Paytm First Games has announced the rupees. The £100 million funding provides a launch pad for local developers and design studios. The company, owned by Noida-based One97 Communications, also promised to provide technical solutions for participating Indian developers and promote their games on the Paytm First Games app. In addition to the newly created fund, Paytm First Games also plans to invest in Rs. In the 2020-21 fiscal year, the fantasy sports and online game market will have sales of 3 billion.
Pass Rs. Paytm First Games has 1 billion funds and will organize a series of events and hackathons to identify young Indian developers and plan their games. However, specific details on how to allocate funds have not yet been announced.
Paytm First Games claims to promote games focused on Indian culture and folk tales, thereby leading the country’s digital game field.
“As a local company, we want to play our role in supporting the Indian gaming ecosystem. Our goal is to support more than 200 talented developers who may not have access to resources comparable to large studios.”
Except for the allocation of Rs. Paytm First Games provided local developers and design studios with a capital of Rs 100 crore, aiming to invest a total of Rs. In the current fiscal year, Rs 3 billion will be used for fantasy sports and other online gaming activities.
Paytm First Games recently hired Sachin Tendulkar as its brand ambassador. The cricket star will help to consolidate its position in the fantasy sports market, which has already included Dream11 and Mobile Premier League as its two main players.
A few weeks after Google withdrew the Paytm First Games app from the Play Store for violating its content rules, a new announcement was issued. The Paytm application was also removed from Google Play, but it came back shortly afterwards.
Disclosure: One97, Paytm’s parent company, is an investor in TechnologyShout.
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