Connect with us

Asia

Nazara raises INR 315 Cr from marquee investor

Published

on

Vi brings Gaming for its customers, in association with Nazara Technologies
Reading Time: 2 minutes

 

Nazara Technologies Limited an India based, diversified gaming and sports media platform announced that its board has approved preferential allotment of fresh equity to raise INR 315.30 Crores from marquee institutional investors subject to the approval of the shareholders of the Company and such regulatory/ statutory authorities as may be applicable.

The Company will issue 1,429,266 equity shares of face value of Rs. 4/- each at a price of Rs. 2,206/- per equity share (including a premium of Rs.2,202/- per equity share). As per SEBI ICDR Guidelines, these shares will be locked in for a period of 1 year from the date of issue.

This infusion of fresh funds will be utilized to invest in growth initiatives of the company as well as pursue strategic acquisitions in the various business verticals of the company including gamified learning, freemium, skill based real money gaming and esports as the company continues to expand its “Friends of Nazara” ecosystem.

Says  Nazara Technologies Ltd., CEO, Manish Agarwal, “We are thankful to our investors for their strong endorsement of Nazara’s strategic vision and ability to execute towards its stated goals. The investment from such institutional investors will act as a catalyst for the Nazara flywheel to operate faster across all business segments and will result in compounding of the shareholder value organically and inorganically at parent as well as at subsidiary levels”

The “Friends of Nazara” network comprises of established gaming companies in which Nazara holds majority stakes and works actively with existing founders and management teams to rapidly achieve scale. These companies include Nodwin Gaming and Sportskeeda in esports, Next Wave Multimedia (developer of World Cricket Championship (WCC), the largest mobile-based cricket simulation game), Paper Boat Apps (developers of popular gamified early learning app Kiddopia) and Halaplay and Openplay in the skill based real money gaming vertical.

Asia

Fragnova shows the positive side of Web3 technologies with its first game, Ambal Duels

Published

on

Reading Time: 2 minutes

 

Fragnova has announced that Ambal Duels, a free-to-play strategy card game, will be the first blockchain-enabled game to be built using the platform’s unique game development engine, Claymore. Using blockchain technology means the game will have immutable assets and modding functionalities, allowing the community to create their own content that they can choose to monetise, thanks to the direct-to-creator royalties distribution that’s fundamental to Fragnova’s approach.

Ambal Duels began life as a successful Kickstarter campaign for the fantasy-themed strategy card game Ambal Tournament. Ambal Duels is the first game to be built entirely using Fragnova’s decentralised model, and so is the platform’s first proof of concept game.

The game’s development is being led by Bernardo Bittencourt, a Founding member of Fragnova and the one-person team behind Salt Ring Games. “Bringing Ambal Tournament to the digital realm has been a passion project of mine, so I’m really excited we’ll be able to grow the game and share the fantasy world of Ambal with entirely new audiences. Fragnova is the perfect platform for Ambal Duels as the blockchain provides the ideal foundation for players to trade and collect cards. The platform’s focus on user-generated content and modding functionalities make Fragnova unique, enabling the community to express themselves creatively while keeping the game fresh with new content.”

Ambal Duels is a strategic card game combining online RPG elements to create a fast-paced and highly customizable gameplay experience. There are no monsters in Ambal Duels; instead, the game offers deep strategic options through spells and actions, putting players in the centre of the action. The tides of battle constantly shift thanks to blocks, interrupts and other unique mechanics, offering high replayability and evolving strategies.

Fragnova’s aim is for the revenues in games to be distributed more equitably to those who work on them through creating a decentralised gaming ecosystem underpinned by blockchain technology. When completed, Fragnova’s decentralised game development ecosystem will include a dedicated game engine called Claymore, a Gamer Store offering in-game items or playable experiences (similar to elements of Playstation Dreams), and the Creator Store, a marketplace for developers filled with assets like 3D models, scripts or audio.

As with any game developed on the Fragnova ecosystem, Ambal Duels’ developers and artists can realise the total value of their creations thanks to the integration of blockchain technology that tracks the usage of those assets or items.

“The game will allow people to see what our mission at Fragnova is all about and our long-term goal of bringing about decentralised game creation. I hope people will understand that just because the game is built using blockchain technology, it has nothing to do with Play 2 Earn or monetisation. Above all, we want to create a fun and enjoyable experience for our players. Blockchain is just a vehicle to help get us there and ensure game creators are fairly compensated,” said Giovanni Petrantoni, President and Founder of the Fragnova Foundation.

Continue Reading

Asia

Macau Gambling Boss Denies Illegal Gambling, Criminal Syndicate Allegations

Published

on

Reading Time: < 1 minute

 

A well-known Macau gambling boss in China’s special administrative region of Macau denied charges including enabling illegal gaming, running a criminal syndicate and money laundering at the start of his trial on Monday.

Alvin Chau was chairman of Macau’s Suncity junket – which brokers the gambling activity of Chinese high rollers – until December 2021, a month after his arrest on a warrant from the eastern Chinese city of Wenzhou accusing him of operating illegal gambling activities on the Chinese mainland.

Macau is the only city in China where citizens are legally permitted to gamble in casinos.

Chau told Macau’s primary court that he did not operate any illegal gambling or commit money laundering. He said his business in the Philippines was also permitted by local authorities there.

Junkets are middlemen who help facilitate gambling for wealthy Chinese in Macau, extending them credit and collecting on their debt on behalf of casino operators. Marketing or soliciting gambling in mainland China is illegal.

Chau said no one from Suncity Group had promoted gambling on the mainland.

Chau’s Suncity was a major player in Macau until 2019, prior to the coronavirus outbreak, accounting for around 25% of total gaming revenues. That year, Macau casinos generated $36 billion in revenue.

The junket industry has collapsed in the former Portuguese colony since Chau’s arrest with all of Suncity’s VIP rooms shuttered last December. Many others folded, hit by poor sentiment and a lack of business due to COVID-19 related travel restrictions.

Continue Reading

Asia

IESF Holds Asian Qualifiers for Mobile Legends: Bang Bang and PUBG Mobile

Published

on

IESF Holds Asian Qualifiers for Mobile Legends: Bang Bang and PUBG Mobile
Reading Time: < 1 minute

 

Malaysia and Kazakhstan Teams Advance to the World Esports Championships Finals

The International Esports Federation (IESF) held the latest round of regional qualifiers for the upcoming World Esports Championships Finals. The Malaysia and Kazakhstan teams have advanced to the WE Championships Finals for Mobile Legends: Bang Bang (MLBB) and PUBG Mobile, respectively.

The online qualifiers featured players from 16 nations competing in MLBB, while PUBG Mobile saw players from 22 nations. The 14th WE Championships will mark the first time the two games are part of IESF’s flagship event, reflecting the progression of the event and the overall mobile gaming industry, particularly among those without the resources or means to play on consoles and supporting IESF’s vision for a more accessible and inclusive Esports ecosystem.

The remaining regional qualifiers will continue throughout the fall before the world’s best players go head-to-head in Bali, Indonesia from December 1 to 12. This year is expected to be the largest and most geographically diverse installment of the WE Championships Finals to date, with 120 nations set to compete.

Continue Reading
Advertisement
EvoPlay
Advertisement

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.