Kreeda Games, India’s first India’s first dedicated Massive Multiplayer Online Game (MMOG) Operator has received funding from IDG Ventures India and SoftBank (the investment is learnt to be less than $10 million).
The VCs see immense potential in the Indian online gaming market, which, as of January 2007, was pegged at Rs 21 crore by the Internet and Mobile Association of India (IAMAI). Kreeda’s first product, Dance Mela, is to be released by mid-August and it aims to release three games by the year-end. And when the market is ‘ready’, Kreeda plans to introduce more games.
The games are sourced from other countries and localised for mass appeal. Dance Mela has a complete Bollywood soundtrack. Quentin Staes-Polet, the CEO of Kreeda, says that they will have subscribers in “multi-millions’ by next year. A challenge that they have to deal with is the limited internet access in the country.
Planned revenue streams are monthly membership subscriptions, hourly charges, in-game advertising and in-game item sales. The revenue model would depend on each game. Their first game, Dance Mela, is free to sign up and play.
Though the Indian gaming market stands at a minuscule figure of Rs. 21 crore, the industry is supposed to grow manifolds in the next few years.
And players are putting up their best foot forward:
- Zapak has roped in top Bollywood stars like Salman Khan and Bipasha Basu to work with its team to conceptualize a few games in the casual games category.
- Contest2win had developed games for brands like Airtel, Garnier, Pepsi, etc
- Hungama was expected to develop an advergame about Lux and Sugarfree
- Zapak has tie ups with Logitech and Titan Fastrack.
- Zapak’s aim is to create as many as 1,00,000 gaming seats across the country with 50-60 million registered gamers in the next 18-24 months.
- Zapak is expecting a turnover of Rs 40 crore for fiscal 2007-08.
- Indiagames and Sify partner to launch MMORPG games
- FXLabs Studios is developing a PC game based on Yashraj film’s Dhoom II (expected to distribute the game through its network and channel partners, probably around the time of the Dhoom III launch)
- Indiagames has tied up with Microsoft’s Entertainment & Devices Division, and will be e-tailing Microsoft’s gaming console.