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India's booming gaming industry has prompted Krafton to re-imagine its popular game, Road to Valor: Empires, for the Indian market. The game now features India-specific customizations, language support in various Indian languages, and a low entry barrier of Rs. 29. In a bid to establish a strong foothold in India, Krafton plans to aggressively market its offerings in the country, leveraging these market-specific customizations to cater to the unique demands of the Indian gaming community.

“India is an important market for us and we are dedicated to creating and delivering games that resonate with Indian players,” says Sean Hyunil Sohn, CEO, KRAFTON, Inc. India.

According to Sohn, the Indian gaming market is on a fast-track and they want to help unlock the potential of Indian gamers and developers while understanding the nuances of the Indian ecosystem.

“We have therefore embarked on several local partnerships,” he says. The company targets to deliver tailor-made gaming experiences to the Indian audience. Interestingly the new game has already clocked 2.5 lakhs pre-registrations.

KRAFTON has invested over $100 million in various Indian start-ups with the latest one being influencer marketing platform One Impression. Others include game streaming platform Loco, Esports firm NODWIN Gaming, Indian language storytelling platform Pratilipi, audio dating app FRND, mobile game development studios Nautilus Mobile and LILA Games and audio content platform Kuku FM.

India on global gaming map

India is on the expansion itinerary of every global gaming brand. 

India's online gaming market, with over 400 million players, is the world's second-largest after China. The Indian gaming market, valued at $2.6 billion in FY2022, will reach $8.6 billion by 2027 with a 27% CAGR, says Lumikai reports. 

Cheap smartphones and fast internet have made India a lucrative gaming market for global giants. Electronic Arts, Tencent, and Ubisoft are also heavily investing in India, with plans for expansion. In 2020, Tencent led a $100 million investment round in Dream11, while Electronic Arts invested in a Hyderabad-based game development studio, FireMonkeys. Ubisoft, on the other hand, announced its plans to expand its Indian operations with the establishment of a new game development studio in Mumbai.

Coming back to, Krafton. For Road to Valor: Empires, the company has announced plans to launch two campaigns. The first campaign will feature a series of videos that combine dry humor and pop culture, while the second campaign, "Garrison ki Kaksha," will educate users on mastering the game's strategies. 

Additionally, Krafton plans to hide Easter eggs in their Play Store and App Store descriptions, offering rewards for those who solve them. With a focus on engaging India's talented strategy game fan base, Krafton's campaigns promise to offer a more immersive and interactive experience for its Indian users. 

As India's gaming industry rises to stratospheric heights, global and homegrown players are getting more aggressive in their strategies to unlock the next level of growth for companies.

Why is Krafton taking aim at the Indian gaming market with Road to Valor: Empires?

The gaming industry has exploded in India with over 507 million gamers, leading to a surge in popularity for live streaming platforms such as YouTube, Twitch, Loco and Rooter, which offer various entertainment options for fans of all ages and interests. It’s no surprise then that major media companies, including Netflix and Disney, are heavily investing in gaming content, recognizing its potential as a significant force in all things entertainment, engagement and reach building. This trend has given rise to the popularity of bite-sized content, with reels and shorts becoming new favorites among gaming influencers and brands alike.

Brands such as H&M, Asus, Pepsi, HP India, and OnePlus are realizing the potential of bite size gaming content. They are partnering with creators to tap into this market. Interestingly non-endemic categories (categories not directly related to gaming), including lifestyle, home appliances and telecom, are also recognizing the value of collaborating with gaming influencers, and are approaching agencies to explore these partnerships.

“Bite sized content is easy to digest and a powerful way to deliver impact in a small time. Brands often want bite-sized content in their deliverables mix, because of its sheer reach and simplicity,” says Animesh Agarwal, founder and CEO at esports consulting and talent agency 8Bit Creatives.

In recent years, many gamers have turned to content creation as a way to share their gaming experiences and connect with their audience. With the rise of platforms like Twitch, YouTube, and TikTok, gamers are creating a variety of content, from live streaming gameplay to making short clips showcasing their skills, humor, and personality.

Many gamers have found success by leveraging the short-form video format, creating engaging content that can be quickly consumed by their followers. These short clips often feature highlights from their gameplay, funny moments, and reactions to in-game events. Some gamers have even turned their content creation into a lucrative career, earning money through sponsorships, advertising revenue, and merchandise sales. As the gaming industry continues to grow, we can expect to see more gamers exploring the world of content creation and finding new ways to connect with their audience.

Brands such as T-series, Boat, Amazon Prime, Disney+ Hotstar, Cello, Flipkart Video, KFC, Bingo and Swiggy have been working with 8bit creators for bite-sized content and the space is significantly growing, says Agarwal.

