Connect with us
near-protocol-completes-gaming-ecosystem-by-onboarding-vortex-gaming near-protocol-completes-gaming-ecosystem-by-onboarding-vortex-gaming

Asia

NEAR Protocol Completes Gaming Ecosystem by Onboarding Vortex Gaming

Published

on

Reading Time: 2 minutes

 

NEAR Foundation announced that the onboarding of Vortex Gaming, a Web3 subsidiary of a leading game industry INVEN, into the NEAR ecosystem has been confirmed through a strategic partnership. INVEN is the largest game media community in Korea, with a monthly active user (MAU) count reaching 7.2 million

In addition to onboarding content on NEAR Protocol, NEAR Foundation and INVEN plan to collaborate in supporting the growth of Vortex Gaming and strengthening the NEAR game ecosystem. Moreover, establishing an active collaboration system to enhance brand awareness and business network such as conducting offline hackathons and events to foster developer talent.

INVEN is the largest game media community in Korea. For over 20 years it has served as a leading company in the game industry, driving development as the top online game media platform. Based on content generated in-house, INVEN innovatively continues to expand to industries such as entertainment and Web3.

Vortex Gaming is a content-based game community that builds services optimized for Web3 games and provides a global social media platform and features such as Gaming Guild. Vortex Gaming aims to break stereotypes of current Web3 games by offering specialised content such as thorough analysis of in-game economy and the completeness of the game. By leveraging its successful experience in building Web2 communities, Vortex Gaming plans to establish a robust user base by incorporating both high quality content and INVEN’s existing wide pool of users.

NEAR Protocol is a global Layer 1 blockchain that focuses on usability and scalability. NEAR is also the Blockchain Operating System (BOS), an OS that allows Web2 companies and developers to effortlessly build decentralised apps and experiences for the open web. With BOS features like FastAuth, Web2 companies and developers can experience and onboarding process similar to login via email. These features facilitate the entry barrier present in the current Web3 game industry, and will play a pivotal role alongside Vortex Gaming in popularising the NEAR ecosystem for gaming.

Vortex Gaming CEO HOON JAI LEE said: “The ultimate goal is to build an integrated gamer community that encompasses both Web3 and traditional Web2 gamers by providing high quality Web3 and Web2 content alike.”

LEE added: “Gamers and their communities are the most crucial components of the game ecosystem. In addition to offering game content for gamers and their communities, Vortex Gaming envisions to establish a sustainable cycle by incentivizing gamers’ production of content such as character builds and game guides.”

Marieke Flament, CEO of NEAR Foundation, said: “Following the leading companies in the gaming industry such as Kakao Games, Wemade, Netmarble’s Marblex, we expect our sustainable game ecosystem to be further enhanced through this partnership with INVEN and look forward to making further inroads in this dynamic space.”

Scott Lee, Co-CEO of NEAR Korea, said: “While the strong content competitiveness of leading companies plays a crucial role in attracting many users to the NEAR ecosystem, community is the key driving force in maintaining this competitiveness.”

He added: “The synergy effects resulting from the onboarding of Vortex Gaming will further strengthen NEAR’s position as the optimal mainnet in the Web3 game ecosystem, accelerating ecosystem development.”

Asia

New Indian Law Aims to Curb Online Money Gambling Sector, Prohibits Related Advertising

Published

on

new-indian-law-aims-to-curb-online-money-gambling-sector,-prohibits-related-advertising
Reading Time: 2 minutes

 

Following the passage of the Promotion and Regulation of Online Gaming Bill 2025 on August 21, the government of India imposes a complete ban on online money games, alongside the advertisements related to the sector.

Passed by the parliament, any financial transactions related to these platforms would be considered unlawful as stated under the Information Technology Act of 2000. The legislation also aims to establish a national-level regulatory authority that will govern the categorising and registration of online games.

The said authority shall issue guidelines, codes of practice and directions for compliance, with strict punishments induced, leading to imprisonment for up to three years, and a fine to one crore rupees or 114,017 USD.

The advertisement of the said games is also punishable with similar penalties, with imprisonment up to two years and a fine of up to fifty lakh rupees 1140 USD.

While the law prohibited online money gaming such poker, rummy and fantasy sports that offer cash rewards, e-sports are considered and recognised as a legitimate competitive sport in India, and is not included in the total ban, as well as online social games or casual games that are recreational in nature.

This draws that the bill-turned-law, used a “balanced approach” since recognising that the online gaming sector is one of the most dynamic segments in the digital and creative economy, hence, still allowing esports and online social games.

This came after the report of over 45 crore or 45,000,000 people were reportedly affected by online money games and have lost more than Rs. 20,000 crores or 2,280.414 USD, according to Shri Ashwini Vaishnaw, Union Minister for Electronics and Information Technology.

