With the help from a different segment, each stakeholder in the online gaming industry is endeavoring to assist young entrepreneurs with getting into gaming—subsequently aiding job creation and building a platform to present high-tech solutions in entertainment and online gaming.

Gaming brands trust that the public authorities observe their true potential and create an administrative structure that deals with the issues of all stakeholders in this online gaming developing industry.

Mitesh Gangar, co-founder and director, PlayerzPot, said that the recommended increase in tax from 18% to 28% as GST might upset the ongoing economy of the industry and slow down its development speed by tightening the cash flow. However, the online gaming industry will adjust rapidly to the new tax collection framework.

He went on to say that this move will bring online gaming under the legal system and, as a result, attract investments solely on the basis of its global legitimacy.

Online gaming has seen considerable growth. How do you see this trend in the coming years?
The online gaming industry has shown a worldwide increase in interest during the pandemic. Breaking stereotypes of online gaming as a disengaging hobby, there were users over 60 years of age, other than young gamers, who associated beyond the comforts of their homes from across the world. It is no big surprise that the Indian online gaming industry is projecting a quicker development speed. As indicated by a report by KPMG, the online gaming sector is supposed to increase to 510 million by the end of 2022. As far as revenue, the market is supposed to develop at a CAGR of 21% over the next five years, implying that it will arrive at USD 3.84 billion.

Supporting such development is an extraordinary interest in online gaming, particularly among Gen Z and millennial gamers. A large portion of them is likewise planning their futures as gamers and entrepreneurs in this industry. Recognizing this, the government is also assisting efforts to make Indian online gaming a serious revenue-generating and job-creating sector.

I see the online gaming market growing dramatically in the years ahead, with expanding regional entry and the adoption of trend-setting innovations like NFTs, Blockchains, and 5G web.

How can brands leverage the online gaming industry?
The worldwide online gaming market is set to outperform USD 200 billion in revenue by 2023. The pandemic has assisted individuals to explore and understand the chances of online gaming. Presently, the online gaming industry draws in advertisements due to its user base, which has target audiences for different clients in different ventures.

We see numerous renowned brands using gaming as an engagement channel, including live streaming, sponsorships, and product placements.

As online gaming has given people a strong means to socialize, the industry has become one more source for influencer marketing to flourish. Well-known online gaming influencers with an immense following on their social media channels are effectively sought by brands for endorsements or sponsored content. Innovative progression has even empowered platforms to check to assume that the player is seeing the whole ad.

Similarly, platforms can likewise replay the ads which clients appear to watch ceaselessly. Hence, the ability to sustain audiences is developing at a high speed in this space.

The monetization of gaming is a promising area. How do you see advertising creating an impact for brands through online gaming in India?
If we compare the current online gaming scene to that of even 10 years ago, we can see that the tables have shifted dramatically. Gamers, who battled to fit in, have become influencers. They are increasing the value for future gamers with their content, and brands are using their tremendous base of followers to reach their target groups significantly more.

Both marketing and advertising play significant parts in sustaining a user base in online gaming. It’s vital to convey the right message to users and spread awareness about our administration, new launches, and other relevant information like offers, prizes, contests, and so on, through different advertising channels.

Other than these touchpoints, brands are likewise involving mobile marketing to amuse and hold users in their whole engagement funnel. Using promotions to advertise fantasy and casual games throughout their applications, brands are using mobile marketing to generate revenues and develop a user base.

Which industry tends to benefit more from the rise of online gaming?
Different industries are looking for investment opportunities with the huge user base of online gaming. I think telecom organizations are one of these players benefiting the most. This is because telecom companies analyzed the industry’s capability during the lockdowns and have already begun investing massively.

An excellent network with uninterrupted connectivity is critical for a fantastic gaming experience. Lucrative regions, for example, cloud gaming, turn upon 5G service providers’ having the option to convey low-latency and high-bandwidth capacity associations. As telecom organizations introduce the era of 5G in India, they will use more prominent cell phone entrances and, hence, better openness to hi-res online games across gadgets.

How is data protection ensured in the gaming industry?
India misses the mark on the comprehensive guidelines of online gaming and fantasy sports. This present circumstance leaves players and their information helpless against digital fraud, robbery, and even conditions where platforms freeze suspicious accounts permanently.

In a regulated environment, all organizations should comply with data security regulations while thorough audits ought to be completed for explicit requirements. While brands are now separating abusive and deceitful ways of behaving with advanced data analytics, it is also conceivable to screen login activities and switch gadgets.

Consequently, online gaming platforms, in association with tech organizations and the public authorities, ought to make a fail-proof answer for protecting buyer data and, subsequently, keeping up with purchaser loyalty.

What are the challenges faced by the real-time gaming industry?
One of the significant difficulties faced by real gamers is the accessibility of rapid internet speed and bandwidth. Diminished latency and ping are essential to give users a continuous gaming experience. Today, game developers use top innovation, complex AI, and design elements that require premium equipment, premium programming designs, and a phenomenal network. We are trusting that the 5G network will address a lot of such trouble spots to furnish an expanded best-gaming experience with the best internet connectivity as of now.

How do you see the expansion of blockchain gaming in India?
Gamers have upgraded themselves from single-player video games to multiplayer online games. The next phase of entertainment is blockchain gaming, which empowers a gamer to play continuously and earn money.
Blockchain has been proactively shown to be transparent and reliable in different industries and will be widely involved to create a mutually beneficial situation for developers and gamers.

A high sense of advancement, combined with the use of blockchain innovation, will help developers to imagine, design, and foster unique game points of interaction in light of the explicit interests and preferences of gamers.

What are the biggest challenges for the industry?
The Indian online gaming industry is in its most flourishing phase since the pandemic. Notwithstanding, fantasy gaming and mobile gaming are wrongly associated with pay-to-play. That is a direct result of the deficiency of rules and guidelines that separate pay-to-play from ethical online gaming.

As a result, we must still accept critical steps in terms of legalization and legislative recognition of the online gaming sector. Legalization would remove a lot of uncertainty and stigma connected to this industry.

Credit: Brand Equity