Paytm First Games reveals Rs 10 Crore fund to support Indian game devs and studios
- India Today Gaming
- October 07, 2020 (UPDATED: October 12, 2020 14:58 IST)
Paytm First Games also noted that it will also help game developers with technology solutions and promotions. Let's check out more details around this fund here.
Mobile gaming platform of digital payments giant Paytm; the Paytm First Games has just announced a new fund in India. As per the announcement, Paytm First Games has set aside a sum of Rs 10 Crores. The company will use this fund to help out Indian game developers and design studios. The company also noted that it will also help game developers with technology solutions and promotions. Digging deeper into the promotion aspect, Paytm First Games will advertise the games on its app. In addition, the company has also announced that it will invest about Rs 300 Crores in the 2020-21 fiscal year. This sum will largely focus on fantasy sports and online gaming markets. Let's check out more details around this fund here.
Paytm First Games investment details
Looking closely at the announcement, the company revealed that it will organize a number of events including hackathons. Paytm First Games aims to discover talented developers across the country and then curate their games. But, the company has not shared how the allocation of the fund will happen. As per a report online, the company notes that it will promote games that highlight “Indian culture and folk tales”. We are unsure how that will work in practice as promoting game development should not come with conditions. This announcement comes right after Paytm apparently launched its “app store”.
Sudhanshu Gupta, the COO for Paytm First Games also issued a statement while announcing the fund. Gupta added, “Being a homegrown company we want to play our part in enabling India's gaming ecosystem. Our goal is to support over 200 talented developers, who may not have access to resources comparable to that of big studios.” Taking a closer look, the total sum of the fund and the number of developers seems confusing. We say confusing because making a good quality it resource intensive.
For some context, Paytm First Games recently signed up Sachin Tendulkar as its brand ambassador. The company is likely aiming at the fantasy sports market with this endorsement. Considering the lack of information online about the finer details of the fund, we will have to wait and watch. In the meantime, all eyes are on the apparent Paytm “App Store” and more.