From Pong and Pacman to the console shootouts

From Pong and Pacman to the console shootouts
The releases of the Xbox X on November 10, 2020 and PlayStation 5 on November 12, 2020 ahead of Christmas are prime examples of how far the billion dollar video game industry has come since the first rudimentary arcade machines emerged in the 1970s, with each generation of gamer since then enjoying rapid technological advancement. (AFP / Tengku Bahar)
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Updated 06 November 2020

From Pong and Pacman to the console shootouts

From Pong and Pacman to the console shootouts
  • The success of “Pong” laid the groundwork for an explosion of arcade games in the late 1970s and early 1980s

HONG KONG: Video games have come a long way since the first rudimentary arcade machines emerged in the 1970s with offerings such as “Pong,” “Pacman” and “Space Invaders.”

Each generation since then has enjoyed rapid technological advancement, and the industry is now worth billions.

With the release of Microsoft’s Xbox X and Sony’s PlayStation 5 just days away, here follows a look at the journey of video games.

Now widely regarded as the first video game to achieve serious commercial success, Atari’s 1972 “Pong” allowed two people to play a basic game of table tennis on a black screen.

The graphics were simple, but it was a hit — a version of the game designed to play at home sold more than 100,000 units and set the stage for the multibillion-dollar gaming industry we know today.

The success of “Pong” laid the groundwork for an explosion of arcade games in the late 1970s and early 1980s, with the frenetic “Pacman” and alien shoot-em-up “Space Invaders” raking in billions from coin-rich youngsters desperate to post a high score.

But it was the advent of home consoles such as the Atari 2600 and the Nintendo NES around the same time that took video games from arcades into living rooms.

Games popularised in this period still resonate today. One early Nintendo game — the 1981 platformer “Donkey Kong” — featured a character known as Jumpman, later known as Mario, one of the best-known video game heroes of all time.

As the market for games grew, so too did competition between hardware manufacturers, leading to the first of many “console wars” in the early 1990s between Sega and Nintendo.

Sega emerged victorious — in part due to the popularity of its “Sonic the Hedgehog” franchise — but its Genesis console never quite enjoyed the longevity of some of its competitors.

The 1990s also brought massive innovation for video games — both in visual presentation and plot.

First-person-shooters such as “Goldeneye” and action-adventure puzzler “Tomb Raider” revolutionized both graphics and storytelling, offering a more mature experience for an increasingly diverse audience.

By the turn of the century, the stage was set for a new generation of home systems — and an all-new round of console wars, this time between the PlayStation 2, Nintendo GameCube, and a new contender from Microsoft, the Xbox.

The PlayStation 2 won that fight, becoming the best-selling console of all time with 155 million units moved, according to Forbes.

The following decade saw games go online, allowing players to go from one-on-one matches in their living rooms to battles with scores of other players all over the world.

From chaotic first-person shooter “Call of Duty” to the massive multiplayer role-playing game “World of Warcraft,” online gaming became a billion-dollar industry in its own right — and laid the groundwork for the massive growth of electronic sports.


Saudi fintech startup secures $1.2m seed funding

Saudi fintech startup secures $1.2m seed funding
Updated 30 min 39 sec ago

Saudi fintech startup secures $1.2m seed funding

Saudi fintech startup secures $1.2m seed funding
  • The Kingdom has proved to be a fruitful market for investment in startups

RIYADH: A Saudi financial technology company has raised $1.2 million in seed funding.

Hakbah’s success comes six months after the Riyadh-based startup received regulatory approval from the Saudi Central Bank (SAMA) to operate in the Kingdom.

The specific investors behind the financing have not been revealed.

Founded in late 2018 by Naif AbuSaida, Hakbah specializes in alternative saving and savings groups.

On its LinkedIn profile, the firm describes its mission “is to digitize financial habits by developing innovative savings products that help increase financial inclusion, support a non-cash society, and bridge the gender gap in savings.”

Hakbah graduated from the DIFC Fintech Accelerator Program 2019 in Dubai.

The Kingdom has proved to be a fruitful market for investment in startups. Saudi Arabia recorded a 35 percent year-on-year increase in the number of investment deals in the technology startup sector last year, according to a new industry report.

A study by data research platform Magnitt found that the Kingdom accounted for 18 percent of the 496 investment deals throughout the Middle East and North Africa (MENA) region last year.

Saudi Arabia, the UAE, and Egypt were the largest markets, accounting for 68 percent of total deals. However, while the Kingdom saw the number of investment deals increase by more than one-third, the UAE and Egypt witnessed volume decreases of 17 percent and 10 percent, respectively.

When it came to the monetary value of the deals, Saudi Arabia recorded a surge of 55 percent year-on-year to $152 million.

Nabeel Koshak, CEO at Saudi Venture Capital Co., said: “Saudi Arabia is witnessing an increase in the quality and quantity in the deal flow of startups. I am thrilled by the distinguished entrepreneurs who are creating fast growth and scalable startups.

“Despite the slowdown of (the coronavirus disease) COVID-19, Saudi Arabia saw a record increase in venture capital funding (55 percent) in 2020 compared with 2019.”

In its predictions for this year, Magnitt forecast that Saudi Arabia would overtake Egypt by total number of investments and capital deployed and become second only to the UAE in the rankings.