Hitwicket Bags Funding To Build Strategy-Driven Cricket Gaming Studio
Summary
The gaming platform also said that it is looking to foray into the world of non-fungible tokens (NFTs) and blockchain gaming.It also plans to double down on organising IPL-like initiatives such as online cricket tournaments which could see daylight as soon as 2023. It also plans to create parallel revenue streams by auctioning teams and selling ad spots on the platform.Prime Venture Partners made the investment from its $120 Mn Fund IV. The platform deploys artificial intelligence and data analysis to drive up user engagement, and is available for use on mobile phones and tablets.The Hyderabad-based startup was part of the Google Game Accelerator programme in 2018 and aims to become the first mobile esports intellectual property (IP) in the cricket games category in the country.According to the startup, Hitwicket is played by more than 3 Mn gamers across 100 countries. A breakdown of its user demographics reveals that 17% of the players on the platform are women, with men accounting for the rest.The development comes at a time when the online gaming segment is on a rise in the country. Currently, in the absence of clear regulations, many state governments have been banning various types of games.However, the segment continues to grow on the back of a large youth population, rising disposable income, and inexpensive internet data.According to a KPMG report, the Indian gaming industry is expected to grow 3X in value to $3.9 Bn by 2025.