Why IndiGG is vital to the growth of the market

Different from the previous selection direction, the latest IE0 project of FTX comes from the Chain Tour Association track.

IndiGG is an Indian subDAO under the largest chain game association, Yield Guild Games (YGG). Founded in January this year, IndiGG has acquired joint ventures from Sequoia Capital India, Animoca Brands, Jump Capital, hedge fund billionaire Alan Howard and Reddit. With the support of more than ten VCs and individual investors including Alexis Ohanian, the financing scale has reached 6 million US dollars.

As a new project, why did IndiGG win the favor of a large number of capital at the beginning of its establishment, and what market development potential does it have behind it?

Rooted in active investment and gaming markets

IndiGG is rooted in the Indian market, and India, as an active region in the cryptocurrency market, has a large investment group.

According to CoinSwitch data, as of August last year, more than 65% of bank users in India would choose cryptocurrencies as their first choice for investment, and the average age of cryptocurrency investors in the country was only 24 years old. Globally, more than 15 million individual cryptocurrency investors come from India.

More importantly, the Indian gaming market is showing strong growth momentum. Data shows that the number of gamers in India has increased from 250 million to 400 million, of which 100 million are paying users who have paid for game props or the application itself.

The number of game developers in India has also risen in line with player demand. Data shows that in 2015, there were only 25 game studios in India, and by 2021, it will soar to more than 500, an increase of 20 times.

The strong growth momentum will drive the economic scale of the Indian game market to reach US$2.2 billion in 2021. Relevant forecasts believe that the country's future compound annual growth rate will be about 30%, and the game economy may reach US$3.9 billion in 2025.

Backed by Web3 leaders and traditional game companies

At present, IndiGG has been supported by the largest chain game association YGG, the star expansion project Polygon, and traditional game companies. The three will provide them with technical and service support in project operation, user experience, game architecture, market connection, etc. respectively.

Yield Guild Games (YGG) is the world's largest game incubator with more than 15,000 players and more than $250 million in capital. Last year, it received $1.3 million from Delphi Digital and other institutions, and its current valuation is 2.5 billion. Dollar.

According to YGG, the guild will fully support the development of IndiGG in the Indian market, share its operational experience in DAO, and help IndiGG realize its mission of bringing Web3 to the Indian game market more quickly.

Polygon is an Ethereum expansion project that provides AWS solutions for the blockchain, with more than 2 million monthly active users. According to reports, through cooperation with Polygon Studios, IndiGG can enable Indian players to enter the GameFi ecosystem faster, and experience the fun of chain games in Zed Run, Skyweaver, Decentraland and other ecosystems.

In terms of cooperation with traditional game companies, IndiGG has been blessed by many large Indian game and entertainment companies, including Nazaara (listed company in India), Mobile Premiere League (live competitive gaming platform), Hungama (a music and video provider invested by Xiaomi) , plans to venture into the NFT space in the near future) and Winzo (a social gaming platform).

The first-scale cooperation map

In addition to having a large number of partners, IndiGG itself is also constantly building, trying to connect more chain game projects for DAO members.

Chain Tour

Officially, IndiGG has cooperated with several games including Axie Infinity, Pegaxy, Fancy Birds, Cyball, Wonderhero, Synesis One, Epiko Regal, and plans to further expand cooperation projects in the future.

Epilogue

India's active crypto investment environment and maturing game industry provide external support for IndiGG to expand the chain game market locally, and as it integrates deeply with the country's growing traditional game studios, both IndiGG itself and India as a whole The game market will benefit from the boom in the chain game market.

At the same time, IndiGG gathered resources in various aspects such as capital, technology, and operation in the early stage of its birth, which provided strong support for its later expansion of the market and improvement of competitiveness.

As IndiGG promotes the development of India in the field of chain games and attracts more traditional gamers to enter the blockchain game, the entire cryptocurrency market will expand accordingly, and other segments will have the opportunity to capture more value.