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Gameskraft is winding down operations of fantasy platform Gamezy

Shutting down Gamezy will not have any impact on its ongoing workforce plans and talent deployment, said the company.

Gameskraft is winding down operations of fantasy platform Gamezy

Monday September 18, 2023 , 2 min Read

Gaming firm Gameskraft is winding down its fantasy gaming platform Gamezy.

The company said it would shift its focus to developing and promoting standalone apps.

"Given the vision with regards to our portfolio, we have made a strategic decision to reassess and temporarily deprioritize our Gamezy super app. We are focussing our efforts on the development and promotion of dedicated single apps, like our newly launched RummyPrime, LudoCulture, and other initiatives," a Gameskraft spokesperson said in a statement, to YourStory.

Shutting down Gamezy will not have any impact on the company's ongoing workforce plan and talent deployment, the spokesperson added.

Recently, Gamezy had been on the radar of tax authorities as it owed nearly Rs 21,000 crore in GST payments, as per media reports.

Gameskraft said the decision to shut down Gamezy is not related to the recent GST regulations for real money gaming companies, which is set to begin from October 1.

Several gaming firms have spoken out against the new regulations, with some saying they may affect jobs.

Gaming firms have already begun facing the heat of the new GST regulations.

In August, real money gaming platform Mobile Premier League (MPL) laid off 350 employees or about 50% of its workforce.

MPL's Co-founder Sai Srinivas cited the new GST regime for gaming companies as one of the reasons for this round of layoffs. Srinivas, in an internal email to all employees, said the 28% tax levied will increase the tax burden on MPL by 350%-400%.


Edited by Affirunisa Kankudti