Dream11, a fantasy gaming company, has launched a mobile gaming app called Dream Cricket 24 in beta testing. This app is currently accessible in the app stores of India, Bangladesh, and Pakistan and has limited spots available for beta testers.
Dream Cricket 24 is an immersive cricket game featuring 3D assets, allowing users to create their own teams and play multiplayer formats with friends.
The introduction of this new game coincides with challenges faced by Dream11’s non-fungible token (NFT) venture, Rario, which has struggled to gain traction among traders during the ongoing World Cup series. Additionally, Dream11 recently acquired Sixer, a cricket stocks trading app.
The gaming industry, including Dream11, is contending with recent GST regulations, imposing a 28% tax rate on player deposits, regardless of whether a game is based on chance or skill.
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This decision was expected to deter potential investments amounting to $4 billion over the next few years. Observers and stakeholders in the industry warn that maintaining this taxation system could lead to more significant job losses and users shifting to offshore platforms.
