Esports Bringing People Up Close and Personal With Virtual Reality Tech
*By Michael Teich*
Virtual reality will be revolutionary for esports, but the technology wont reach its full potential in gaming for awhile, said the VP and general manager of Intel's gaming division Frank Soqui.
“It’s very difficult to get VR into the hands of everyone to go use,” Soqui said Thursday in an interview on Cheddar.
Intel ($INTC) is bullish on the market for esports and has been an early supporter of professional gaming.
The company is the official technology partner of the NBA 2K League and has signed on for a multi-year sponsorship of the Overwatch League.
While Soqui thinks VR will continue to spread in the budding esports industry, he said exposing the tech to people first-hand will help them understand the full experience.
That's why Intel is depending on entertainment hubs like Dave & Buster's ($PLAY) to allow users to experience VR gaming.
“We’re looking for these location-based entertainment or destinations where people can go try out something," Soqui said.
“There’s a big audience draw for VR,” he added. “I think you’re going to see a new set of gamers get invited into this marketplace.”
Esports will have an estimated audience of 600 million by 2020, according to a [report by Deloitte](https://www2.deloitte.com/insights/us/en/industry/telecommunications/capitalizing-on-growth-of-esports-industry.html). The firm predicted that by that same year, the global esports market will generate $1.5 billion in annual revenue, largely driven by sponsorship and advertising.
For full interview [click here](https://cheddar.com/videos/intel-bullish-on-vr-in-esports).
A British tobacco company has agreed to pay more than $629 million to settle allegations that it did illegal business with North Korea in violation of U.S. sanctions, the Justice Department said Tuesday.
First Republic Bank's stock plunged Tuesday after it said depositors withdrew more than $100 billion during last month’s crisis, with fears swirling that it could be the third bank to fail after the collapse of Silicon Valley Bank and Signature Bank.
Strong U.S. sales helped General Motors increase its first-quarter net profit 19% over a year ago, leading the company to raise its full-year earnings guidance on expectations that people will keep buying new vehicles.
British regulators have blocked Microsoft’s $69 billion deal to buy video game maker Activision Blizzard over worries that it would stifle competition in the cloud gaming market.
Mortgage delinquencies rose to nearly 4% in the fourth quarter last year, according to the Mortgage Bankers Association. Howard Dvorkin, certified financial planner and chairman of Debt.com, joined Cheddar News to provide tips on what to do if you can't make mortgage payments.
Dory Wiley, president and CEO of Commerce Street Holdings, joined Cheddar News to discuss Tuesday's trading as big tech is set to report earnings. This also followed First Republic Bank posting its latest results that prompted its stock to plummet after it said deposits fell.