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Web3 adoption is growing in India as the technology world continues to evolve. Web3, the third generation internet, is an open-source platform with decentralization that allows for the creation of communities and new digital economies.
Some of the most innovative firms in the Web3 Gaming space have already made headlines for their pioneering efforts in building the community within the Web3 gaming ecosystem. Trinity Gaming, IndiGG, and Yudiz Solutions are some of the most prominent players.
Kratos Studios is a Bangalore-based Web3 gaming venture that recently raised INR 160 Cro at a value of INR 1200 Cre to acquire IndiGG. This community of blockchain-based gamers is building distribution lines in emerging markets to distribute global Web3 games.
Manish, founder of IndiGG DAO highlighted the need for skilled gamers in the thriving virtual Web3 gaming industry. He said that “We are giving the 500M+ South Asian gamers an opportunity to leverage time and skill to create digital goods on the Blockchain for global games.” This will allow South Asia to become a digital goods factory in the gaming industry.
Web3’s greatest advantage is its ability to create communities. IndiGG does exactly this. They bring together thousands of gamers and give them access to over 5k web3 games. This allows for a more engaging gaming experience and builds a strong community.
Yudiz Solutions Limited, an Ahmedabad-based blockchain, AI, and game development company, is making great strides in Web3 space. Their focus is on games that incorporate blockchain technology, which will open up new avenues for player engagement and monetization.
Recently, the company filed draft papers to IPO. This will make them the first publicly enlisted company with a combined presence within blockchain, AI, and game development. It will be the second company in the gaming sector in the country after Nazara Technologies Ltd.
Bharat Ptel, Chairman, Yudiz Solutions stated that Web3 gaming is an exciting opportunity for individuals and businesses. We can help shape the future of the industry and position ourselves as major players in the global gaming marketplace by entering this space early.
Trinity Gaming India is a Delhi-based entity that drives Web3 adoption in India. It aims to support Web3 business in India worth USD 10 millions. The brand has established key partnerships with international entities in order to offer influencers and creators the opportunity to work alongside international businesses and brands in the web3 space. They are also working to educate Indian gamers about the benefits of Web3 as well as how it can help build communities. They have recently partnered up with Emchain FZE, and they plan to work with Everdome in order to create a virtual community within the Web3 space.
Shivam Rao is the founder and COO of Trinity Gaming India. He commented on the new ways in which content can be created and promoted by brands in the Web3 area, saying that “The Web3 market offers new and exciting opportunities for companies and their audiences to engage with them.” Brands can create immersive experiences and build long-term customer relationships by incorporating blockchain technology.
India’s gaming market will grow from USD 2.5 bn in 2022, to USD 8.6 billion by 2027. There are more than 900 Indian gaming businesses by 2022. Web3 gaming in India is growing in popularity thanks to its decentralized and democratic approach. 32 deals have led to Indian Web3 gaming companies raising USD 625.55 million in 2022. Web3 gaming’s cutting-edge technology allows thousands of gamers to access nearly 1000 games and personalize their experiences. They can also set the rules and reward system for how they interact with the game, as well as build and customize virtual worlds.
