Decreased margins due to increased GST (being absorbed by the companies) had a ripple-down effect in employee layoffs and a complete pause in hiring specialist skills such as technology, product, animation, and design.
The startup added that it will use the funds to build AAA titles and get top talent for their studios in India and the UK.
Technology has become an essential aspect of education, especially when it comes to digital learning.
Homegrown online gaming platform Mobile Premier League (MPL) is reportedly slashing its workforce by nearly 50 per cent that will impact around 350 jobs, as the 51st GST Council meeting stayed firm on taxing online gaming at 28 per cent on gross value collected.
To strengthen the growth of the Animation, Visual Effects, Gaming, and Comics (AVGC) sector and its ecosystem, the government is considering raising the quantum of incentives offered under the Incentive Scheme for Audio-Visual Co-production and Shooting of Foreign Films in India, said Apurva Chandra, Secretary, Information and Broadcasting.
Sony has been reportedly working on a new video game subscription service codenamed Spartacus is Sony's response to Microsoft Corp's Xbox Game Pass, a kind of Netflix for video games that has more than 25 million subscribers, reports GizmoChina.
At the outset, the ministry noted that in the new era of technology, online gaming was very popular with children because of the challenges it brought to the players which excite them and make them play more which could lead to addiction.
Video-game designers control the players‘ behaviour by providing simple stimulus and reward them at strategic points. Children, especially those with poor impulse control or struggling with studies and not knowing the consequences, are most vulnerable to fall prey to their evil charm
The company is aiming to solve problems like unresponsiveness, lagging and dropped frame rate on ColorOS 7.
The family entertainment company revealed that its games have now been downloaded over 9 billion times in total and up to 350 million fans play with them every month.
