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VCs chasing Indian studios working on complex games
Economic Times
·
1y ago
Medial
Indian studios working on midcore and hardcore games are attracting increased interest from investors. These games, which have higher complexity compared to casual games, are typically published by international companies. However, a growing number of Indian studios are developing such games themselves or providing related services. Diversified investors are also showing interest in the gaming industry. The lack of experienced talent in this sector is identified as a major challenge, but efforts are being made to train and cultivate talent. India's gaming market is experiencing improved monetization potential, with games like Battlegrounds Mobile India and FreeFire generating significant revenues. Indian studios are also offering services to maintain and update published games and helping global publishers adapt their games for the Indian market.
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Kratos Studios launches Rs 50 crore grant to shift games to blockchain
Economic Times
·
1y ago
Medial
Gaming platform Kratos Studios has launched a Rs 50 crore grant program to incentivize gaming studios to shift their games to its blockchain platform. The grant will be used to convince studios to onboard their games onto Kratos's blockchain, allowing players to win rewards in the form of "Kratos cash" tokens. Kratos aims to collaborate with 10 to 15 studios by March 2024, with a focus on mature games that have over 500,000 daily active users and are profitable. The funding round led by Accel in February raised Rs 160 crore ($20 million) for Kratos Studios.
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Former Unacademy Executive Floated LightFury Bags $8.5 Mn
Inc42
·
1y ago
Medial
Indian gaming startup, LightFury Games, has raised $8.5 million in seed funding led by Blume Ventures. The company plans to utilise the funding to develop AAA games in India, initially focused on mobile gaming before expanding to other platforms. AAA games are high-budget, high-quality games developed by major studios and typically released on multiple platforms. LightFury Games aims to revolutionise gaming experiences with immersive gameplay and advanced technology. The Indian gaming market is growing rapidly, with over 500 million active gamers, but has yet to produce a homegrown AAA game.
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Microsoft has over a dozen games in development, says Director of Live Game Operations
CityLife Capetown
·
1y ago
Medial
According to Crystin Cox, Microsoft's Director of Live Game Operations at Xbox Game Studios, the company is currently working on more than a "dozen games." Cox shared this information during a GDC talk, where she discussed production and team leadership. This news has generated excitement among Xbox fans and the gaming community, as they anticipate the release of these upcoming titles. Microsoft has also teased multiple games slated for release in the coming years, emphasizing their focus on delivering exceptional gaming experiences.
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Netflix backs out of plan to develop blockbuster videogame
Livemint
·
9m ago
Medial
Netflix has decided to shift its focus away from developing high-end video games and will instead concentrate on producing casual games. The company recently cancelled its own Triple-A title, laying off around 30 employees in the process. Triple-A games are large, complex, and expensive to produce. Netflix had been working on a multiplayer shooter game, which was intended to be played on smartphones, tablets, TVs, or personal computers. The streaming giant will still consider featuring Triple-A games from third parties on its platform. Netflix aims to keep users engaged between seasons of their favorite shows and attract new subscribers with gaming content.
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Tencent shuts US video games studio Team Kaiju
Economic Times
·
1y ago
Medial
Chinese tech giant Tencent has closed down its US video game studio, Team Kaiju, as part of its strategy to become a competitive game developer in the Western market. The studio had been working on a multiplayer game under the leadership of game designer Scott Warner, who left the company in April. Tencent's move comes as it focuses on building studios overseas and developing games targeted at overseas markets. The shuttering of Team Kaiju will see its staff reassigned to work on other projects within Tencent.
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MPL’s Mayhem Studios Begins Closed Beta Of Its AAA Title Underworld Gang Wars
Inc42
·
1y ago
Medial
Mayhem Studios, the mobile game development arm of Mobile Premier League (MPL), has launched the closed beta version of its first AAA title, Underworld Gang Wars (UGW). The game has generated over 7 million pre-registrations and is set in Indian locations, allowing players to choose sides and join gangs. Mayhem Studios aims to develop high-quality games that make an impact on the gaming industry, both domestically and internationally. The launch of UGW comes at a time when midcore and hardcore gaming are gaining traction in India.
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Nazara’s publishing division partners with four Indian gaming studios
Inc42
·
1y ago
Medial
Gaming unicorn Nazara Technologies has partnered with four Indian game studios to publish five casual and mid-core games in India as part of its new publishing division. The company aims to publish 20 games within the next 12-18 months, with investments ranging from INR 1-3 crore per game. The partnership includes games like 'Gravity Shooter', 'World Cricket League', 'Hacked: Password Puzzle', 'Laser Tanks', and 'Paperly'. Nazara Technologies offers financial investment, mentorship, user acquisition, and live operations expertise to game developers.
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3one4 Capital leads $3 Mn round in Felicity Games
Entrackr
·
5m ago
Medial
3one4 Capital leads $3 Mn round in Felicity Games Mobile game publisher Felicity Games has raised $3 million (about Rs 25.8 crore) in a seed funding round led by 3one4 Capital along with participation from international investors such as T-Accelerate Capital, MIXI Global Investments, and its existing investors DeVC and Visceral Capital. The Bengaluru-based company had previously raised $700K in a pre-seed funding round from its existing investors back in December 2023. The proceeds will be utilized to expand its publishing infrastructure and deepen its relationships with Indian game studios, Felicity Games said in a press release. Founded in 2023 by Anurag Choudhary, Felicity Games is an India-based mobile game publisher focused on building global gaming successes. By combining data-driven game development with cutting-edge publishing infrastructure, Felicity helps studios launch, optimize, and scale their games worldwide. Felicity Games aims to bridge the gap in the mobile gaming ecosystem, providing studios with the technology, insights, and comprehensive support needed to compete and succeed on a global scale. The startup is committed to scaling its successful titles and testing additional games by the end of 2025. Felicity aims to empower global game publishing by tapping into India’s burgeoning game development ecosystem. Specializing in hybrid-casual games publishing, the company combines data-driven insights with a strong execution model to deliver high-performing mobile games to audiences worldwide. Felicity claims that it has surpassed $1 million in annual recurring revenue (ARR) and crossed 1 million downloads across its top-performing titles, Seek & Find and Nova Solitaire. The company closed February with over $100K in gross revenue, marking a 4X scale-up from November 2024. It primarily competes with the global notable players in this space such as Voodoo, Homa, Rollic, Supercent, amongst others.
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Mayhem Studios Bags Funding From Lumikai
Inc42
·
1y ago
Medial
Indian gaming studio Mayhem Studios has received an undisclosed investment from Lumikai, a gaming-focused venture capital firm. Mayhem Studios, a subsidiary of gaming unicorn Mobile Premier League, plans to use the funding to further develop its upcoming battle royale mobile game, Underworld Gang Wars. The investment will also support expanding the development team, accelerating game enhancements, and upgrading technological capabilities. This funding highlights Lumikai's commitment to supporting globally competitive games from India, amid increasing interest in the hardcore gaming sector.
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Microsoft to cut 650 support jobs in Xbox Games unit
Economic Times
·
11m ago
Medial
Microsoft is cutting 650 jobs in its Xbox unit as part of ongoing cost-cutting measures and integration efforts following its acquisition of Activision Blizzard. Xbox chief Phil Spencer stated that the layoffs will primarily affect corporate and supporting functions, with no games, devices, or studios being impacted. This is the third round of job cuts this year for Xbox employees, following previous reductions after the acquisition of Activision and the closure of some studios acquired through the ZeniMax purchase. Microsoft's decisions, including releasing Xbox games on other platforms, have drawn criticism from fans questioning its commitment to exclusive content.
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