Paytm First Games, the gaming venture of Indian digital payments giant Paytm, has decided to invest INR 300 crore for growing its base in the fantasy sports market and other online gaming events.
The funds will be invested during this financial year to expand its market share in the fantasy sports sector and also organise gaming tournaments.
Paytm First Games has been investing heavily in the lucrative fantasy sports gaming market and has recently signed former Indian cricket team star Sachin Tendulkar as its brand ambassador.
Other than fantasy cricket, Sachin Tendulkar will also help promote and generate interest around other sports including kabaddi, football, and basketball.
In September, Paytm First Games also launched a new marketing campaign called ‘Make the Right Choice’ with an advertisement that features Sachin Tendulkar.
Apart from the INR 300 crore for fantasy sports and online gaming, the Noida-based firm will spend INR 10 crore for providing a launchpad to indigenous developers and design studios.
Paytm First Games will use the funds to organise a series of events and hackathons to identify young developers.
“Our goal is to support over 200 talented developers, who may not have access to resources comparable to that of big studios,” said Sudhanshu Gupta, COO Paytm First Games.
“Being a homegrown company we want to play our part in enabling India’s gaming ecosystem.”
The company, which is owned by One97 Communications, aims to aid the developers in making their games more interactive, seamless and well-designed
Paytm First Games will focus on innovative games that revolve around the Indian culture and teach about the rich Indian heritage, mythology, and sporting history.
“We believe it’s the time to lead the digital gaming sector with Made in India games that become a global runaway success,” Gupta asserted.
Paytm First Games was recentlydelisted from the Google Play Storefor violating its real-money and gambling policies. However, it was later restored but users can only join free fantasy contests.