nCore Games, one of India’s leading game publishers has received an investment of $10 million. According to reports, the companies that are part of the investment are Animoca Brands, Galaxy Interactive, Polygon, and Hyperedge Capital. All these companies are currently disrupting the crypto and NFT industry with their out-of-the-box ideas. So, it is no surprise they are investing in a firm that has made its ambition clear to be a leader in web3 i.e. an idea for a new iteration of the World Wide Web based on blockchains, which incorporates concepts including decentralization and token-based economics.
Names of the investors that have come up include Amitabh Singhal, Sandeep Nailwal, Kanwaljit Bombra, Sohil Chand, Ashish Chand, Ram Madhvani, Rakesh Kaul, Mannan Adenwala, Sanjay Narang, Taj Haslani, Kristian Segerstrale, Sanjay Gondal, Vedant Baali, Kartik Prabhakara, Peter Leung, Yashraj Akashi, and Akshay Chaturvedi.
nCore games to start its journey in the Play To Earn segment
nCore games came into the limelight in 2020 when it announced that it has been working on a new mobile game called FAU-G. The game was announced in the aftermath of the PUBG Mobile ban in India. The company co-founded by Vishal Gondal is a leading name in the Indian game industry. Gondal is a veteran in the industry, he sold his previous company Indiagames to Disney and then co-founded nCore with Dayanidhi MG. He states that the gaming industry is going through a shift in its economic model.
According to Gondal, games in developing markets like India rely on advertisements to generate revenue. He goes on to draw parallels between India, Indonesia, and the Philippines and says that web3 offerings that have made inroads in several categories and in many markets will prove popular with gaming in India. The industry pro also cited the example of Axie Infinity, an NFT based online game that has around 2 million active users.
In a statement, Yat Siu, the executive chairman and co-founder of Animoca Brands said, “nCORE Games has the right team to leverage blockchain and NFTs in games to deliver digital property rights to players, and we look forward to many successful products as we move toward a global open metaverse.”
The gaming industry in India has become huge in the last couple of years and it is continuing to grow at a rapid pace. It can be said with certainty that nCore is going to have an upper hand by creating groundbreaking products which will help the industry in taking a great leap forward. Additionally, this investment will mean that nCore will be creating more IPs focusing on the cultural dynamics of India which is a really exciting thing for gamers in the country.
What are your thoughts about nCore Games receiving an investment of $10 million? Let us know in the comments below!