Snapchat is entering another billion dollar industry with its tail tucked.
Snapchat's ownership group is uncoincidentally named after its primary investment. The controlling entity better known to daytraders as Snap Inc. is ready to cut its losses of 2018, by making a strong push in another domain: that of multi-player gaming platforms. After countless boardroom jaunts, it seems as though Snap Inc. is hedging its bets on the gaming community in one last push for survival.
"Last year, mobile gaming was a $77 billion industry," Will Wu, Snapchat's Director of Product, wrote in a press release. "It's hard to get everybody to install the same game, then find friends to play with, and it's hard to chat. There's way too much friction."
What Wu is essentially saying is that Multi-Player gaming, for all its plaudits, still lacks an intuitive chat platform to coincide with the overlapping gaming experience. They've spent the money on market research, so the only thing left is for Snap Inc. to keep adding titles to their existing library.
Snap Inc. will enter the market having struck licensing agreements with several top-notch game developers such as Game Closure, PikPok, Spry Fox, Zeptolab, and Zynga. There's a hope, their first original title "Bitmoji Party" will help them burst out the gate with a running start. Are you intrigued?