The key to creating viral videos in the format, he adds, is similar to any other genre of content. It needs to be “witty, engaging and entertaining”.

Overall, India's short-form video (SFV) market is predicted to grow exponentially to 500-600 million users by 2025 and may even surpass OTT/streaming video users. This can be attributed to affordable smartphones and cheap data plans, making SFV more accessible. The trend presents a massive opportunity for content creators and brands to reach their target audiences across sectors, including gaming and esports.

<blockquote>Not everyone has the time to spend 30-40 minutes on the platform, and Reels are also used for various purposes, such as calling out for live streams, sharing highlights, showcasing streamers' lifestyles, and combining music and gaming content</blockquote>

"As the gaming industry continues to grow in India, it's important to note that one in three gamers consume gaming content, with around 125-150 million people accessing content across various platforms," says Piyush Kumar, Founder & CEO, Rooter.

Reeling them in

Kumar’s platform Rooter has a section dedicated to bite-sized content, and it’s called Reels.

Explaining the popularity of the offering, Kumar says, “For new users, short-form video content is an effective onboarding tool, and Reels has seen a significant increase in consumption with users watching an average of 18 reels per day. In fact, around 25% of the time spent on the Rooter app is on Reels.”

“Reels are a great way to engage the next 75-100 million users with bite-sized content that can go viral,” adds Kumar.

"Not everyone has the time to spend 30-40 minutes on the platform, and Reels are also used for various purposes, such as calling out for live streams, sharing highlights, showcasing streamers' lifestyles, and combining music and gaming content,” says Kumar.

Of the 1.2 million people creating content on Rooter, 50,000 creators are making Reels.

According to Kumar, brands are specifically looking at Reels inventory for advertising. Thanks to the high CTR (clickthrough rate) of this bite size content. 

<blockquote> India's short-form video (SFV) market is predicted to grow exponentially to 500-600 million users by 2025 and may even surpass OTT/streaming video users.</blockquote>

Payel Dutta, a Reels creator, says she finds 25-50 second Reels to be the perfect way to engage with gaming enthusiasts of all ages. “These short, snappy videos allow me to pack an extra dose of entertainment into each clip. I often use trending Reels music and themes to keep things fresh and engaging. I have worked with multiple brands in the past, and I find that reels are a great way to showcase their products in a fun and engaging way,” she says.
Dutta has worked with brands such as Howzat, Intel, Infinix Mobile, Zupee and many more

Aspirational brands want in, too

Talking of brand interest in the space, it is surprising to see aspirational brands such as Gucci, Mercedes, etc. invest in gaming, considering that a majority of the gaming target audience is still years away from being able to consider purchasing from these brands. However, be it aspirational brands, or fast-moving brands such as KFC, Too Yum, etc, every brand category is seeing merit in this space, says Rohit Agarwal, founder and director at Alpha Zegus, a marketing agency specialising in gaming and lifestyle.

“We have also seen several non-endemic brands such as Tata, Hyundai, Kingfisher, etc. test waters in this space and drive successful results, either in the form of views/engagement or demand generation. Endemic brands are increasing their spends in the space every year and more endemic brands are being created each year due to the size and opportunity in this market. All in all, it's a great place to be for a forward-thinking brand,” says Agarwal.

What are brands thinking?

Brands such as Mountain Dew, which have been actively connecting with the gaming community for several years now, believe gaming sometimes is a natural fit for their target audience.

“As a youth centric brand, we try to connect with the youngsters through their interests and passions, and gaming is a key way to do so. By leveraging the passion that gamers have for their hobby, Mountain Dew is able to create a strong emotional connection with its target audience,” says Vineet Sharma, Category Director, Mountain Dew, PepsiCo India.

Clearly, bite-sized gaming content is gaining in popularity, and with two of the top five most subscribed YouTube channels dedicated to gaming content, it’s clear that the gaming industry will only grow. As short-form videos become more prevalent, the gaming industry is prepping to ride the wave and connect with an even larger audience.

Bite-sized gaming content goes big in India: Brands take notice of growing trend

The gaming and esports industry in India has made strides in decreasing the gender gap ratio and welcoming more women into the space. Despite the progress, there remains a significant underrepresentation of women in leadership roles, which needs to be addressed to ensure true inclusivity and diversity. In an interview with Storyboard18, Richa Singh, founder and CEO of FanClash, discusses this issue and shares her personal experiences of facing gender bias while approaching investors. She also discusses the need for industry-wide changes, such as government regulations and initiatives to support and encourage women in pursuing careers in gaming and esports.

Edited excerpts. 

Despite improvements in the men-women ratio in the gaming space, what factors contribute to the underrepresentation of women in leadership positions within the gaming industry?

