Asia
Web3 to rule the game-tech bandwagon in India
![](https://europeangaming.eu/portal/wp-content/uploads/2023/03/web3.png)
As the world of technology continues to evolve, the adoption of Web3 has been multiplying in India. Web3, the third generation of the internet, is a decentralized and open-source platform that allows creating communities and building new digital economies.
Select new-age firms in the Web3 gaming space are already making headlines for their robust, pioneering advancements in building the community in the Web3 gaming environment. Some prominent names are Trinity Gaming, IndiGG and Yudiz Solutions.
Kratos Studios, a Bangalore based Web3 gaming venture, recently raised INR 160 Cr at a valuation of INR 1200 Cr to acquire IndiGG. This blockchain-based gaming community is building distribution rails in emerging markets for global Web3 games.
Highlighting the need for skilled gamers to develop goods in the thriving virtual Web3 gaming space, Manish Agarwal, Founder of IndiGG DAO, said, “We are providing the 500M+ South Asian gamers with an opportunity to leverage their time and skill to become creators of digital goods on the blockchain for global games. This will enable South Asia to transform into a digital goods factory for the gaming world.”
One of the most significant advantages of Web3 is the ability to build communities. This is precisely what IndiGG is doing, as they bring together thousands of gamers on their platform and provide them access to over 5000 web3 games, including NFT token games. This creates a unique and engaging gaming experience while building a solid community around the platform.
Meanwhile, Yudiz Solutions Limited an Ahmedabad based blockchain, AI and game development firm that is creating stellar enterprise solutions through synergized trending technologies with a strong international footprint is making significant strides in the Web3 space. They are focused on creating games incorporating blockchain technology offering new opportunities for engagement and monetization for players.
The company has recently filed draft papers for IPO, this will make them the first company with a combined presence in the blockchain, AI and game development to publicly enlist. It will also be the next company after Nazara Technologies Ltd. in the gaming space in the country.
While underscoring the importance of early adoption of Web3 gaming, Bharat Patel, Chairman and Director, Yudiz Solutions, said, “The Web3 gaming ecosystem presents an exciting opportunity for businesses and individuals alike. By entering this space now, we can shape the industry’s future and establish ourselves as key players in the global gaming market.”
Trinity Gaming India, a Delhi based entity driving Web3 adoption in the country aims to facilitate Web3 business worth USD 10 million in the country. With access to 40 million gamers, the brand has built key partnerships with international entities to provide influencers and creators an opportunity to work with international brands and businesses in the web3 space. Additionally, they are working to educate Indian gamers on the benefits of Web3 and how it can help them build communities. They recently partnered with Emchain FZE and plan to collaborate with Everdome to build a virtual community in the Web3 space.
Shivam Rao, Founder & COO, Trinity Gaming India, commented on the new methods for content creation and brand promotion in the Web3 space, saying, “The Web3 space provides new and exciting opportunities for companies to engage with their audiences. By incorporating blockchain technology and creating immersive experiences, brands can build stronger customer connections and create long-term loyalty.”
India’s gaming market is projected to grow from USD 2.6 bn in 2022 to USD 8.6 bn by 2027, with over 900 gaming businesses in India by 2022. The decentralized and democratized approach of Web3 gaming is gaining momentum in the country, with Indian Web3 gaming companies raising USD 620.5 mn in 2022 across 32 deals. The cutting-edge technology of Web3 gaming offers thousands of gamers the freedom to play nearly 1000 games, personalize their experience and set the standards of how they want to engage with the game and rewards while building and customizing virtual worlds.
Asia
PAGCOR BRAVES FLOODS TO HELP DISASTER-HIT COMMUNITIES
![](https://europeangaming.eu/portal/wp-content/uploads/2024/07/PAGCOR-BRAVES-FLOODS-TO-HELP-DISASTER-HIT-COMMUNITIES_20240726_120712_0000.png)
At the height of the downpour and massive flooding in Metro Manila and nearby provinces Wednesday, volunteer teams from the Philippine Amusement and Gaming Corporation (PAGCOR) started bringing relief packs to affected communities.
Classes and government work were suspended on Wednesday and Thursday due to the widespread flooding, but PAGCOR volunteers went into action nevertheless.
“Even at the height of the flooding, and even before the President ordered government agencies to provide assistance to affected communities, PAGCOR employees already went to action to help those in need,” PAGCOR Chairman and CEO Alejandro H. Tengco said.
The PAGCOR chief said that since July 24, the agency has delivered more than 21,000 food and non-food relief packs for thousands of affected families.
“After the heavy rains subsided and it was safe to do so, we started bringing immediate aid to flooded communities in Caloocan City on Wednesday, followed by relief operations in Valenzuela, Malabon and Malolos, Bulacan the next day,” he said.
Mr. Tengco added that PAGCOR was scheduled to distribute relief goods to the cities of Marikina and Navotas on Friday as well as to affected towns in Bulacan like Calumpit and Bulakan which were all submerged in floodwater.
“It has been second nature to PAGCOR to immediately respond to the needs of affected communities in times of disasters,” he said.
“We understand that while it is part of our mandate to contribute to nation-building, it is also our moral obligation to help ease the plight of Filipinos in times when they need help the most,” the PAGCOR chief added.
He said PAGCOR’s relief operations are ongoing, with more employees volunteering to help repack relief goods Saturday and Sunday in the agency’s warehouse in Imus, Cavite to support distribution efforts in the coming days in Bataan, Batangas and Cavite.
Asia
AGTech Wins Lottery Terminal Supply Tenders for Shaanxi, Zhejiang and Jiangsu Provinces
![](https://europeangaming.eu/portal/wp-content/uploads/2024/07/4-9.jpg)
Lottery and integrated technology and services company AGTech Holdings Limited (AGTech) has announced that one of its wholly-owned subsidiaries has successfully won procurement tenders to supply lottery terminals to Sports Lottery Administration Centres in Shaanxi province, Zhejiang province and Jiangsu province of the People’s Republic of China.
AGTech already has previous success in the China market, having won a bid in 2018 for supplying its new dual, touchscreen lottery terminals to the Chinese provinces of Guizhou, Shanghai and Hebei.
Even before this, AGTech introduced new instant win games, launched in partnership with Chinese logistics firm SF Holdings across Shenzen, Nanchang, Changsha and Nanjing.
Asia
Philippine President Marcos Announces Ban on POGOs
![](https://europeangaming.eu/portal/wp-content/uploads/2024/07/2-8.jpg)
Philippine President Ferdinand Marcos Jr has banned the establishment of any new Philippine Offshore Gaming Operators (POGOs), also known as Internet Gaming Licensees (IGLs), with immediate effect. Existing POGO operators will have until the end of the year to wind down their operations.
The verdict, not entirely unexpected, was delivered during his State of the Nation Address in Manila on Monday following widespread pressure from a Senate investigation into illegal POGO-linked activities.
“Effective today, all POGOs are banned. I hereby instruct [gaming regulator] PAGCOR to wind down and cease the operations of POGOs by the end of the year,” Marcos said in his SONA.
The decision to shut down POGOs follows a series of recent raids on illegal POGO compounds in Pampanga and Tarlac amid allegations they had been engaging in human trafficking and scam activities.
A full ban, proposed by multiple senators, had also gained the support of the Department of Finance (DOF) and the National Economic and Development Authority.
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