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Online Gaming Scales Newer Heights Amid Pandemic Gaming
Jochebed Mendes
Posted on 31 May, 2021
By Jochebed Mendes
On 31 May, 2021
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By Jochebed Mendes
On 31 May, 2021
Share

Online Gaming Scales Newer Heights Amid Pandemic


According to a report by CNBC TV18, the year 2020 was an inflection point for the online gaming industry. The COVID-19 related restrictions helped the gaming sector grow at an unprecedented rate since there were limited sources of entertainment available due to the lockdown. As per news reports, numerous startups saw their valuations triple in just a few months after the pandemic struck. Reports stated that the gaming sector in India attracted a total of $544 million investments from August 2020 to January 2021.

Further reports stated that as the online gaming space is growing, there has also been an increase in legal scrutiny for business models of various companies who are in the real-money skill games space. 

ALSO READ: NODWIN Gaming Partners With Riot Games To Host Qualifiers For VCT 2021

According to Financial Express, the Venture Intelligence report stated that venture capital funds have invested about $438 million in Indian gaming startups since April 2020. Another report by Inc42 stated that esports was responsible for 4% of all online gaming users and had constituted about 9.13% of aggregated revenue out of the entire gaming market. 

Experts reportedly told the media that esports has a promising future in India and the credit goes to the young population. Also, the increased use of smartphones, rising investments by capitalists, and accessibility to technology and internet has contributed to the anticipation of a big future for the world of esports in the country. Industry experts stated that India has about 300 million plus gamers. The sector is filled with enthusiasm, creativity and opportunities. Increased mobile usage, esports in education, bigger prize pools, live streaming and increased viewership have fueled the growth of esports in India.

According to a report by CNBC TV18, to shed light on the road ahead for the gaming sector Startup Street spoke to Bhavin Pandya, the co-founder & CEO of Games 24X7, Sai Srinivas Kiran, co-founder & CEO of MPL and Vaibhav Kakkar, Partner at L&L Partners. They all gave an insight on how the experts anticipate the future of the Indian gaming sector.

For more news and updates, keep reading GutshotMagazine.com. Follow us on our social handles Facebook, Instagram, and Telegram.
 
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