Decreased margins due to increased GST (being absorbed by the companies) had a ripple-down effect in employee layoffs and a complete pause in hiring specialist skills such as technology, product, animation, and design.
The startup added that it will use the funds to build AAA titles and get top talent for their studios in India and the UK.
Technology has become an essential aspect of education, especially when it comes to digital learning.
Homegrown online gaming platform Mobile Premier League (MPL) is reportedly slashing its workforce by nearly 50 per cent that will impact around 350 jobs, as the 51st GST Council meeting stayed firm on taxing online gaming at 28 per cent on gross value collected.
To strengthen the growth of the Animation, Visual Effects, Gaming, and Comics (AVGC) sector and its ecosystem, the government is considering raising the quantum of incentives offered under the Incentive Scheme for Audio-Visual Co-production and Shooting of Foreign Films in India, said Apurva Chandra, Secretary, Information and Broadcasting.
Experts feel the introduction of preventive algorithms in online games should be the main focus of regulatory intervention instead of treating them as sin activities.
India now makes up 50.2 per cent of all gamers in the top 10 Asian countries' list, according to the data provided by market research firm Niko Partners.
Consumer electronics company Razor has unveiled a Nintendo Switch-style Android handheld device for $399.99 that is touted as the world's first 5G gaming device.
Anonymous chat app YikYak was shut down in 2017 after becoming littered with hateful speech ~ but has since returned.
The company has also strengthened its senior leadership team and is working towards on-boarding resourceful talent from various sectors who will help the company reach more such milestones.
