Gaming | Page 2

Presently, the market size was INR 16,428 crore in FY23 and is expected to reach INR 33,243 crore in FY28. Being a rapidly evolving landscape, several trends and events shaped the booming sector in 2023.

From mere 183 million in 2017 to 421 million online gamers in 2022, the Indian gaming industry has come a long way in the last five years.This massive growth has also led to a new breed of professional gamers and influencers in the country, especially in the esports segment.

According to the report, India's gaming market is projected to grow at a CAGR of 20 per cent to reach USD 7.5 Billion in the next five years

Be it a PC gamer or a mobile gamer, 5G's arrival is sure to revolutionize the way one engages with digital games

While gamers are all about the game and what it offers, Web3 has the potential to decentralize the space and give everyone an equal opportunity to try their hand out.

The 28% GST on online gaming is a tax rate that will apply to the entire amount collected from the players who participate in online gaming activities, such as rummy, poker, fantasy sports, esports, etc.

With this investment, Krafton aims to nurture local talents, foster innovation, and propel India into the forefront of the global gaming industry

The funds will be used to expand the team, invest toward growth and marketing, and for R&D efforts

In March, the company filed and got the DRHP approval and in May, it got the nod from NSE. Notably, the IPO will make it the first company in the combined spaces of blockchain, AI and gaming to get publicly enlisted.

The metaverse provides a new economic moat in the gaming arena and hence, looks lucrative to VCs. With lesser phone asset space being utilized, gamers can meet new users in the metaverse and create a parallel existence.

Lumikai Fund II counts Mixi, Colopl, Krafton, Smilegate, Supercell, Nazara, Jeejeebhoys, KCT Group, DSP Kothari, Sattva Group, Ben Feder, Jon Vlassopulos, Pankaj Gupta, and Akshat Rathee as its investors.

Calling it a one-of-its-kind of investment by the adtech company, it made sense for Globale Media to invest in an up-and-coming gaming startup in the country

People across the globle wants to get a piece of Web3. But considering the fact that Web3 and Metaverse are new segments, we have five expert opinions you should read before diving deep into the game

Rario had filed a suit against MPL and Striker, whereby it was alleged that MPL and Striker are minting and distributing NFTs that capture images of players with whom Rario has entered into exclusive license agreements

The gaming industry has grown phenomenally in India. With the pandemic boosting the gaming market, it grew to a $2.8 billion industry in 2022 and is expected to reach $5 billion by 2025. However, Web 3.0 gaming is still to grow in India. Transition to Web 3.0 ought to be gradual as considerable work needs to be done.

This development will bring Scopely's capabilities, infrastructure and technology under Savvy's wings. Furthermore, Scopely will benefit from a financial perspective to help it grow, expand target audience, and work with industry leaders and players.

Under the new rules, real money games involving wagering or betting have been prohibited. Permissible online games are referred to as those games which do not involve wagering, use harmful content, and do not create any addictive consequences for young users.

According to the report, average time spent per week was highest in mid-core games (3.4 hours/week), followed by hardcore and real money games (RMG) (3.3 hours/week).

The recently announced Finance Bill announced the TDS on online gaming would be effective from 1 April onwards instead of previously announced 1 July

Blockchain gamers are offered a unique proposition where they can sell off their gaming assets or tokens in exchange for fiat currency, something which is not allowed in traditional games.

A silent revolution is taking place within the industry, with the mushrooming of women gamers, with a study finding out that 56 per cent of women gamers consider gaming as a career option, with every two in five women gamers participating in online gaming competitions.