In the year 2021, about 16 million Indians entered the battlefield every day. He used weapons fiercely against the enemy. The good thing is that it all happened in the virtual world. We are talking about ‘Free Fire’. Free Fire is a gaming app. If you have not used Free Fire, then let us tell you that this is a battleground survival game. It has been made by Singapore company Sea Ltd. She also markets it.
Users liked Free Fire very much in India
The popularity of Free Fire increased a lot in India in 2020. The reason for this was the government’s decision to ban China’s apps. The government banned many apps in China including PUBG. PUBG is also a gaming. It is the rival of Free Fire. Due to the ban on PUBG, people in India were looking for another gaming app. Free Fire got the advantage of this.
In a short span of time, the popularity of Free Fire has increased a lot in India. The share of Indians in its active users worldwide reached 10 percent. Bollywood actor Hrithik Roshan entered this game. From this you can guess the popularity of this game in India.
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February banned the app by the government
In February, the brakes were suddenly put on the increasing speed of free fire in India. The government banned this game. This ban broke the hearts of the users of its game in India. Also, this shocked Sea Ltd and the government of Singapore. The setback to the users of this game can be easily guessed. This is a wonderful game. You can also make some money playing it. For example, a tournament held in India had a prize pool of Rs 1 crore. Old users can still play this game. But new users will not get access to it.
The company’s shares fell sharply due to the ban
Sea Ltd shares have fallen sharply. After the ban, its investors lost $ 16 billion in just one day. It is worth noting that India’s share in the gaming revenue of this company is only 2.6 percent. The ban in India had a huge impact on investor sentiment. But, there are other reasons as well, due to which there was a big fall in its stock.
Sea Ltd is the largest technology company in Singapore. This company not only makes games, but it is also in other important businesses. It also controls social commerce company Shopee and financial services division SeaMoney. Its CEO Forrest Lee is a member of the Singapore Economic Development Board.
Why did India ban Sea Ltd?
In India, the government did not just ban Sea Ltd. The government also banned 54 such apps, which are related to China. So does Free Fire have a connection to China? The answer to this question is yes. Forrest Lee was born in China. However, he is a citizen of Singapore. But, the trouble is that China’s social media company Tencent Holdings is the largest shareholder of Sea Ltd.
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