Pubg maker Krafton invests over $100 million in India
Gaming giant Krafton has reportedly already invested $100 million in the Indian market and is preparing to launch many new titles soon.
Overview:
- Sean Hyunil Sohn, CEO of Krafton India, said, "the company also has more in the store for the country, including investments in local startups.”
- Many more games are expected to be released shortly by Krafton, which has spent $100 million in the Indian industry.
One of the world's most well-known video game publishers, Krafton, has said that it has already spent the $100 million pledged to the Indian market two years ago and is preparing to launch several new titles in the South Asian nation. After going public last year, the four-year-old South Korean company garnered notoriety because of the shooting game PlayerUnknown's Battlegrounds (also known as PUBG). PUBG Mobile had more than 50 million monthly active players in India, making it the most popular mobile game in the country until it was included in the list of applications New Delhi ordered to be blocked due to national security concerns.
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Unlike most other companies on the ban list, Battlegrounds Mobile India has been relaunched in India by Krafton. Since its debut in July 2014, the game has had many similarities with PUBG Mobile, while the developer says it has made several improvements to accommodate local issues. Battle royale is a term used by players to describe the kind of last-man-standing action seen in PUBG Mobile and BGMI. Krafton released PUBG: New State in November. To avoid getting into hot water over the complaints over PUBG, the company renamed that new product New State Mobile in January of this year.
CEO Sean Hyunil Sohn of Krafton India told TechCrunch that New State Mobile has grown slower than BGMI, and its retention has worsened. Roughly thirty workers run most of the company's publishing activities in India, where BGMI also maintained that it conforms to local requirements. Additionally, the corporation plans to invest in local start-ups as part of its overall national strategy.
Krafton’s investments in India so far:
$22.5 million in Nodwin Gaming in March 2021, $9 million in Loco in June 2021, $48 million in Pratilipi in July 2021, $6.5 million in Frnd in December 2021, $5.4 million in Nautilus Mobile in February 2022, $7 million in Kuku FM in March 2022 Investment of an undisclosed amount in Lila Games in March 2022
How much has Krafton been able to spend out of its $100 million investment in India announced in 2020?
Despite missing the goal, they've already spent $100 million of the $300 million they had originally budgeted. They're working on two or three agreements they intend to close in August, bringing total investment in the nation to around $140 million. There have been around eight investments in the past year or year. They will continue to invest in gaming, gaming-related, and tech-related firms in the United States.
They may spend an additional $100 million or more in the Indian market by 2022. As a result of the lack of a dedicated account, they are making investments directly from our general ledger in the Indian market. Since our IPO, they've been profitable and now have $2.5 billion in cash. They have a worldwide investment strategy, and India is one area they focus on. However, since India is a rapidly expanding market with various potential sectors, they have a little greater reach in India.
What key aspects do you consider while making an investment decision in India?
The product and the environment in which the firm operates are of utmost importance to the company. They emphasize these three pillars: gaming, gaming-related work, media and entertainment, and digital work. Nodwin and Loco, for example, aren't gaming companies, but they are a part of the gaming ecosystem in general, which they are interested in learning about. Two non-gaming Theybsites, Pratilipi and Kuku FM, are intriguing to customers and host unique material. Nautilus Mobile and Lila Games, two Indian game makers, are among the other firms they've invested in. Indian IPs that can be expanded are also of interest to us.
MANISH GUPTA
They don't simply want to be a video game business. At its core, they're looking for platforms where people can consume content and have fun regardless of whether they're playing games or watching TV. They're working on pilot projects, which aren't precisely games, but rather novel ideas. They have various web3-based metaverse projects that developers may explore with our platform and tools. At this point, it is in its infancy. They must figure out whether these tools best suit seasoned artists or those just getting their creative feet wet. For example, look at games like Minecraft, where the amount of development may be dramatically different. In the future, they may be able to develop it more. Krafton has already disclosed our investment in web3 in India.
Additionally, they're resolving a few minor investments. In addition to India, they've made small investments in web3 in other regions, although they've all been in smaller amounts. They've invested a little money in participating in this experiment and learning more. Including non-traditional gameplay elements (NTEs) in a game does not guarantee that it will be entertaining. Developers should focus on making it fun for players. Our team is eager to watch how new gameplay components emerge, but they're not yet focused on it as our primary priority. It's not enough to develop a decent game using Web3; you also need to know how to use Web3 to produce a better game.
You can also download the Tournafest app from Google Play or App Store to play Esports Tournaments & Scrims games like BGMI, Free Fire MAX, Call of Duty, CS: GO, Valorant, Pokemon Unite & win exciting rewards! You may also organize Tournaments & fetch unmatched perks.
Until next time,
#liveitforgaming