The fact that the esports industry is dominated by men, makes it difficult for women to build courage to step into an industry where systems are already placed with set rules defined by men.

Women are also discouraged much to pursue career paths in this newly built industry as it still struggles to own a status as a mainstream career option. Lack of women representation, proper support and stereotype mindset tend to discourage them.

<blockquote>My data-driven insights, logical arguments, and other strategies that demonstrate my ability as an entrepreneur helped me overcome the biases.</blockquote>

Although the difference in the ratio of men and women is diminishing, it is important to actively combat the existing gender disparities and unconscious biases that can impede the progress of women in the industry. Women holding managerial positions are a source of great inspiration for others wanting to make their name in this male-dominated sector and also helps the company to reach out to a wide array of markets and larger demographics.

Thankfully the gaming sector is inclusive in nature and encourages women ownership and women will remain committed to overcome this barrier and take leadership roles. I am certain the progress of this move is steady and a bold new number of women leaders in this space in near future is surely coming our way.

Tell us about your journey so far? What motivated you to start FanClash? Did you face any gender bias in your entrepreneurial journey?

The journey so far has been exciting, it all started when I got involved in the gaming community as a player and later my passion for gaming grew and I realized how diverse the gaming landscape is which is rapidly expanding. Twitch and YouTube were becoming the key platforms making it possible for gamers to generate revenue. It is not just a hobby anymore, growing trends in esports and its inclusion in major events such as the Asian Games and Olympics, both of which have further fueled the popularity of esports in the mainstream. But somewhere we realized there was a gap in the market for organized data in the gaming industry. It was still struggling to formulate a defined structure which could help it to attain significant growth, and this led my co-founder Rishabh and me to identify a white space in the market for building digital products in the gaming industry, specifically in the realm of data and fan engagement.

I have faced stereotypes and biases related to gender on multiple occasions. They assumed that as a woman I would be incapable of understanding the business intricacies, would tend to be less competent, and might lose the determination necessary to run a business as a leader. I had to put extra effort while approaching investors and ensure they understand my competency and the value of my business idea. With my data-driven insights, logical arguments, and other strategies that demonstrate my ability as an entrepreneur helped me overcome the biases.

<blockquote>The change is a work in progress, we will see many more women taking up leadership roles shattering the traditional belief that esports and gaming can be led by men only.</blockquote>

Help us understand the audience profiles on FanClash. What is the male-female ratio, what are their preferences and where are they from?

FanClash has 3M+ users with 25+ daily tournaments featured on the platform. Being a host to offer fantasy content in some of the leading tournaments around the globe including CSGO, League of Legends, and Valorant to name a few, the platform has garnered immense popularity amongst gamers from all around the world which includes a fair share of women gamers.

While the numbers with respect to gamers are mostly male-dominated, there has been a steady growth in female participation. This is evident from the current male-female ratio of our app. We are excited to see these numbers continue to increase as more women take up gaming and use our app for their gaming needs. FanClash is a welcoming and encouraging inclusive environment for all female players and fans alike. The platform’s fantasy system is designed to allow female players to leverage their talent and compete against other male and female players from pan India.
 
How can the gaming/esports industry encourage and inspire more women to pursue leadership roles?

We definitely need to increase the visibility of women in senior positions in gaming and esports companies. Proper guidance and encouragement is much needed for them to participate in speaking engagements, panels, and other public forums. Providing networking opportunities with industry bests to connect, inspire and build relationships. Host mentorship programs which are also a great way to support the women who wish to establish their name in the industry. And most importantly we need to offer an environment that is supportive of female leaders and invests in their growth and development.

<blockquote>A blueprint for growth and revenue generation for the Indian esports industry has been outlined following the government’s official recognition of esports.</blockquote>

At FanClash, we are committed to offer and encourage the future generation of women to success and most of the senior positions are led by women. The progressing Indian gaming industry is witnessing more women taking up senior roles with the mindset to establish their hold in the gaming industry. The change is a work in progress, we will see many more women taking up leadership roles shattering the traditional belief that esports and gaming can be led by men only.

Coming to the industry, everybody is celebrating the government announcements of acknowledging gaming and esports as sports and the upcoming regulations. Help us understand the direct impact of these developments on the industry.

The acknowledgement of gaming and esports as a sport is a big step in the development of this industry as it will provide necessary infrastructural support which would ensure the industry thrives in the coming years. This has validated the strengths of the sector leading to encouraging more investments from both public and private sectors. This would also be instrumental in implementing the necessary protections and regulations for gamers to ensure there is no foul play and a regulated gaming environment is built. It will also accelerate the industry’s potential to organize more tournaments and create more job opportunities for the coming generations. A blueprint for growth and revenue generation for the Indian esports industry has been outlined following the government’s official recognition of esports.

