Ushering in a groundbreaking era for esports, String Metaverse, a gaming startup, is capturing global attention. Following the resounding success of its String Esports Valorant Tournament, which featured diverse international participation, the company now elevated the stakes with the Krafton’s Battlegrounds Mobile India (BGMI) tournament. The event concluded on December 7, and was revolutionising digital entertainment, going beyond mere competition to symbolise a significant stride in the esports domain. Enthusiasts from around the world were invited to experience this gaming phenomenon live on the String Esports YouTube channel.
The tournament, symbolising String Metaverse’s strategic entry into the Indian gaming market, had over 300 teams and 1,300 players nationwide, showcasing a prize pool of Rs. 1,00,000 and highlighting the immense talent within the esports community. String Esports is set to host the biggest online tournament in Europe for Activision Blizzard’s newest game, Call of Duty: Modern Warfare 3, featuring the participation of both professional and aspiring players.
Timed with the burgeoning growth of the Indian gaming industry, valued at $3.1 billion and projected to reach $7.5 billion by FY28, the ongoing BGMI tournament resonates deeply with India’s 40 million registered players and 16 million daily active users.
String Metaverse CEO Santosh Alturu remarked, “The inception of our landmark BGMI tournament is more than just launching a competition; it’s about pioneering a transformative wave in the esports landscape. This event is a strategic catalyst in our expansion narrative, symbolising our commitment to nurturing the Indian gaming community and establishing a formidable presence in the global esports arena. We’re thrilled to offer this platform not only to showcase incredible talent but also to illuminate the potential of gaming as a viable career path for aspiring esports professionals in India and beyond.”
The global gaming market, poised to reach $13.84 billion in 2023, demonstrates an impressive annual growth rate of 42.29 per cent, with projections reaching up to $163.40 billion by 2030. Within this dynamic market, the esports segment, valued at $1.38 billion in 2022, is anticipated to grow to $5.48 billion by 2030.