NEW YORK and KUALA LUMPUR, Malaysia, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) (“TGL,” “Treasure Global” or the “Company”), an innovative technology solutions provider, today announced the launch of 10 exciting mini-games in ZCITY 3D World, allowing TGL to tap into the projected US $212.4 billion global gaming industry. The integration is powered by TGL’s Artificial Intelligence (“AI”) Game Creator.
Powering the Future: ZCITY's AI Game Creator in the projected US$212.4 Billion Global Gaming Market
Newzoo, a leader in video games and gamer data, estimates that the global games market will generate revenue of US$212.4 billion in 2026. With the global games market projected to generate revenues of US$187.7 billion in 2023, reflecting a +2.6% year-on-year growth rate, ZCITY's AI Game Creator is positioned to be a pioneering force by providing access to this expansive market.1
Mobile Games Forecast: Dominating Player Preferences
As the mobile gaming market maintains its lead within the gaming industry, contributing a substantial US$92.6 billion to the overall revenue, ZCITY's mobile-friendly mini-games are strategically positioned to capture a significant share of this dynamic market. Mobile gaming dominates player preferences, capturing 84.4% of the audience.1
Online Gaming Market Dynamics: 9.8% Growth in 2023
In 2023, the global online gaming market generated approximately US$26.14 billion in revenues, growing 9.8% compared to the previous year. While down from its unprecedented 2020 growth rate that benefited from the global COVID-19 outbreak, online gaming remains a popular and resilient activity, with an estimated 1.1 billion online gamers worldwide with China, South Korea, and Japan having the largest online gaming reach.2
Unlocking Gaming Revenue Potential: AI-Enhanced Gaming Experience
TGL has incorporated an AI-powered game creator within ZCITY 3D World, allowing users to customize and play the 10 newly integrated mini-games. This strategic move not only enhances the gaming experience for users, but also positions ZCITY to access the rapidly growing global gaming market.
Monetization Opportunities and Future Growth
The introduction of 10 AI-powered mini-games into ZCITY 3D World, coupled with the ability for users to customize their gaming experience, aligns with Treasure Global's commitment to diversifying revenue streams. Through in-game purchases, virtual goods, and AI-driven marketing strategies, ZCITY 3D World is poised to become a dynamic digital marketplace.
Sam Teo, Chief Executive Officer of Treasure Global, commented, "The integration of an AI game creator into ZCITY 3D World aligns with the robust growth trajectory of the global gaming market. This move not only positions ZCITY as a leader in AI-enhanced entertainment but also capitalizes on the significant revenue potential within this burgeoning industry."
About Treasure Global Inc
Treasure Global is a Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed two technology solutions: the ZCITY App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards; and TAZTE, a digital F&B management system providing merchants with a one-stop management and automated solution to digitalize their businesses. Treasure Global also acts as a master franchiser in Southeast Asia for popular restaurant chains, while providing them with the TAZTE solution. As of November 28, 2023, ZCITY had over 2,670,000 registered users.
For more information, please visit https://treasureglobal.co/
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023 and subsequent filings filed with the Securities Exchange Commission (“SEC”). Copies of these documents are available on the SEC’s website, www.sec.gov. These forward-looking statements cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
For further information, please contact:
U.S. Investor Contact
Erika Kay
KCSA Strategic Communications
ir_us@treasuregroup.co
Malaysian Investor Contacts
ir_my@treasuregroup.co
Media Contact
Sue Chuah, Chief Marketing Officer
Treasure Global Inc
mediacontact@treasuregroup.co
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1 https://gam3s.gg/news/newzoo-global-games-market-report-2023/.
2 https://www.statista.com/topics/1551/online-gaming/#topicOverview.
