Gaming – Page 10 – storyboard18

Game over for profits? Industry unplugs concerns over GST

In addition to the basic rate of 30 percent, a health and education cess at the rate of 4 percent of the amount of tax is levied. Thus the effective tax rate on lottery winnings comes up to 31.2 percent. (Image sourced via Unsplash)

With the GST casting a shadow, the online gaming industry faces a tough choice: adapt and evolve their business models, or face a potential game over.

Pre-GST boom, post-GST gloom: Online gaming stumbles in India

Inspired by Mahatma Gandhi’s wisdom, “Be the change you wish to see,” Growth Ka Chashma invites investors to “Spot the growth you want in your portfolio.” It simplifies financial literacy with a gamified approach, combining advanced AI with market analysis to make stock market learning more accessible.

For a sector which has created 100,000 jobs and was expected to create around three times more jobs in coming years, such job erosion is an alarming concern that reflects the adverse business impact of the GST amendment, the report points out.

Rethink GST or risk losing billions: India’s skill-based online gaming needs a tax fix

The sports technology sector is ripe for investment, projected to be a $1 billion market with a projected CAGR of 19%. (Representative Image: JESHOOTS.COM via Unsplash)

The GST tax has led to users embracing untaxed platforms, rise of grey market and potential loss in foreign investment.

Emergence of gaming creators’ economy in modern marketing

This vibrant ecosystem, comprising content creators, streamers, and influencers are all contributing to produce engaging content. And by integrating influencers into their marketing strategies, brands can also tap into the power of storytelling and community-building, creating compelling narratives that drive consumer engagement and loyalty.

The creators’ economy whilst creating engaging content is helping brands to connect with tech-savvy audiences across a diverse demography, writes Animesh Agarwal, founder and chief executive officer of 8Bit Creatives and co-founder of S8UL.

IOC exec board proposes creation of “Olympic Esports Games” to IOC Session

The IOC has been engaging with esports since 2018 in a holistic way. It has chosen an approach that allows the organisation to be successful in the esports space while staying true to the values that have guided the IOC for over a century. “With respect to esports, our values are and remain the red line that we will never cross,” the IOC President said.

The IOC is already in advanced discussions with a potential host, and an announcement can be expected very soon after the last formalities have been finalised.

Google launches kid-safe Fitbit Ace LTE watch

Google worked with leading, independent experts in child psychology, public health, privacy and digital wellbeing to design Fitbit Ace LTE.

Fitbit Ace LTE is a new, first-of-its-kind connected smartwatch that transforms exercise into play and safely helps kids lead more active, independent lives, Google said.

More than 75 games are now available to play directly on YouTube

Johanna Voolich Chief Product Officer, YouTube says, "We believe AI will unlock new forms of expression for creators, and that it should put its power to work for you and your creative vision," (Image: Unsplash)

YouTube began its foray into gaming in 2023, offering Playables to YouTube Premium subscribers and marking YouTube’s push into gaming.

We are paranoid as well as excited about AI: Nazara Technologies’ Nitish Mittersain

Nazara is looking at automating product testing through AI stress testing.

Leading gaming, esports and ad tech player, Nazara Technologies has a task force internally that is focusing on many innovative ways of using AI.

Ad tech contributes 9% to Nazara Technologies revenues in FY24

The CEO and joint MD added, "This year, we have arisen successfully between the parent entity and our subsidiaries INR 950 crores of equity capital marking our largest fundraise to date and resulting in a net cash balance of approximately INR 1,450 crores. We took many key initiatives this year."

The company also recently acquired UTP, a casual card game, and NODWIN Gaming has acquired Comic Con India, which is a popular youth IP. In 2024, Nitish Mittersain, CEO and joint MD, said they have taken significant steps to lay a foundation for accelerated growth in coming years.

PokerBaazi unveils Baazi Millions tournament

The tournament will begin on 1st June and will conclude on 9th June. It offers a guaranteed payout of Rs 10 lac each to the top 25 rank holders.

The poker platform in its first edition of Baazi Millions will initiate a fixed pay-out structure for the top 200 rank holders. The top 25 rankers will bag a million each.