What are the biggest trends to look out for in the gaming and esports ecosystem in 2023?

After the government’s announcement of acknowledging gaming and esports as sports a phenomenal rise in professional esports athletes, teams and tournaments in our country is witnessed. Digital platforms are popping up hosting gaming tournaments and leagues these days which is helping to create a vibrant and competitive gaming community inspiring more casual gamers to take it up as a profession like gamers, content creators and streamers from tier-2 and tier-3 regions making the industry more diverse and local. With some popular titles making a comeback, 2023 looks stronger with a high rise in the total addressable market of esports. Which in turn shall give rise to even more exciting and engaging experiences for gamers in our country. Increased popularity comes in direct relation to more companies investing in the gaming industry in India, which could further accelerate its growth. It is ever evolving and technological advancements and the inclusive nature of the gaming industry makes it a huge market to explore.

Need to increase visibility of women in senior positions in gaming and esports cos: Richa Singh, FanClash

Over the last fortnight some of Bollywood's biggest stars, including Salman Khan, Ajay Devgn, and Jacqueline Fernandez, have all jumped on board as brand ambassadors for various gaming companies. Adding to the buzz, two new gaming companies have been launched in the past two days alone. The gaming industry in India is thriving and this perfect storm has caught the attention of many new-age entrepreneurs and start-up founders who are leveraging this opportunity to tap into the rapidly expanding market.

In 2017, the number of gaming companies in India was approximately 30. However, this number had increased to 275 by 2019. Then in 2020, the pandemic struck, resulting in a surge in demand for digital entertainment and consequent growth of the gaming industry. As per Lumikai’s recent report, India's gaming market stood at $2.6 billion in 2022 and is expected to grow at a CAGR of 27 percent to touch $8.6 billion by 2027. As a result, by 2021, the number of gaming businesses in India had surpassed 500, and by 2022, it had exceeded 900. The number will continue to rise this year said experts.

Is there space for more?

Justin Shriram Keeling, founding general partner at gaming and interactive media fund Lumikai explains the demand-supply dynamics.

“This year over 507 million gamers in India downloaded over 15 billion gaming apps — user demand is unprecedented. Monetization is also growing quickly, with Indian gaming the Average Revenue Per Paying User (ARPPUs) is up 25 percent this year, and over two million paying gamers are coming online every month. That’s a lot if white space to build in and we’re seeing plenty of founders waking up to that,” he says.

India’s gaming market has seen sustained tail winds for several years now, and this has accelerated over the last two years.

“Founders have taken notice. India is also home to some of the world’s biggest gaming companies who have set up local operations in the country. That provides a strong talent pool of future founders and teams,” Keeling says.

Mixed bag talent pool

Talking of the talent pool, Manish Agarwal, the former CEO of Nazara Technologies, has joined forces with angel investor Ishank Gupta to establish Kratos Studios, a Web3 gaming startup that has secured Rs 160 crore at a valuation of Rs 1200 crore in financing. The seed round was led by Accel, with participation from investors including Prosus Ventures, Courtside Ventures, Nexus Venture Partners, Nazara and others.

However, the gaming industry in India is not just dominated by IT professionals with experience in gaming. It is a mixed bag, with entrepreneurs from different backgrounds venturing into the space. Indian cricketer Deepak Chahar is an example. Chahar recently turned entrepreneur with the announcement of his fantasy platform TFG just this week.

Chahar is banking on his fan base to build reach and engagement for his platform and chose the pre-IPL months for a timely launch. 

“With my 5 million fanbase, it seemed like a perfect way to reach out to them and leverage them by extending ourselves in the cricket gaming arena through this fantasy game. This is the right time for the launch as we will get a chance to cover the cricket season that awaits us ahead and we are all geared up to take our plunge into this ocean of fantasy sports and the gaming ecosystem,” he says.

Using his knowledge and experience in the sport, Chahar is targeting to have a product that sets itself apart from the existing platforms in the space.

The diversity in these entrepreneurs doesn’t end here.

Content creators and gamers are also joining the bandwagon. Those who aren’t starting their own businesses are turning entrepreneurs.

Creators turn entrepreneurs in gaming 

Earlier this month, YouTuber CarryMinati, who is also a gaming influencer, partnered with his longtime business associate Deepak Char to become equity partners in Big Bang Esports Pvt. Ltd., the e-sports division of Big Bang Media Ventures.

“E-sports enjoys the potentiality of transforming the creator economy, building borderless communities and bolstering economic growth. The growth of esports in India has been phenomenal in recent years, and this boom will only gain momentum with more vigour and pace in the coming few years,” he said at the time of the official announcement. 

