Gothic Revival pool table £ 95,265

This ornate design from 1830 is handcrafted from rosewood with inlaid details and forms a striking focal point. 1stdibs.co.uk

Table tennis paddles from Tiffany & Co. £ 660

This statement set is handcrafted from Tiffany Blue® leather and American walnut. tiffany.com

Sprintbok from NOHrD from £ 5,395

Available in a variety of hardwood options, this curved manual treadmill is a design statement for the home. waterrower.co.uk

Cheltenham Croquet by Jaques London £ 999.99

The Cheltenham set is designed for six players with English ash sticks. jaqueslondon.co.uk

Meditation cushion from Walden $ 245

A supportive seat that comes in multiple colors and is filled with hypoallergenic buckwheat. walden.us

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Riot Video games Hires Former MRC CFO DJ Jacobs As Leisure Head Of Technique, Enterprise Operations – Deadline

EXCLUSIVE: Riot games, the developer and publisher of League of Legends, knocked earlier MRC CFO DJ Jacobs as Head of Strategy and Business Operations for Entertainment.

“Riot’s commitment to delivering fun and memorable experiences to its players and fans has always impressed me,” said DJ Jacobs. “I’m very excited to be joining this team to bring our characters and stories to players in exciting new ways.”

Jacobs, who will lead group, content and product-level strategies for Riot’s new entertainment division, has more than 15 years of experience in the media and entertainment industry overseeing investments and acquisitions, new business initiatives, film and TV underwriting, strategic planning and financing.

Hot Off Sundance Success, Questlove to Helm Sly Stone Doc; Together for EP

For Riot, he will work with key product leaders to lead commercialization, research and insights, and partnerships between film, television, music, consumer products, live experiences, animation and third-party game release.

“DJ’s extensive experience in both the creative and operational side of the media and entertainment business makes him an ideal leader to help us grow this new division,” said Shauna Spenley, global president of entertainment, Riot Games. “His track record of building teams and securing strategic partnerships will prove essential as we expand our popular intellectual property to include players around the world in new, innovative ways.”

Before joining Riot Games, Jacobs spent nine years at MRC, where he was CFO and Chief Strategy Office. He led efforts to raise debt and equity that raised over $ 2 billion, served on Greenlight’s film and television committees, and developed key strategic partnerships with agents, artists and distributors. He began his career at The William Morris Agency and in the production of ABC’s Grey’s Anatomy before moving to Credit Suisse’s wealth management division. He has an engineering degree from Harvard University.

Epic Video games Is Dropping An Absurd Quantity Of Cash On Unique Video games

Epic Games seems to understand that given its leadership position and massive current user base, Steam is only suitable for gaming if you have games that you cannot play on Steam – at least for a period of time. Exclusivity deals with third party companies cost money, and it looks like Epic Games is losing a ton of money to make that exclusivity possible. Epic Games CEO Tim Sweeney doesn’t seem to be concerned about this, however. In fact, he seems pretty proud of it.

As discovered by PC playerDespite paying approximately $ 444 million for “minimum warranties” on third-party games for the Epic Games Store in 2020, sales of all third-party games for the year were approximately $ 265 million. Apple said that Epic Games lost around $ 181 million on the Epic Games Store in 2019, bringing the total losses to over $ 300 million so far if those numbers are correct. Big games like Metro Exodus and Control were first released on EGS before later making their way to Steam. At that time, the respective game companies were criticized for this decision, especially at Metro. It has since become a fairly common practice.

Metro Exodus – Official Launch Trailer

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Apple used these numbers in a statement as part of its lawsuit against Epic Games, stating that the service is unprofitable and lacks security features that are included in Apple’s App Store. It has been suggested that most of Epic Games’ Fourteen days Revenue is also generated on platforms other than iOS, which would apparently mitigate the effect that the game is no longer available there.

Epic Games CEO Tim Sweeney doesn’t seem the least bit concerned about the loss of revenue. He confirmed Apple’s estimates on Twitter, noting that it was an investment in the business and “a fantastic achievement in reaching gamers with great games.”

These loss numbers are still relatively small overall compared to Epic Games. The company was valued at more than $ 17 billion last August after securing additional funds. And although Fortnite has not been available on iOS for months, it can continue to be successful on other platforms.

The trial of Epic Games against Apple begins on May 3rd. The result could determine not only whether Fortnite can return to Apple devices, but also whether Apple can retain the monopoly on digital purchases on its platform.