According to the same ministry, the total ban was driven by the following reasons:

• Addiction and Financial Ruin

• Mental Health and Suicide

• Fraud and Money Laundering

• Threat to National Security

• Closing Legal Loopholes

• Encouraging Healthy Alternatives

Meanwhile, the bill also stated that while the online gaming authority governs the registration of online games, the central government still has the authority to frame the rules for the promotion and advertisement of e-sports, online social games and other rules related under the law.

In total, the legislation aims to safeguard vulnerable populations, particularly the middle class and youth by introducing these strict regulations and a greater emphasis on brand responsibility and ethical advertising.

The post New Indian Law Aims to Curb Online Money Gambling Sector, Prohibits Related Advertising appeared first on European Gaming Industry News.

Continue Reading

Asia

Macao Casino Sector Salaries Hit a 10-year High

Published

on

macao-casino-sector-salaries-hit-a-10-year-high
Reading Time: < 1 minute

 

Salaries in Macao’s gambling industry have climbed to their highest level in a decade, with average earnings for full-time employees increasing 2.4% year-on-year to 27,390 patacas, according to the second quarter survey on manpower needs and wages by the Statistics and Census Service (known by its Portuguese initials DSEC).

Average monthly earnings for resident full-time casino employees were slightly lower – 27,340 patacas per month – but also rose by 2.4%. Since 2023, the average pay for non-resident workers has exceeded that of residents, with non-resident managers now earning an average of 90,000 patacas a month.

DSEC attributed the quarter’s rises “mainly to increases in salaries.”

The number of full-time workers in the gambling sector edged up by 380 over the past year, reaching 52,898 at the end of the second quarter. Most were local directors and managers.

The sector reported 208 job vacancies at the end of June, with clerical roles accounting for more than half. Just under half of the roles required work experience, while 74.1% required only senior secondary education or lower.

Demand for manpower has “gradually stabilised,” DSEC noted, as both the employee turnover rate (1.6%) and recruitment rate (1.1%) dropped year-on-year.

The survey does not cover junket promoters or their associates.

The post Macao Casino Sector Salaries Hit a 10-year High appeared first on European Gaming Industry News.

Continue Reading

Asia

ED Arrests Karnataka MLA Veerendra “Puppy” in Illegal Betting Case

Published

on

ed-arrests-karnataka-mla-veerendra-“puppy”-in-illegal-betting-case
Reading Time: 2 minutes

 

The Indian Enforcement Directorate (ED) has intensified its investigation into Karnataka Congress MLA K.C. Veerendra, also known as “Puppy,” over alleged involvement in a large-scale money laundering and illegal betting operation. The legislator, arrested in Sikkim on Saturday, August 23, was brought to Bengaluru on Sunday for further questioning in connection with financial transactions tied to casinos in Sri Lanka, Nepal and Georgia.

Veerendra was apprehended in Gangtok, where he had reportedly been pursuing a deal to lease land for a casino venture. After his arrest, he was produced before a special court in Bengaluru, which granted ED custody until August 28. To prevent any incidents during his transfer, strict security was enforced at Kempegowda International Airport, and he was quickly escorted to an undisclosed location for interrogation.

Authorities confirmed that multi-state raids preceded the arrest, covering 31 locations across India, including Bengaluru, Hubballi, Chitradurga, Goa, Jodhpur, Mumbai and Sikkim. Five casinos in Goa—Puppy’s Casino Gold, Ocean Rivers Casino, Puppy’s Casino Pride, Ocean 7 Casino, and Big Daddy Casino—were also raided as part of the ongoing probe.

According to ED sources, preliminary findings suggest that Veerendra maintained financial links with casinos and shell companies operating in Sri Lanka, Nepal and Georgia. Evidence gathered during the raids points to overseas transactions and the use of foreign entities to launder large sums of money, some of which may have originated from cyber fraud. Officials suspect that these funds were “converted into white money” by being disguised as credit card transactions.

Documents recovered from multiple properties also revealed that Veerendra was in the process of finalising a deal to acquire a casino from Santiago Martin, a businessman widely recognised as the “lottery king” of Tamil Nadu. Martin is already under investigation by the ED in a separate money laundering case and is known for his financial ties to political figures.

Incriminating evidence seized from Veerendra’s residences, including Rs 12 crore in cash and a significant quantity of jewelry, is now being analysed. The ED has also uncovered records suggesting that his brother, K.C. Thippeswamy, managed three Dubai-based entities—Diamond Softech, TRS Technologies and Prime9Technologies—believed to be connected to their gaming and call centre businesses.

The post ED Arrests Karnataka MLA Veerendra “Puppy” in Illegal Betting Case appeared first on European Gaming Industry News.

Continue Reading

Trending