As new companies continue to emerge, some established ones are opting to broaden their offerings by launching new entities. One such example is Glance, which recently introduced Nostra. Yashashvi Takallapalli, the vice president and general manager of Nostra, explained that their goal was to expand the brand's reach globally. They aim to achieve this by diversifying their distribution strategy and forming strategic partnerships, with a goal of attaining 200 million active users by December 2024.

“Our vision is to create an independent, single-largest game discovery platform in the world that offers disruptive gaming experiences for users. It was crucial to create an independent brand in the form of Nostra, for gaming enthusiasts globally and be able to offer unique experiences across discover, play, watch and compete,” says Takallapalli.

Nostra is a gaming destination by consumer technology company Glance, which is a smart lock screen platform that provides live content across gaming, entertainment, sports and current events among others. The company is an unconsolidated subsidiary of InMobi Group and is funded by Google, Mithril Capital and Jio Platforms.

So what's the bottom line for what investors are looking for? 

Keeling explains what investors look for in ventures and entrepreneurs they invest in. “We typically look for founders that either have experiences building, shipping and managing games and products at scale, or a unique set of insights into a demographic market where there are opportunities for growth across the gaming stack."

Startup founders in India are waking up to white space in online gaming market

Activision Blizzard, the maker of popular games such as Call of Duty and Candy Crush, has reportedly suffered a data breach resulting in employee data, including contact and financial information, being leaked online.

Content plans for Call of Duty were also stolen in the breach.

When reached for comment, Activision spokesperson Joseph Christinat told TechCrunch that the company's security team "swiftly addressed an SMS phishing attempt and quickly resolved it" on December 4, 2022.

"No sensitive employee data, game code, or player data was accessed," Christinat said.

The statement contradicted twitter user @vxunderground. The user claimed that the unknown hackers managed to get into the system by successfully phishing "a privileged user on the network" and stole "sensitive work place documents" and scheduled content plans for their games, "dating to November 17th, 2023".


<blockquote class="twitter-tweet">.<a href="https://twitter.com/Activision?ref_src=twsrc%5Etfw">@Activision</a> was breached December 4th, 2022. The Threat Actors successfully phished a privileged user on the network. They exfiltrated sensitive work place documents as well as scheduled to be released content dating to November 17th, 2023. Activision did not tell anyone. <a href="https://t.co/urD64iIlC5">pic.twitter.com/urD64iIlC5</a>&mdash; vx-underground (@vxunderground) <a href="https://twitter.com/vxunderground/status/1627477748359872513?ref_src=twsrc%5Etfw">February 20, 2023</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>


This tweet was verified by Insider Gaming which managed to obtain the entirety of the data breach. The data contains employee contact information, salaries, and information on planned content for Call of Duty: Modern Warfare 2, Call of Duty 2023 (Jupiter) and Call of Duty 2024 (Cerberus). 

Activision not only hid the breach until the tweets were posted online, it also didn't alert employees.

Speaking to TechCrunch, two employees said the staff were not allowed to interact with the press and information on whether their data was accessed was not disclosed.

Activision Blizzard employee, game data stolen by hackers

By Vikas SN

Former Nazara Technologies CEO Manish Agarwal is partnering with angel investor Ishank Gupta to launch Kratos Studios, a Web3 gaming venture that has raised Rs 160 crore ($20 million) financing, marking a significant seed investment amidst a digital asset downturn led by crypto rout and the country's prolonged funding slowdown.

The fundraise was led by Accel, with participation from investors such as Prosus Ventures, Courtside Ventures, Nexus Venture Partners, and Nazara Technologies, among others.

The token round values the company at Rs 1,200 crore ($150 million) on a fully diluted basis. In token rounds, investors back a startup by directly buying tokens of the company instead of taking equity in the firm.

The company plans to use the funds raised to build the distribution rails in emerging markets for global Web3 games apart from investing in "most promising" Web3 games across the world.

IndiGG acquisition

In addition to the fundraise, Kratos Studios also announced that it has completed the acquisition of Polygon Labs-backed IndiGG through token swap, and that the company plans to operate its Web3 gaming operations under the IndiGG brand.

IndiGG's existing INDI tokens will be swapped with the new tokens once the company releases them for the general public (known as Token Generation Event) in the next 12 months, Agarwal told Moneycontrol. Until then, the INDI token will continue to trade on existing exchanges.

"We want to have a single source of value creation. Our view is that if the community creates value, then only investors, founders and the team will get value. We didn't want to create any structure where the community is not partaking. So, even the founders don't own equity," Agarwal said.

