gaming – Page 8 – storyboard18

Nazara Technologies raises Rs 900 crore in strategic fundraise, boosts stake in Absolute Sports

ReelSaga targets India's mobile-first youth with short, serialized video series. The app will offer bite-sized entertainment, with episodes lasting one to two minutes, and monetize through per-episode microtransactions and subscription options for high-spending users.

The Mumbai-based gaming and media firm secures significant investment to enhance growth and expand its portfolio in the gaming and sports media sectors.

EXCLUSIVE: Now ONDC to boost Real Money Gaming industry

ONDC was launched in 2021 by the Modi government to democratise the e-commerce sector in the country

The unicorns that have signed Letter of Intent (LoI) to partner with ONDC include likes of Zerodha, EaseMyTrip, Pristyn Care, Cars24, Physics Wallah, PolicyBazaar, OfBusiness, Livspace and GlobalBees.

‘Not hyping to raise funds, investors are not dumb,’ says SuperGaming Founder

According to Tracxn, SuperGaming has raised a total of $6.8 million over three rounds, with the first round of funding on November 12, 2019.

The Pune-based gaming studio is backed by investors including Bandai Namco, Akatsuki Entertainment Technology Fund, Skycatcher, BAce Capital, and Dream Incubator.

DGGI investigating 658 gambling companies, reports Rs 82k crore tax evasion by online ‘gaming’ companies

Haryana cracks down on gambling

Meanwhile, the GST department has collected Rs 2,675 crore from 574 offshore entities offering digital services to Indian entities in FY24.

All the big breaks and exclusives only on Storyboard18

(Image source: Unsplash)

A round-up of some key exclusives and top breaks by Storyboard18’s team of wired reporters. Don’t miss a beat, follow us for more.

Microsoft lays off 650 Xbox employees; cites cost cutting, integration efforts

In May, Xbox decided to shutter four studios acquired as part of its $7.5 billion purchase of ZeniMax

This would be the third layoff cycle of this year after Microsoft’s Xbox unit cut 1,900 jobs in January, mostly from Activision units and studios.

Tamil Nadu examining Australia-like gaming policy, video game industry tight-lipped

TNOGA Chairman Mohammed Nasimuddin stated that preliminary survey analysis suggests that about 20 percent of students in the state are addicted to online games.

During one of the consultative processes, the Tamil Nadu government clarified that they do not differentiate between the video game and RMG industries.

Breaking: Tamil Nadu takes strong stand against online gaming, RMG players left red faced

At the previous hearing, the petitioners urged the court to declare certain sections of the Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Act of 2022 unconstitutional.

N Muruganandam, Chief Secretary of Tamil Nadu government hinted towards banning certain games and said that the addiction to online gaming among children has grown leading to harmful effects.

Breaking: RMG sector ignored, GST council shuns agenda after multiple requests

Despite multiple requests from the sector, the Indian government has ignored the sector since past two years.

It should be noted that in its 50th meeting held in July 2023, the GST council decided to levy 28 per cent tax — the highest slab — on the full face value of online gaming

EXCLUSIVE: PKL promoting offshore betting, gambling firms; RMG players complain to MIB

Parimatch is one of the notorious illegal betting and gambling platform operating in India.

The letter which is with Storyboard18 states that illegal betting and gambling platforms are conducting surrogate advertising by sponsoring PKL and participating teams.