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RMG is dead; can India's game development startups step up?

Inc42 · 2y ago

RMG is dead; can India's game development startups step up?

India's game development startups are gaining attention from VCs and investors as they seek alternatives to the troubled real-money gaming sector. The recent tax action against real-money gaming platforms has disrupted the industry and led to closures and layoffs. Game development startups are facing challenges related to talent and high operational costs, which cannot be solved solely through VC funding. Startups are looking to nurture talent, improve government policies, and address the lack of resources and outdated syllabuses. VCs are cautious about investing in the game development space due to longer timelines for returns and the lack of precedents for success in India.

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RMG Continues To Bleed, Blinkit Bags INR 600 Cr & More

Inc42 · 2m ago

RMG Continues To Bleed, Blinkit Bags INR 600 Cr & More

India's real-money gaming (RMG) sector faces significant challenges with major companies like Junglee reducing staff and Dream Sports pivoting towards SaaS. Dream Sports is initiating a shift by open-sourcing its technology, HorizonOS, to offer development tools, aiming to generate revenue while aiding startups in focusing on core products. Meanwhile, the regulatory environment remains stringent, continuing to impact the RMG landscape.

India gaming incubator adds six startups including Kolkata's Advaita

Economic Times

Economic Times · 10m ago

India gaming incubator adds six startups including Kolkata's Advaita

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Dream11, three other startups off unicorn list after online gaming law: Report - The Economic Times

Economic Times

Economic Times · 5m ago

Dream11, three other startups off unicorn list after online gaming law: Report - The Economic Times

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Real money gaming ban to unlock growth for ill monetised non-RMG titles: Report - The Economic Times

Economic Times

Economic Times · 4m ago

Real money gaming ban to unlock growth for ill monetised non-RMG titles: Report - The Economic Times

India's gaming sector is shifting towards non-real money gaming (non-RMG) following a ban on real money gaming (RMG) under the new law. A report by Lightbox highlights this transition, noting that India, with around 420 million players, is under-monetised. Non-RMG gains revenue through in-app purchases, advertising, and subscriptions. This shift is driven by player spending on features like battle passes, with regional content gaining popularity, positioning India for innovative revenue models.

Auctoria uses generative AI to create video game models

TechCrunch · 2y ago

Auctoria uses generative AI to create video game models

Polish startup Auctoria is using generative AI technology to automate the process of creating 3D video game assets. The platform can generate entire 3D game levels, convert image textures into 3D elements, and even turn sketches into digital models, offering a comprehensive toolset for game development professionals. Auctoria, which has been in development for two years, aims to address the lack of AI-based software for creating complete 3D world models. The company is currently looking to raise up to $5 million to scale its platform and improve user experience.

Winzo develops model to differentiate games of skill and chances with IITs

Economic Times

Economic Times · 2y ago

Winzo develops model to differentiate games of skill and chances with IITs

Skill-gaming platform Winzo has collaborated with top institutions like IIT Delhi, IIT Kanpur, IIT Madras, Stanford University, and California State University to develop a statistical model that can differentiate between games of skill and chance. This initiative aims to enhance transparency and fairness within the gaming industry and provide a scientific methodology to determine if a game is a game of skill. The model can be applied to any game without the need for proprietary data or violating intellectual property rights. This development comes amidst concerns about self-regulatory bodies in India's online gaming sector.

Mahindra Partners with Samsung to Launch Digital Car Keys

StartupTalky

StartupTalky · 3m ago

Mahindra Partners with Samsung to Launch Digital Car Keys

Mahindra & Mahindra has teamed up with Samsung to introduce digital keys for their electric SUVs, integrated with Samsung Wallet. This innovation eliminates the need for physical keys and is initially available on Samsung Galaxy Z and S series devices released after 2020, with plans to include the A series. Owners can lock and unlock cars using NFC technology even if their phone's battery is dead. This collaboration marks Mahindra as India's first automaker to adopt Samsung's digital key technology.

Retro tax waiver set to ease gaming companies Rs 1 lakh core tax pain

Economic Times

Economic Times · 1y ago

Retro tax waiver set to ease gaming companies Rs 1 lakh core tax pain

The Goods and Services Tax (GST) council's recommendation to allow the government to overrule retrospective tax demands could potentially resolve pending indirect tax cases worth ₹1 lakh crore against companies in the real money gaming (RMG) sector. However, this is just the first step in resolving the issue, as the provision for the government to overrule such demands did not exist under the GST Act. The recommendation will likely face debate before being implemented, and a coalition government adds further uncertainty. Additionally, a combined pending tax case against several RMG firms continues in the Supreme Court.

I-T breather to help loss-making firms conserve working capital

Economic Times

Economic Times · 1y ago

I-T breather to help loss-making firms conserve working capital

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SC Directs Centre To Reply On Pleas Challenging RMG Ban

Inc42 · 3m ago

SC Directs Centre To Reply On Pleas Challenging RMG Ban

The Supreme Court directed the Centre to provide a comprehensive reply to petitions challenging the ban on online real money gaming (RMG) in India. This matter, transferred from several High Courts, contests the new legislation that prohibits RMG and restricts financial transactions for such platforms, with penalties including imprisonment and fines up to INR 3 crore. The next hearing is scheduled for November 26.

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