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A group of American parents is seeking to sue several video game companies, alleging their children have been harmed by video game addiction.
As reported by Bloomberg, one mother claims that her 14-year-old son has played such a quantity of video games over the last nine years that it has caused him brain damage, seizures, and a stroke. Another mother says that her nine-year-old who has been diagnosed with multiple psychiatric disorders has been gaming “at an increasing and uncontrollable pace”.
Targets of the lawsuits, of which over a dozen are expected to be heard on May 30 in Salt Lake City, Utah, include Microsoft, Nintendo of America, Epic Games, Roblox, and Sony Interactive Entertainment.
A key part of the lawsuit is research that shows Internet Gaming Disorder (the medical term for video game addiction) has a measurable effect on the brain in the way that other addictions do. However, the filing suggests that psychiatric problems such as ADHD are also caused by gaming – this is a contentious issue and research finds that the correlation is more likely in the other direction. That is to say, people with ADHD could be more likely to develop Internet Gaming Disorder, and not that Internet Gaming Disorder causes ADHD. The debate over the addictiveness of games is ongoing and hotly debated.
What do the video game companies say?
Microsoft, Nintendo, Sony, and Epic are part of the Entertainment Software Association, which gave the following statement: “We prioritize creating positive experiences for the entire player community and provide easy-to-use tools for players, parents, and caregivers to manage numerous aspects of gameplay. Claims that say otherwise are not rooted in fact and ignore the reality that billions of people globally, of all ages and backgrounds, play video games in a healthy, balanced way.”
Games companies are hoping to defend against the allegations on First Amendment grounds. Microsoft and Roblox argued that calling their games “too engaging” goes against the fact that game content, like all content, is protected as free speech.
The two companies, who used the defense to seek the dismissal of a different suit brought against them in Arkansas, say that the lawsuits miss the point. They “present the digital equivalent of suing a video library for distributing allegedly ‘addictive’ movies, or a recording studio for providing a forum and equipment to create music that is ‘too catchy,’” according to Microsoft and Roblox.
If they are found to have any merit, these lawsuits could pose trouble for the gaming industry, which has already had a troubled year, beset by layoffs and closures.
Featured image credit: generated by Ideogram
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Over 59 million people have purchased the PlayStation 5 consoles since it was released which is higher than the population of countries like Canada, Spain, and South Korea.
On Tuesday (May 14) Sony released its earnings report as it wraps up its fiscal year 2023. In Q4 of 2023, PlayStation 5 sales amounted to 4.5 million units.
This brings the lifetime purchase number of PlayStation 5 consoles sold to 59.2 million units, with the fiscal year 2023 being the best performing in terms of sales for the console.

In 2020, 7.8 million units were sold of the console.
A year later, 11.5 million units were bought.
In 2022, 19.1 million purchased the PlayStation 5.
20.8 million were sold in 2023.

As the console reaches the middle of its life cycle, all eyes are on Sony’s next move as a Pro version is rumored to launch within the upcoming holiday season.
What we know about the PlayStation 5 Pro
Fans haven’t wasted any time in trading rumors about a possible PlayStation 5 Pro with suggestions it could be in the hands of gamers this year.
According to claims, the console could be released for the holiday season at the end of the year.
As this version is the Pro, there are expectations this will be a whole lot more powerful than the PS5 Slim version which was a much lighter and smaller console.
A document obtained by the YouTube channel Moore’s Law is Dead unveiled (in a video Sony had removed) several crucial specifications for the highly anticipated new console.
It indicates that the Pro model will feature significant enhancement in graphical performance, boasting rendering speeds up to 45% higher than the current PlayStation 5. The prediction has since been backed up by several other gaming media outlets.
Another industry rumor suggests the PS5 Pro will have a mode that targets 3.85GHz CPU frequency. If this is true, this will be a huge upgrade to the Slim which has an eight-core custom AMD Zen 2 at 3.5GHz and AMD RDNA 2 at 2.23 GHz.
There hasn’t been any formal announcement or reveal from the people at Sony as yet.
Featured Image: Ideogram
The post Sony has now sold more PS5 consoles than there are people in Canada appeared first on ReadWrite.