IndiGG is an India-focused sub-decentralised autonomous organisation (subDAO) of the Philippine play-to-earn gaming guild Yield Guild Games (YGG), which was built in partnership with Polygon Labs.

Decentralised autonomous organisation (DAO) is a kind of business structure where the control is spread out across a community with no central authority, thereby eliminating the need for traditional organisational hierarchies.

IndiGG raised $6 million in seed funding from investors such as Sequoia India, Lightspeed Venture Partners, and Animoca Brands in January 2022. Agarwal, who was at Nazara Technologies at the time, had also participated in the funding round as an angel investor.

In a statement, the startup said both its co-founders will continue to work closely with Polygon’s co-founder Sandeep Nailwal and Yield Guild Games (YGG)’s co-founder Gabby Dizon as it aims to build the largest gaming DAO in the world.

Focus on product-market fit before token launch

Agarwal said that they do not want to rush the launch of the new token without first establishing product-market fit and tokenomics.

"The launch of the token is purely a function of three things - the consumer traction on the platform, when we are able to see the economics of supply and demand of the token, and our handle on levers to control inflation and deflation," he said.

Agarwal added "We are here for a marathon. I have always built businesses which have a brick by brick foundation, so that you can have scalable, sustainable, profitable business models. That may come across as a non-Web3 topic since Web3 people don't usually talk about revenue or profits."

"We are providing the 500M+ South Asian gamers an opportunity to leverage their time and skill to become creators of digital goods on the blockchain for global games. This will enable South Asia to transform into a digital goods’ factory for the gaming world," he said.

Ishank Gupta said "The IndiGG stack will partner with existing gaming micro-communities in South Asia, both on-ground and online, as sub-DAOs in the IndiGG ecosystem. These micro-communities will facilitate community growth for global Web3 games,"

Web3 gaming had witnessed significant activity and investment in early 2022, driven by the rising adoption of blockchain and digital assets.

However, the downfall of Axie Infinity, once considered the poster child of blockchain gaming, along with the collapse of Terra Luna and FTX late last year, and a massive correction in the crypto space, had resulted in investor interest cooling off in the space.

That said, Indian gaming startup founders have previously said that Web3 gaming could provide potentially better monetisation opportunities for game developers, since it creates more equitable value for all the stakeholders in the ecosystem including game developers, content creators and the end customer, which doesn't exist in the current gaming ecosystem.

"Blockchain can fundamentally transform gaming and accelerate the growth in emerging markets. We believe that this team is the best suited to unlock this value for Gamers. We are committed to build a vibrant gaming ecosystem alongside IndiGG," said Subrata Mitra, Partner at Accel in a statement.

Ex-Nazara CEO Manish Agarwal's Web3 gaming firm raises $20M funding; acquires IndiGG

The online gaming industry in India is bracing for a significant blow as the government proposes to levy a 28 per cent Goods and Services Tax (GST) on all online gaming services.

The proposed GST rate is a substantial increase from the current 18 per cent GST on platform fees charged by online gaming companies. The increased tax burden is likely to have a significant impact on the industry, which has seen remarkable growth in recent years.

In response to the proposed tax hike, Abhishek Malhotra, managing partner at TMT Law Practice has written to the Prime Minister's Office seeking support to retain the 18 per cent GST on platform fees for online gaming firms. He has argued that the increased tax burden will be detrimental to the industry's growth and could lead to job losses and decreased investment in the sector.

“Currently, games of skill are charged at 18 per cent and games of chance at 28 per cent which is often referred to as a sin tax. However, the gaming industry is a significant contributor to the country's GDP and employment, and is involved in creative aspects such as game development. The online gaming industry should be encouraged rather than penalized by being subjected to a higher tax rate,” said Malhotra.

His argument also says that the proposed amendments to the IT Rule allow for regulation of intermediaries, and the TDS provisions under the budget suggest that the government wants to make a distinction between games of skill and games of chance. Moreover, the Supreme Court and the Karnataka and Kerala High Courts have all recognized the distinction between games of skill and games of chance, which is why this distinction should extend to the domain of taxation as well.

Clubbed with casinos and horse riding

An excerpt from the plea explains that online gaming is being clubbed with casinos and horse riding which can not only be classified as sin goods but is almost exclusively pursued by the elite section of society as opposed to this digital gaming has found a higher uptake amongst users in Tier-2 and Tier-3 cities. Consumers of online games, however, constitute an entirely different demographic, for whom online gaming is a source of affordable and accessible mode of entertainment.

“Imposing a 28 per cent tax liability on the companies for provisioning of such services would be tantamount to equating luxury goods with that of products of daily use and will invariably make this otherwise affordable commodity to increase in its value and cost, that is passed on to the end users,” the argument said.

Stakeholders in the space have time and again argued the downsides of the move.

