Pixel P&L: Nazara’s ₹196 Crore Investment Blitz

Good morning. It’s Wednesday, December 4. Nazara Technologies is back in the spotlight. Fresh off raising INR 855 crore ($100 million) through a preferential issue, the gaming giant is on an investment spree. In today’s Pixel P&L, we uncover where the money is going.

Plus, iQOO’s game-changing deal with 8bit Creatives, a shocking report on how gamers spend their time, the Esports World Cup 2025’s newest title, and the Asian Esports Games 2024’s record-breaking viewership. Stay tuned.

Shares of Nazara Technologies rose 3.7% on Tuesday, reaching an intraday high of ₹1,047.85 on the Bombay Stock Exchange, after the company’s board approved ₹196 crore in investments to expand its gaming and entertainment portfolio.

The company announced a ₹43.7 crore acquisition of a 60% stake in Funky Monkeys Play Centers, which operates 11 indoor play centers across India. The move marks Nazara’s entry into physical entertainment, with plans to leverage synergies with its digital assets, including Kiddopia. Separately, Nazara invested ₹4.2 crore for a 4.7% stake in AI-driven learning platform Learntube.ai, which caters to over 20 lakh learners with gamified education tools for professional skilling.

Nazara will also spend ₹148 crore to increase its stakes in subsidiaries Nodwin Gaming, Sportskeeda, and Datawrkz. The investments include ₹64 crore for Nodwin to support expansion and enhance intellectual properties, ₹69 crore to acquire full ownership of Sportskeeda, and ₹15 crore to support Datawrkz’s growth. CEO Nitish Mittersain said the investments align with the company’s strategy to expand its footprint across gaming and entertainment verticals.

Smartphone brand iQOO has signed a naming rights sponsorship with 8Bit Creatives, India’s leading gaming and esports talent agency, in what is described as the largest deal of its kind in Indian gaming. Under the agreement, iQOO will sponsor three esports teams represented by 8Bit Creatives: 8bit Esports, Reckoning Esports, and Revenant Xspark.

The deal builds on iQOO’s existing association with Team iQOO Soul, extending its footprint in India’s esports scene. Animesh Agarwal, founder of 8Bit Creatives, said the sponsorship strengthens ties between brands and esports teams while showcasing growing confidence in the sector’s commercial potential.

Gamers Spend More Time Watching Gaming Videos Than Playing: Report

According to Midia Research, gamers spend 8.5 hours weekly watching game-related videos on platforms like YouTube and Twitch while only spending 7.4 hours playing them. The report also claims 24% of console/PC players and 48% of "in-game buyers" watch game content monthly, with the latter labeled "high-spending gamers."

Asian Esports Games Draw Over 500,000 Peak Viewers Across Two Titles

The Mobile Legends: Bang Bang (MLBB) tournament was a women-only competition, and it recorded 326,125 peak viewers, the highest for MLBB women’s events in 2024. Meanwhile, the Arena of Valor (AoV) competition peaked at 181,444, ranking as the seventh most-watched AoV event this year.

Street Fighter 6 Returns to Esports World Cup in 2025

The fighting game is the fourth title announced for the 2025 Esports World Cup, joining Call of Duty: Black Ops 6, Call of Duty: Warzone, and Honor of Kings. The event will take place next summer in Riyadh, Saudi Arabia. The tournament’s exact schedule and prize pool remain undisclosed.

ONE Esports CEO Carlos Alimurung Joins GAMURS Group as President

Alimurung will work with CEO Riad Chikhani to drive growth and innovation. GAMURS plans to expand its coverage across gaming and esports industry verticals, according to a LinkedIn announcement.

Stalker 2, the recently released game by Ukrainian studio GSC Game World, has become a surprising target of Russian disinformation campaigns. A bizarre false narrative claims the game secretly helps the Ukrainian government identify conscripts for the ongoing war. Videos circulating on Telegram and shared with journalists allege that Stalker 2 collects detailed player data, including names, locations, and IP addresses, supposedly to assist in mobilization efforts. These claims are baseless, but they reflect broader efforts to spread anti-Ukraine propaganda.

The disinformation includes a doctored video with a fake watermark from tech publication Wired. The video falsely states that GSC Game World struck a deal with Ukraine’s government for game funding in exchange for aiding military efforts. It even recommends boycotting the game or using a VPN to play it.

This is not the first attack on Stalker 2. Since Russia’s invasion of Ukraine in 2022, GSC Game World has faced relentless cyberattacks and threats. Some employees even joined the war effort, with one tragically losing his life in combat. While some of the team relocated to Prague, others remain in Ukraine, continuing development under extraordinary circumstances.