WinZO Announces $1.5 Million Fund To Promote Game Developers In India
Paavan Nanda, Co-founder, WinZO, said, “Through this fund, we are looking to partner with Gaming Studios as well as independent game developers by offering them an infrastructure to develop top quality content and a powerful platform to monetize their games from day one.
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WinZO, e-sports gaming platform, announced $1.5 million (approx 10 crores) fund to support game developers and acquire content for the platform.
Paavan Nanda, Co-founder, WinZO, said, “Through this fund, we are looking to partner with Gaming Studios as well as independent game developers by offering them an infrastructure to develop top quality content and a powerful platform to monetize their games from day one. A sector gets disrupted when the best brains of the world work actively towards unlocking its potential. Through this initiative, we look forward to interacting with highly enthusiastic and top-notch talent, keen at creating a dent in the global gaming ecosystem”.
The startup, backed by Kaalari Capital, offers more than 25 games on its app-based platform in ten languages, namely English, Hindi, Bangla, Tamil, Telugu, Kannada, Gujarati, Marathi, Punjabi, and Bhojpuri. It aims to develop real-time multi-player mobile gaming experience that is social, inclusive, and accessible for the first-time smartphone users in Tier 2 and Tier 3 markets. WinZO would use the funds, set aside to develop localized content for the platform in partnership with cherry-picked game developers in India and around the world.
On this largest vernacular esports platform, more than 80 per cent of users is using the app in non-English languages. The average time spent by the players on the platform is 55 minutes, only 10 per cent of the players are from the top cities of the country.
He further added: “WinZO’s social multi-player skill gaming platform clocked 100 million gaming minutes every day and has been able to successfully monetize this engagement. The company is growing 50 per cent month on month. On one hand, large OTTs platforms are struggling to monetize in India, but WinZO is facilitating the first-ever M&E transactions from the tier 2 or tier 3 audiences”.
There are 300 million internet users that spend over 45 minutes daily playing games on their smartphones. These users hardly make in-app purchases and advertisement revenues for some of these digital assets are abysmally low vis-a-vis some of its global counterparts.
Increasing mobile penetration and high usage has led to a surge in mobile gaming in India. The average mobile device user spends 3-4 hours every day watching over the top, playing games and music or on online shopping. Mobile gaming, however, is the fastest-growing source of entertainment for Indian users. This upsurge will create immense opportunities in the gaming ecosystem, employment generation, entertainment, engagement, and market growth.