The video game developer has opened up on how he sees the future of the industry, which he insisted is "in a time of both crisis and opportunity".

Speaking at the State of Unreal event, he said: "One view of the future is that Roblox grows and eats gaming. A lot of people are saying this online.

"What you have there is a centralised platform that has a single 'gatekeeper' that commoditises everything and takes more than 70 percent of revenue generated by 450 million users.

"So that's a real challenge to game developers."

Tim also discussed the way gaming itself has changed, as they have started to become more socially driven.

He explained: "In the old days, it was: you decide to play a game, you download it, you may play it by yourself or maybe play multiplayer with strangers.

"Nowadays, it's much more about you getting together with your friends and then deciding what to do together online, to play a game or experience."

Meanwhile, there is an "extraordinarily competitive" landscape of various mediums battling for people's attention.

Tim added: "We were competing with lame television and other things.

"Nowadays, there's all kinds of social media platforms as well as things like prediction markets that trend almost into vice - all competing for people's times, all very effectively."

Tim insisted that despite seeing a "huge" number of blockbuster games "failing" to capture a big enough audience, there are still some positives.

He said: "On the upside, there's a new generation of gamers coming in with new tastes in games, and they're playing at a higher rate than any previous generation.

"The biggest games, like Fortnite, are once again growing and thriving.

"But underneath this, there's a serious challenge to triple-A developers, and that's that a huge number of the new releases of major games are failing now."