Indian game company nCore has received a $10 million investment from a new funding round. nCore will use this funding for new Web3 games. It is home to several game studios, including nCore Games, Studio nCore, Dot9 Games, and IceSpice. The company’s portfolio includes the multiplayer action game Fau-G and Pro Cricket Mobile, which has collected tens of millions of downloads.
Two high-profile investors led the investment round in the crypto space, Animoca Brands and Galaxy Interactive. Polygon and Hyperedge Capital were also among the investors in the round. In addition, many angel investors took their place in the financing round.
nCore Games plans to launch and invest in more games this year. But more primarily, the company plans to expand into the metaverse. nCore Games is considering launching its own NFTs and tokens, which is likely to happen in the next few months.
India is one of the largest mobile game markets in the world by downloads. Before PUBG Mobile was banned by New Delhi, it had amassed over 50 million monthly active users in India. On the other hand, India is still a market that needs to be developed when considering ad revenues and in-app purchases.
Sam Englebardt, General Partner of Galaxy Interactive, said:
“The growth of gaming in India is already undeniable and the market is poised to take another huge leap forward.”
Regarding the investment they received, nCore CEO Dayanidhi MG added:
“We are excited to embrace the emerging trends and technologies in the company of global leaders and highly successful funds, companies, and veterans to take nCore to the next level with exponential growth.”
According to many reviewers, the Web3 system is also starting to show growth in India. There is a very high player potential in the region. If the advantages of the Web3 and play-to-earn world can overcome the problem of low purchasing power in the area, it may even become a new profession. Regarding the issue, the studies of investor, publisher, and developer companies in the region continue.