“There are roughly 900 gaming ventures in the country. Most of these are at a very early stage and rarely clocking profits. The massive increase in taxation will stifle the growth of revenues and sink these early stage companies further into losses, making the industry unviable. This will eventually result in an oligopolistic market dominated by a few players. Such markets often have stifled innovation and growth,” says Paavan Nanda, CEO and co-founder of WinZO.

Alongside negative impact on business the development also comes with its share of confusion.

“While the increase in GST rates to the highest slab will hurt the business it is unclear on what the tax applies on and we hope it is on the revenue actually generated by the operators (ie GGR) and not on amounts that are not even booked as revenues,” says Siddharth Sharma, VP- Business Strategy, Head Digital Works.

If GST is on GGR, in line with international practices, it will still be a viable construct for both sides. If it ends up being the latter, Sharma says illegitimate betting and gambling operators that already exist will stand to gain the most while legitimate businesses will eventually cease to exist in this space.

As the industry awaits further updates, it remains to be seen how the proposed tax increase will impact online gaming in India and whether the government will reconsider its decision in light of the concerns raised by industry experts.

Gaming industry lawyer appeals to PMO to retain 18 percent GST on platform fees for online gaming

Online skill-gaming company Junglee Games has roped in Bollywood actor Ajay Devgn as the brand ambassador for its online rummy platform Junglee Rummy. The brand has also launched a national campaign 'Rummy bole toh Junglee Rummy' across television, digital media, OTT, and social media platforms, where the first high-decibel commercial went live in multiple languages went live on 17th February.

The campaign 'Rummy bole toh Junglee Rummy' demonstrates the company’s commitment to trust and player safety. It shows how Devgn puts his seal of approval on the measures taken by the rummy platform to ensure the best and safest rummy experience for all players. 

Bharat Bhatia, vice president - marketing, Junglee Games, said, “We are super excited to be launching this campaign with one of India’s best-known and most-loved faces, Ajay Devgn. With a wealth of experience and expertise in his field, he brings immense trust and credibility to the table, just like Junglee Rummy does with its rich experience in online rummy.”

He further adds, “Ajay Devgn’s mastery of his craft and his pan-India recognition make him the perfect brand ambassador for further cementing Junglee Rummy's position as India's most trusted rummy platform. Moreover, he exemplifies the entertainment value that we strive to provide to our players through our platform. We are confident that he will help us deliver the message of trust and safety to our target audience with greater conviction and create a massive impact.”

Speaking about his association with the brand, Devgn said, “I am delighted to be associated with Junglee Rummy, India’s most trusted rummy site, and to be part of their campaign ‘Rummy Bole Toh Junglee Rummy.’ Junglee Rummy has been in the online rummy industry for more than a decade now, and it is leading the way with its player-first approach. With its established expertise, state-of-the-art gaming technology, and robust security infrastructure, the platform has taken the game to the next level and has over six crore real players playing on the app.”

Junglee Rummy onboards Ajay Devgn as brand ambassador

Riot Games today announced the appointment of Arun Rajappa as country manager at Riot Games for India & South Asia as part of its expansion plan in South Asia. He has taken on the role as of February 6, 2023 and will be based out of Mumbai. 

Arun joins the leadership team as country manager for India & South Asia - he will be taking charge of business development in the respective markets, leading and hiring for a team to curate hyperlocal activities and develop immersive player experiences for Riot’s growing pool of players across various titles, esports, and entertainment.

Arun is a recognized executive with over 25 years of experience in building world-class products and growing diverse, inclusive teams with a culture of innovation and excellence. He comes with a wide range of experience at leading technology firms such as Google and Microsoft.  He worked as director of product for Android & Play at Google, where he focused on accelerating India’s digital transformation through market differentiated product capabilities in Android and Play.  As a director of product management at Microsoft India, he led products for Microsoft Teams and Emerging Markets. Through his career at Microsoft, Arun worked on products such as Microsoft Outlook, Microsoft 365, and Mobile Incubations.  

Over the last decade, Arun has been a passionate champion of India and Emerging Markets at Google and Microsoft. He continues to be inspired by the energy and youthfulness of the region, and the opportunity for technology to serve people in the region and help them unlock their potential. Arun has been playing video games since the inception of Gaming Era – from Donkey Kong Jr and Prince of Persia, Doom and Duke Nukem 3d, FIFA and Forza, Indie games like Stray and Descenders, to his current favorite – VALORANT! 

