The Indian-language social gaming platform WinZO Games, which boasts more than 150 million users, is getting ready to begin operations in Brazil and has committed to investing $25 million there.
WinZO will enter the Brazilian market as the gaming industry struggles under the GST Council’s 28% GST on real money gaming.
This growth will significantly increase possibilities for employment while also advancing Brazil’s creator economy and secondary industries like payments and the freelance economy, as reported by livemint.
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“Brazil is a very interesting market. Almost 98% of the local population actually consumes in Portuguese. Brazil is actually where India was in 2017. So they have just recently started Pix, which is similar to UPI phenomena where micro-transactions and payments are getting solved,” Saumya Singh Rathore, co-founder, WinZO Games, told Mint.
The company will also permit its partners to launch their games directly in the freshly created marketplace. It has over 100 game creators as partners and has prominent casual games like carrom, chess, and racing on its online platform. The business has noticed a lot of interest in Ludo during its beta testing, Rathore said.
WinZO’s entry into Brazil aims to build on this cooperation by extending it to the field of technology, the company said. India and Brazil, both BRICS members, have a shared goal of enhancing trade and cooperation among member countries.
With more than 100 million registered users, the platform is available in 12 languages including English, Hindi, Gujarati, Marathi, Bengali, and Bhojpuri. Over 100 games on the WinZO platform are available for over 4 billion micro-transactions each month.
Gryphon Gaming Partners, Kalaari Capital, Makers Fund, Courtside Ventures, co-chairman Steve Pagliuca, Bain Capital, and Boston Celtics co-owners are among the investors.