A brief discussion on the integration of Indian games and Web3 technology

Author: PAROMITA GUPTA; Compiler: Huohuo/Vernacular Blockchain

While gamers care about games and the content they offer, Web3 has the potential to decentralize the space and give everyone an equal opportunity to try their craft.

Piyush Kumar, Founder and CEO, Rooter; Ishank Gupta, IndiGG Council of Elders and Co-Founder, Kratos Studios; Salone Sehgal, Founding General Partner, Lumikai; Bharat Patel, Director, Yudiz Solutions Ltd President and Director; and Kapil Dhiman, CEO of MetaStudios

**India ranks second after China in terms of the number of gamers in the country. **The country has more than 400 gaming companies and a staggering 420 million online gamers. According to Dentsu's report, the number of game players is expected to reach 700 million in 2025, with a compound annual growth rate of 12%.

As we transition from Web2 to Web3, we become more and more aware of owning and monetizing data. While gamers care about the games and the content they offer, Web3 has the potential to decentralize the space and give everyone an equal opportunity to showcase their abilities.

At the Entrepreneur Summit 2023 in New Delhi, India, during a panel discussion titled 'Gaming Has Begun: New Directions and Next Steps for the Gaming Business', panelists discussed the dynamics of the gaming space in India and What it means for Web3 game entrepreneurs. The panel was moderated by Kapil Dhiman, CEO, MetaStudios, and included Bharat Patel, Chairman and Director, Yudiz Solutions Ltd; Piyush Kumar, Founder and CEO, Rooter; Ishank Gupta, IndiGG Elder Council Member and Co-Founder, Kratos Studios; and Lumikai Founding General Partner Salone Sehgal.

1. Make Web3 game technology invisible

While India currently has a large number of gamers, the foundation was laid in the 2000s, when mobile phones became commonplace. The emergence of smartphones has become a major attraction for the younger generation to try games, and the epidemic has further promoted this trend.

"Regarding Web3, we must understand that we need to return to the gaming industry about 6-8 years ago, when gaming rapidly expanded from a niche industry to a $300 million giant industry. ** This is mainly due to the rise of mobile games, which is Because mobile games have crossed various barriers.** It has broken down barriers. You no longer need expensive hardware to play games. The gaming population has also expanded greatly. Women have begun to participate in games on a large scale, and children have begun to play more frequently. Games. And the immersive experience that mobile brings is also fascinating,” shared the founder of Lumikai. In fact, according to a recent report released by Lumikai and AWS, 40% of today's gamers are female, and female gamers spend an average of 11.2 hours per week, compared to 10.2 hours for men. "

"Until the technology layer becomes invisible, and until we can solve these teething problems for the industry, I would say Web3 adoption is farther away than everyone thinks," she added.

2. Decentralized game business

“Historically, in the gaming value chain, games spend money on third-party platforms, and players come to these third-party platforms and spend their time, money and skills. And in return, the people who benefit from that are those platforms. So what we want to do is use blockchain to let people own their data. In a way, when they spend time and skill in these games, they will be rewarded. Those benefits can be transferred back to the games themselves, "IndiGG shared DAO co-founder and custodian Ishank Gupta.

**It's all about the game. **

When discussing Web2 and Web3 technologies, gamers only care about one thing - playing fun games. "Gamers don't care about Web2, Web3; gamers care about having fun in the game." Gupta shared.

Rooter founder and CEO Piyush Kumar agrees: "For us, when we look at Web3 games, we look at it in the next few steps. The game has to gain some traction first and secondly It's easy to use games and people need to be easy to understand it." He believes that Web3 games will start to play an integral role in the next five years and believes that Web3 games are very important to make the Indian games market bigger.

** "For this ecosystem to be successful, we need a lot of games," added Kapil Dhiman, CEO of MetaStudios. **

3. Sufficient talent reserve

India is the world's center for software developers and the backbone of Silicon Valley. Technologists are constantly looking for new things to use, and Web3 is the latest tool. “Talent has been a challenge over the past few years, but with the advent of technology that people are seeing first-hand internationally, I think people have developed skills and reskilling these new skills is now a common thing , we should build an ecosystem starting from the university level.”, shared Bharat Patel, Chairman and Director, **Yudiz Solutions Ltd.

4. Investors’ bets

Although the funding winter continues and Web3 is severely affected, there is still room for Web3 entrepreneurs to build their own products. “Whoever wants to build in this space must have two things: a very unique insight into what they want to build, and an understanding of the lessons and mistakes made by the first generation of (Web3) entrepreneurs A very comprehensive understanding of how to not make the same mistakes**. They,” Sehgal shared about what investors are looking for when investing in Web3 gaming startups.