The meme sector is once again producing gains for investors, with Solana meme coin Slothana (SLOTH) and PEPE among the hottest stories this week.
According to data from Dextools, the PEPE token hit a new all-time high today, nearly reaching $0.00001 after pumping over 20% in the last 24 hours. Meanwhile, the newly launched Slothana meme coin has seen a 600% price surge in just seven days since its presale.
Solana Meme Coin Slothana Nets Trader 250% Gains
One crypto trader managed to capitalize on Slothana’s rapid ascent, selling 1,500 SOL worth of SLOTH tokens for a 250% profit after buying during the presale. Transaction records show the trader initially purchased 424.5 SOL of SLOTH before consolidating their holdings and eventually offloading the tokens.
Slothana is currently trading around $0.05 with a market cap exceeding $100 million. The project has implemented an aggressive marketing campaign across crypto media outlets, influencers, and data platforms like CoinMarketCap. This exposure is likely fueling SLOTH’s popularity.
Additionally, Slothana has a token burn mechanism that could impact price dynamics. The team has already burned $1 million SLOTH at $0.04 and plans to burn another million tokens once the price hits $0.05. Token burns can theoretically increase scarcity and value for remaining circulating supply (currently 2 billion tokens).

It’s LAMBO TIME for the $SLOTH community! Let’s take a look back at the past 7 days as $SLOTH presale buyers make 300% gains.
100m $SLOTH Tokens Burnt, totaling 5% of supply and $3m Liquidity locked with Streamflow Finance Organic listings on multiple… pic.twitter.com/1PyFCzzSSW
— Slothana (@SlothanaCoin) May 13, 2024

Notably, the popular 99bitcoins YouTube channel with over 700,000 subscribers posted a bullish video on Slothana yesterday, touting it as a potential 100x Solana meme coin. The video also highlighted the importance of Slothana’s price-based token burns.

PEPE Price Prediction as Trading Volume Rivals Bitcoin and Ethereum
While Slothana is the new meme coin on the block, the established PEPE token is also making headlines across crypto media today by hitting a new all-time high price near $0.00001 today. The catalyst appears to be PEPE’s immense trading volume, which is currently the third highest across all crypto assets excluding stables.
According to Plazma, a crypto analyst with 15,000 followers, PEPE’s 24-hour trading volume of $2.4 billion is surpassed only by Bitcoin and Ethereum. A high trading volume can indicate significant interest and liquidity for an asset.

$PEPE is top 3 by volume(excluding stables) with 2.4B traded over 24 hours. Behind only $BTC and $ETH. pic.twitter.com/Vj2g4IgD0F
— Plazma (@Plazma0x) May 14, 2024

However, on PEPE’s chart, we can see that the relative strength index (RSI), a technical indicator tracking price momentum, is currently around 80. An RSI over 70 is considered overbought territory, suggesting PEPE may be due for a price correction or pullback in the near term.
The GameStop (GME) Meme Coin Craze Hits Solana
The Solana-based meme coin $GME aims to recreate the historic GameStop (GME) short squeeze of 2021, surging over 200% in just 24 hours. However, this meme coin lacks intrinsic value and is considered a highly speculative and risky investment.
In 2021, the original GameStop stock became a meme phenomenon, driven by collective retail investor action and social media influence that challenged traditional market dynamics. Despite its meteoric rise, GameStop’s stock has since declined significantly as the company faces challenges in transitioning its business model.

JUST IN: GameStop $GME and AMC closed up 74% and 78% today.
GameStop’s stock was halted 9 times. pic.twitter.com/vFEHHv8ABx
— Watcher.Guru (@WatcherGuru) May 13, 2024

Recent spikes in GameStop’s trading volume suggest a potential shift towards more fundamental-driven investment, aligning more with its core video game retail value rather than speculative meme stock behavior.
Conclusion
As the Solana meme coin frenzy continues with projects like Slothana hitting new milestones, crypto traders and enthusiasts will be watching these assets closely. Meanwhile, PEPE is an Ethereum-based meme coin, also hitting new highs.
It remains to be seen of course whether meme coin mania will continue in the upcoming weeks, but what we see so far looks promising.

Related

14 Best Meme Coins to Buy in 2024

The post Crypto Trader Makes 250% Profit With This Solana Meme Coin, PEPE Price Hits New ATH appeared first on ReadWrite.