We see great potential in the e-sports category with increased smartphone penetration, ease of secure payments and instant withdrawal of winnings, said Ankur Singh, CEO & Founder of Witzeal Technologies.
In a conversation with BW Gaming World, Singh also talked about Witzeal Technologies, a shift in the gaming industry due to the COVID-19 pandemic, revenue generation and more.
How is Witzeal Technologies making a difference in the gaming industry?
Ans- Witzeal is a new age gaming technology company and we specialise in creating and introducing futuristic games and features in the real money gaming (RMG) segment. Our multi-gaming platform “Big Cash” offers 17 skill-based real money games (RMG) in Cards, Fantasy, and Casual segments, all developed in-house. Besides, we recently also introduced its kind, video chat feature for live Indian gamers. The feature allows Indian gamers to interact and participate in games through live video.
Establishing trends in the Real Money Gaming (RMG) segment with its wide range of games, Witzeal has been working tirelessly to become a leading force in the gaming industry. The players can connect with the opponents or any other players on the app with whom they can create their own private table and can schedule the private game as per their convenience at our platform.
Q. As Esports become mainstream, do you think there is a large scope for Indian gamers to generate revenue?
Ans- Esports has successfully evolved in the Indian market. The segment is expected to reach Rs 155 billion by 2023 at a CAGR of 27 per cent to become the third-largest segment of the Indian M&E sector as per the EY report. We see great potential in the e-sports category with increased smartphone penetration, ease of secure payments and instant withdrawal of winnings. The pandemic has pushed the gaming sector further up ahead as we saw a positive shift in media and entertainment consumption trends.
Q. Tell us about Big Cash, what is it?
Ans- Our flagship multi-gaming platform “Big Cash” was established in 2017. The platform offers 17 skill-based real money games (RMG) in Cards, Fantasy, and Casual segments, all developed in-house. With this platform, we aim to provide an unparalleled gaming experience for our users across the globe. We also recently also introduced its kind, video chat feature for live Indian gamers. The feature allows Indian gamers to interact and participate in games through live video.
Q. What are the major changes you have witnessed in the gaming industry after the COVID-19 pandemic?
Ans- The covid-19 pandemic has been the tipping point for the online gaming industry in India. In India, the industry grew at a CAGR of 21 per cent during the lockdown, with a steadily increasing customer base. As a result of people staying at home and working from home during the lockdown, there has been an overall rise in web and media consumption. This resulted in a significant need for multiplayer games with a social component. Higher monetisation for casual games stemmed from an increase in digital transactions, which was combined with an increase in gaming consumption.
As a result, the online gaming industry is on a significant growth trajectory across both user and monetisation metrics. Gaming in India is today considered an attractive sector for investments, given strong customer traction & compelling unit economics; Propelling as a mode of Entertainment & on the back of RMG.
Q. Do you think it’s high time people should take gaming as a career option?
Ans- Absolutely. Gaming today is gradually becoming recognised as a noble profession. During the past year, techies have turned their hobby into a full-time job as a result of lockdowns and social distancing. A professional gamer who has signed up with an e-sports organisation can now earn between Rs 5000 and Rs 45000 per month. The gaming sector fosters growth and heightens a variety of skills, including communication, teamwork, cognition, time management, and so on. Gaming also aids in the development of multitasking and analytical abilities. These ideas are supported by a number of studies.
Also, the high penetration of smartphones, internet connectivity in every corner of the nation is making people enthusiastic towards gaming where they can utilise their time using their skills also earn at the same time. Hence, the AAA factor (Anytime Anywhere Anyone) is a booster for mobile gaming.
Q. Where do you see growth and trends in the mobile gaming industry?
Ans-The interest in mobile gaming has grown exponentially. In a study by Nielsen, in India, at the end of 2020, the mobile gaming market was valued at $1.2 billion and is expected to reach $1.6 billion by 2025. Mobile gamers now outweigh PC and console gamers, with only 12 per cent of Indians using consoles compared to 67 per cent who use a smartphone or tablet.
The affordability of mobiles in comparison to consoles and PCs, as well as strong internet penetration rates and an ever-expanding choice of mobile games, have all contributed to this surge in mobile gaming. The adoption of future technologies such as Augmented Reality/Virtual Reality/Mixed Reality (AR/ VR/MR), 360-degree video, and 5G is another catalyst for the mobile gaming industry to grow. The introduction of 5G will drive the mobile gaming sector to new heights. It would not only improve the speed of mobile internet, but it will also assist to minimise congestion to a considerable extent.
Q. What can we expect from your company in future?
Ans- While technology in the gaming sector continues to grow, we believe innovation and personalisation of experiences are the game-changers. We are aiming to introduce these into our platforms to give our players a holistic gaming experience. We are living in a world with diverse cultures, languages, geographies, etc, and gaming is a language that everyone knows and enjoys. Our aim is to connect billions of players globally, all speaking the most loved language of gaming.