Evolution Of The Gaming And Creators' Economy In India Gone are the days when online gaming was only considered as a way to unwind or spend your free time while sitting at home.
By Kabir Singh Bhandari •
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Gone are the days when online gaming was only considered as a way to unwind or spend your free time while sitting at home. It has undergone a paradigm shift in the past decade, with it no longer remaining a hobby or a fun activity but also, incentivising users for their time spent. With mobiles revolutionising the experience for most users, gaming is one of the world's most popular form of entertainment, allowing people to build a community that transcends borders, religion and age. Gaming is one of the most powerful tools to bring new technology to the masses, and will be the stepping stone for making Web3 and digital revolution an essential part of our lives.
"With the steady rise of internet access in urban and rural areas, the participation from women gamers has also increased, and we can now see many women gamers and creators across the continent with flourishing careers. The gaming sector has the potential to expand multifold in the coming years as more and more people have started seeing it as a viable career option," Supreet Raju, co-founder, OneRare tells us.
At OneRare, Raju and her team have tried to build a unique food game that provides a space for the new generation gamers to experience blockchain in an immersive way while celebrating food from all corners of the world. Their Foodverse brings celebrity chefs, restaurants and food brands to new global markets for the first time, and allows them to expand their opportunities to market and monetise. The idea is to get users become a part of the brand's story and success, instead of just a metric.
Entertainment in itself is no longer restricted to television, OTT and cinema but has moved to our mobile screens. Content creators and gaming platforms are making entertainment more affordable, accessible and bite size. The emergence of new channels of social expression and content creation has democratized media consumption. Short video formats, casual and role play gaming has given birth to new age micro influencers and content creators with their own fans and followers. They have enabled targeted advertising and marketing for the brands driving better conversions at affordable costs.
In this scenario, Kabir Kochhar, founder, Audacity Venture Partners, is backing visionary founders who see a small gap in the market and have the foresight to see it develop into something bigger.
"With innovative content monetization solutions and targeted advertising we are very excited about the transformation this industry is going through. We are investing in Audacious founders to stick their necks out and build in the face of doubt and uncertainty. We are exploring and evaluating opportunities in new age companies that are capitalizing the shift in consumption patterns through robust underlying technology – be it content monetization platforms, AI based video and audio optimization tools for creators, gaming publishers and enablers, contextual ad tech platforms and so on," says Kochhar.
