Gaming Eminence spoke with Krzysztof Opałka, CTO of Tequity Ventures, the conversation sheds light on the multifaceted technological hurdles startups encounter in the iGaming industry. Opałka emphasises the fragmented market, regulatory demands, and the necessity for distinctive, innovative products as primary challenges. Tequity Ventures positions itself as a crucial ally for startups, offering a robust technical foundation to streamline their market entry and innovation processes. Opałka's journey from Yggdrasil Gaming to Tequity highlights a dedication to efficiency and automation, underscoring the importance of adapting to and leading through technological evolutions. The interview also explores the potential of emerging technologies like blockchain, AI, and VR/AR, advocating for their thoughtful application in addressing industry-specific challenges.
GE) What, in your opinion, are the most pressing technological challenges that startups entering the iGaming industry face today? How can technology-focused executives and entrepreneurs navigate these challenges effectively?
KO) iGaming market is very fragmented with many potential routes to market. There are many requirements you need to fulfil before you go live - integrations, reporting, scalability and reliability. On top of that startups need to be able to navigate ever changing regulations. That all creates high entry barier for young companies, especially while trying to tick all these boxes you really want to focus on your unique Intellectual Property because only innovative, high quality products can stand out from the crowd these days. This is exactly the problem we are trying to solve at Tequity - we provide stable and proven technical platform which would form the foundation for your business. As a friend of mine says: “Your investors don’t get excited about your Back Office. They only get excited about it when it doesn’t work”. Our platform de-risks and fast tracks your start-up journey.
GE) Could you provide a real-world example of how Tequity Ventures has assisted a client, whether a startup or established company, in harnessing technology to gain a competitive advantage in the iGaming market? What insights and best practices can industry executives and startup leaders glean from such success stories?
KO) Majority of our clients are slot studios (AvatarUX and Peter&Sons to name a few) who used to rely on content aggregators to distribute their content. That of course creates a risk of being dependent and reliable on someone else which also limits how much you can grow. With our RGS we can facilitate seamless migration of entire portfolio of games without having to port them individually which typically has been preventing people from changing RGS. We saw providers who were able to port all their content un less then two weeks.
Additionally, thanks to large network of existing integrations and Infrastructure and Code solution allowing to create new production instance in half an hour, you can immediately go live enjoying the freedom and independence of direct integrations.
GE) Previously you held several key positions at Yggdrasil Gaming, from Front-End Architect to Chief Information Officer. Can you walk us through your journey of transitioning through these roles, and what were the pivotal moments that led you to take on different responsibilities within the organisation?
KO) I joined Yggdrasil in 2014 having strong experience from mobile games and social casino, but not real money per se. It was very different market when the industry was switching to mobile but the tech was not mature. We managed to create the most sophisticated HTML5 framework and industry-first in-game promotional tools which drove the company’s success for several years. That was the moment when I transitioned to C-level positions to help managing the team during exponential growth. I had to switch code editor with PowerPoint and Excel which I enjoyed for several years however then I decided to get my hands dirty again driving Tequity. A lot of lessons and experiences I can now apply to new business including one of the most important take away which is focus on efficiency and automation which in the current competitive market is the key for success.
GE) Technology trends in the gambling industry are constantly evolving. Could you elaborate on the role of emerging technologies like artificial intelligence, blockchain, or augmented reality in shaping the future of iGaming, and how Tequity Ventures is staying ahead in harnessing these trends?
KO) Personally I am not a person who brainlessly chases buzzwords. Blockchain, AI, VR/AR are all very interesting technologies but most importantly we need to figure out how and when to apply them to solve real problems. Blockchain found an obvious usage opposing over-regulation, generative AI can definitely help with personalisation and automatisation of casino management. We are currently exploring how to apply it to game prototyping. VR/AR seems has not reached the masses yet however Apple entering the market can change that situation very soon. We definitely keep an eye on all these trends however we want to stay mindful about pros and cons of each.
About our contributor
A seasoned professional with 15 years in IT and 10 in iGaming, Former CTO, CPO and CIO at Yggdrasil where he created industry-firsts products such as iSENSE, BOOST and GATI. Currently running solution provider Tequity and helping various businesses as tech advisor. Visit https://tequity.ventures/