Arun will be the India Riot Games representative and report to Shinji Komiyama, director of country management for Asia Pacific. "India is a vibrant market with high potential for gaming, and esports is vital to our growth in the market. We are committed to building our footprint across the country, with new and exciting experiences that help us better hyper-serve our players and local community. We are very excited to welcome Arun onboard as the country manager for India & South Asia and are confident that his experience and passion for gaming will further help us identify growth opportunities to strategically expand and drive success in the Indian market," said Shinji Komiyama, director of country management, APAC, Riot Games. 

"I am thrilled to be joining Riot Games and taking on this exciting new role as the country manager for India and South Asia. I have always been passionate about gaming and look forward to working with all our incredible teams and partners to deliver a fantastic player experience which will surely define the future of gaming in the region," said Arun Rajappa, country manager, India & South Asia, Riot Games. 

India is the largest region within the Asia Pacific and one of the most active gaming communities in South Asia for Riot Games. Riot has strengthened its commitment to the Indian market with multiple initiatives and activations such as Harbor, VALORANT's first Indian agent and Lotus, the new VALORANT map inspired by traditional Indian architectural elements. With the appointment of Arun Rajappa as the country manager, Riot aims to deliver more hyperlocal experiences which resonate with gaming enthusiasts across the country. 

ABOUT RIOT GAMES

Riot Games was founded in 2006 to develop, publish, and support the most player-focused games in the world. In 2009, Riot released its debut title, League of Legends, to worldwide acclaim. League has gone on to be the most-played PC game in the world and a key driver of the explosive growth of esports. 

As League enters its second decade, Riot continues to evolve the game while delivering new experiences to players with Teamfight Tactics, Legends of Runeterra, VALORANT, League of Legends: Wild Rift, and multiple work-in-progress titles. Riot is also building the world of Runeterra through multimedia projects across music, comic books, board games, and the Netflix animated series Arcane.

Founded by Brandon Beck and Marc Merrill, and led by CEO Nicolo Laurent, Riot is headquartered in Los Angeles, California, and has 2,500+ Rioters in 20+ offices worldwide.

Former Google exec Arun Rajappa joins Riot Games as country manager - India, SA

nCore Games, mobile games and interactive entertainment company, has made a strategic investment of $1 million in Newgen Gaming, a gaming company which operates in the esports domain through its brand Penta Esports. For Newgen Gaming, this is its first funding round.


The funds will be used to accelerate the growth of the company’s offerings and to expand its team and operations across South Asia and MENA regions.

 
Through this investment, nCore Games will gain access to a strong network of esports athletes and fans, as well as strong content intellectual properties like Esports in 5, 1v1, Koffee with Kiran and more. Penta Esports will be able to capitalise on its strong growth and momentum with this infusion of capital.


The company was founded in 2021 by industry veterans Anurag Khurana, Kiran Noojibail,  Akshay Paul and Krishanu Ghosal. Its esports brand, Penta Esports, specialises in multiple verticals including leagues, tournaments and content. With a focus on the grassroots esports ecosystem of India, the brand enables esports athletes with opportunities across titles and platforms.

 

Since its inception, Penta Esports has launched its grassroot-focused league called the Penta Amateur League and the Penta Collegiate League for colleges and universities, alongside other tournament IPs like the Penta Invitational, Penta Cup, and Penta Challenge. The company’s latest IP, the Penta Pro Series which was an official Valorant Off Season event witnessed participation from the best teams across regions. Additionally the brand also has multiple content IPs and plans to launch more.


nCore Games is one of India’s premiere mobile games and interactive company and also has investment in Studio nCore, IceSpice and Dot9 Games. The company’s marquee investors include Galaxy Interactive and Animoca Brands. These investors have backed the company as their first investments in the Indian subcontinent in order to tap into the founders deep and unparalleled experience in mobile gaming and the region’s significant growth prospects.

Anurag Khurana, founder and chief executive officer, Newgen Gaming,  said, “We started Newgen Gaming with an objective to democratise gaming and esports in India. We will be scaling up rapidly and providing more opportunities to the players and experiences to the viewers across the region. We are excited to have raised this round from nCore Games. Vishal and I always had a collective vision that has been aligned to bring growth to the gaming industry. This collaboration will be our first big step together.”

Kaval Bombra, co-founder, president and CEO, nCore Global, said, “This strategic investment will mark our foray into esports and we are thrilled to have Newgen Gaming, an established leader in that segment, as our partner. We believe the team’s collective experience and vision has it poised for enormous growth and provides the right synergy for nCore as it works to establish a comprehensive gaming ecosystem.”

Vishal Gondal, co-founder, nCore Games, added, “As we set out to build a full-stack gaming ecosystem, we believe Newgen Gaming will be an integral part. Esports event management and fan engagement are set to become key growth drivers for the industry, and we look forward to tapping into Newgen Gaming’s expertise in this area as we build out India’s #1 gaming platform.”

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