Why are board games sacred?
Why are board games sacred?
As you might have guessed by the wordplay in the title on the popular Netflix series ‘Sacred Games’, in this edition we would be discussing the fascinating world of board games.
One might be tempted to think that with ubiquity of smartphones, table-top board games have become a relic of the past as all the famous board games have multiple digital versions of them available either free or paid on the internet.
Board games are a segment of the larger games & toys market. The Indian toys industry is estimated to be $1.5 Bn making .5% of the global market share. There is a significant opportunity as domestic demand is forecasted to grow at 10-15% against the global average of 5%.
The board games can further be segmented into mainstream and hobby games. Mainstream would include our all time favorites such as scrabble and monopoly. The high-ticket hobby games segment has a dedicated customer base of its own. In advanced economies such as the US, board game enthusiasts on average may spend over $500 and purchase around 10 hobby games in a year. The most popular hobby games include – Settlers of Catan, Warhammer, and Dungeons & Dragons.
It is important to realize that board games are an integral part of the larger Content-Intellectual property ecosystem. The well crafted board game can have multiple spin-offs, merchandise, movies, TV shows and media opportunities. Further, the board games have a natural extension, to bring their imagined world to a close real life experience, through AR-VR technologies.
The board games sit at a unique cross section of creative-storytelling and entertainment. In my view a successful board game would be such which understands and caters to human behavioral psychology. We all have competitiveness inherent in us. Secondly, we as humans seek rewards or gratification in the real world. These rewards are a product of our intellect and sustained efforts to achieve them. Moreover they are dependent on the role of chance or luck in our lives.
A successful board game would balance ‘personal effort’ and ‘randomness’ in a compelling story-based narrative. At Ecosystem Ventures, we are working closely with one such company which has an eclectic mix of content IP, impressive game design skills, and integrated media capabilities.
Please feel free to message me if you are tempted to roll the dice on reading about board games.
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