” Recognition from the government has guaranteed a bright future for Esports and fantasy Esports in India, ” feels Richa Singh, Founder & CEO, FanClash: Esports has made noticeable progress over the last few years, rapidly gaining popularity among young enthusiasts. Another thing that has stood out in recent months is the emergence of Fantasy Esports which educates as well as provides in-depth data about the gaming industry. One of the largest fantasy esports platforms, FanClash has certainly made its presence count in the region, and InsideSport exclusively caught up with Richa Singh, Founder & CEO of FanClash to have a chat on various things happening all over the world. For future updates on Gaming and Esports, follow InsideSport.IN
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Here are the excerpts from the interview.
Question: How have things changed after the Indian Esports industry got the government’s official recognition?
Ans: The Indian government’s historic decision has certainly brought about a fundamental change regarding how the people of the country perceive the Esports and gaming industry. The proposed draft amendments to the IT act for online gaming and the conclaves that MeitY has held to discuss draft rules have been significant milestones that will benefit the online gaming sector.
Apart from that we also have the Union Budget 2023 coming up wherein we hope that regulations and policies will be introduced which will support the growth of the industry to minimize risks of fraud, protect the rights of gamers and promote fair competition. The AVCG task force set up by the government is also driving the ‘Create in India’ mission for the video gaming industry and has suggested degree courses in gaming that will help educate the upcoming generation about the sector.
The official recognition is undoubtedly a remarkable step that will help reduce the gaming stigma. Going ahead we also expect a revamp in the infrastructure with training centers, funding, and programs that will revolutionize the country’s gaming ecosystem and boost its growth. These changes will not only change the lives of gamers, Esports athletes, and content creators but also of the game developers, publishers, and everyone closely associated with the industry.
Question: According to you, what is the Role of Fantasy Esports in the gaming ecosystem, and share with us a few ways in which it can help the industry thrive?
Ans: Fantasy has become a global phenomenon that has taken the traditional sports industry by storm. While we have seen its meteoric rise in the worldwide markets, it is edging closer to unleashing its full potential in the Indian gaming market. The Esports industry in India is taking a similar trajectory to traditional sports creating room for this vertical as well. FanClash has emerged as a vital aspect that is propelling its growth. Esports enthusiasts can utilize their wide array of substantial knowledge about the sector and monetize it through the fantasy platform.
With insightful statistics about Esports tournaments, teams, and players across dominant titles such as BGMI, Valorant, DOTA 2, CS:GO, Call of Duty, and much more available on FanClash, it serves as an excellent medium to educate users and provide them with in-depth data about the industry. As it attracts more users through its appealing features, monetizing benefits, easy-to-operate technology, and other unique aspects, fantasy Esports creates an ecosystem that helps people capitalize on their understanding of the gaming industry. FanClash aims to be a global leading brand in esports fantasy.
Question: Fanclash is currently hosting the CS:GO tournament featuring some of the famous Esports orgs of India. Can we see more such events shortly?
FanClash has always been vocal about restoring the glory of traditional Esports titles such as CS:GO and DOTA 2. We want to make the necessary efforts to help these titles thrive in the current gaming ecosystem and establish their place as the major gaming titles in the country. Our latest partnership with AMD Skyesports Championship 4.0 as well as our own CS:GO Reignite IP were concrete steps taken to fulfill our aim which received an overwhelming response from the entire community.
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Moreover, for every tournament that we organize, users also attain the exclusive perk of getting involved in these tournaments by creating their teams on our fantasy platforms. The overall success of these tournaments has given us the impetus to organize more tournaments featuring gaming titles from the past where top teams from the country will be participating and FanClash will also be involved to provide fans with unmissable gaming action.
Question: How has the presence of women in leadership roles translated into a more diverse array of gaming products that the market will benefit from?
Ans: There is a widespread stereotype that gaming is a hobby that is primarily for men, which can discourage women from pursuing careers in the industry or make them feel unwelcome.
Due to this very fact, the gaming industry hasn’t seen many women leaders let alone entrepreneurs of startups but fortunately, that is changing for the good now. Unlike earlier times, we now have exceptionally talented women holding leadership, managerial, and executive positions at thriving companies within the industry that have proved to be an inspiration for others that seek to make their place here. Having women leaders creates a more inclusive and diverse environment, leading to better creativity and innovation.
As a wider range of markets and audiences are tapped due to this, it boosts productivity as well as profits. So along with motivating women to take up this field as a viable career choice, promoting them to deserving positions translates into a beneficial prospect for the gaming market as a whole.
Question: What are your thoughts on Start-up culture boosting the Indian esports and gaming ecosystem – elevating it to an unprecedented level to establish your presence in the global market?
Answer: India withholds limitless potential in terms of gaming startups that can transform the industry with their innovative, next-gen products. Investors and big corporations have also taken note of the lucrative prospects and invested heavily in them. Investment banking platform Maple Capital Advisors’ report states that gaming start-ups in India have attracted $1.6 billion in nine months till 30th September 2021, exceeding the total value of investments in the sector in the past five years. The industry has witnessed the rise of a lot of promising startups in the last few years that have turned out to be game changers for the ecosystem.
Companies like ours are capitalizing on untapped spaces with their promising projects and hitting it out of the ballpark. JetSynthesys, Nazara Technologies, and many other startups have all been flourishing in the industry with their unique IPs. Currently, FanClash is Asia’s largest fantasy Esports platform that hosts more than 5000 tournaments daily and is on course to put India’s name on the world map by establishing its name in the global market as the leading fantasy platform for multiple Esports titles.
Our ever-growing user base has accumulated upwards of 2 million users, boosting the company’s heavy involvement in the Indian Esports industry and its efforts of creating a sustainable ecosystem for fantasy Esports to prosper through numerous avenues. The startup ecosystem in the Indian gaming industry being on the upward trajectory is going to propel the revenues and growth of the sector.
Question: What is the future of eSports and Fantasy eSports in the coming months and years?
Ans: The official recognition from the government has guaranteed a bright future for Esports and fantasy Esports in the country. Estimated to be valued at $930 million, the Indian gaming industry is projected to hit the $3.7 billion mark by 2024 as per the Maple Capital Advisors report. The upcoming months are going to witness historic decisions for the very first time from the government, a massive upsurge in Esports tournaments, and a large number of high-profile brands and big corporates entering the industry.
The AVCG task force and MeitY will also bring about immense improvements in infrastructure while also spreading awareness about the industry among the general population by introducing educational degrees and courses on gaming. This is going to be revolutionary for the sector as upon realizing the immense potential of the industry, a huge chunk of the population is going to end up making video gaming a mainstream sport. The prominent developments in the Esports industry are going to boost the fantasy Esports sector’s growth and help it gain more traction. Similar to fantasy sports, fantasy Esports will also be expanding its branches all over the country and making its presence felt within the industry.
Question: How do you look to bridge the gap between Audience and eSports platforms so that it can be a win-win for both parties?
Ans: Esports fanatics spend multiple hours watching different esports tournaments, FanClash provides a platform to monetize their passion and love for the same. It provides fans with the opportunity to create fantasy teams from top tournaments and earn rewards based on the real-life performance of these teams, FanClash is revolutionizing the way esports fans engage with their favorite games
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