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Altered Ventures Letters
Brief: Gaming x AI x Capital in 2025

The Future of Gaming in LATAM

An interactive exploration of how AI, indie development, and strategic capital are reshaping the gaming landscape in Latin America, with Mexico leading the transformation.

Global Market ~ $184B (2024)
LATAM ~ $8.4B (2024)
México > $2.2B
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LATAM Gaming Market Map
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La revolución indie de América Latina

Latinoamérica combina adopción acelerada con comunidades de desarrolladores y jugadores a nivel masivo. Existen más de 270 millones de videojugadores en la región, donde México, Brasil, Argentina, Colombia, Perú y Chile lideran (en ese orden). Este terreno se potencia con distribución digital, talento competitivo y costos atractivos. Si a todo este caldo de cultivo se le suma la disrupción absoluta que se está viviendo con la inteligencia artificial generativa y el proceso de democratización en el desarrollo de software, la revolución es inminente: se avecina la más grande oportunidad de emprendimiento e inversión en gaming de Latinoamérica en la Historia.

LATAM ~ $8.4B in 2024. 2nd Region WW in Growth %
Mexico is #1 in the region by combination of revenue and users
Sources: Newzoo, PwC, Statista, Altered Ventures
Latin America Gaming Market Statistics

El auge del desarrollo independiente

Los estudios de videojuegos independientes o "indies" son el laboratorio de innovación de la industria de entretenimiento más grande del planeta. El bajo costo de los motores de desarrollo como Unity, Unreal y Godot así como la democratización de los canales directos de distribución, son factores que llevan varios años permitiendo a estudios pequeños lanzar y competir con sus juegos globalmente.

Es un hecho: cada vez es más fácil y barato desarrollar, lanzar y desplazar en el mercado un videojuego. Esta es la razón detrás del crecimiento sin precedentes que ha experimentado el sector indie de videojuegos y más aún, la razón por la cual, la oportunidad sigue vigente.

~60% of Steam releases (2024) come from indie developers.
Global indie market > $5B (20% YoY growth)
+70% of indie studios in the region concentrated in MX/AR/BR
Indie Gaming Statistics

From code to "vibe coding"

No-code technological tools have exploded in recent months and enable non-technical developers without programming knowledge to create functional prototypes in record time. AI automates components, graphics, logic and testing, accelerating from concept to playable demo. The evolution of development has transformed how we create software: from traditional coding to 'vibe coding' where the developer becomes a high-level orchestrator.

The opportunity for more non-technical people to become video game designers and producers has never been greater.

Traditional Coding

  • Developer writes ALL lines
  • Full control over every detail
  • Slower, manual iteration
AI Trust Level:
LOW

AI-assisted Coding

  • Partial code, often guided by AI
  • Must validate AI-suggested lines
  • Speed improved. Requires oversight
AI Trust Level:
MODERATE

Vibe Coding

  • NATURAL-LANGUAGE prompts
  • AI generates the majority of code
  • Rapid iteration; acceptance of code
  • Developer = Product Orchestrator
AI Trust Level:
HIGH

Traditional Coding

  • Developer writes ALL lines
  • Full control over every detail
  • Slower, manual iteration
Trust in AI:
LOW

AI-assisted Coding

  • Partial code, often guided by AI
  • Must validate AI-suggested lines
  • Speed improved. Requires oversight
Trust in AI:
MODERATE

Vibe Coding

  • NATURAL-LANGUAGE prompts
  • AI generates the majority of code
  • Rapid iteration; acceptance of code
  • Developer = Product Orchestrator
Trust in AI:
HIGH

Gaming + AI + Capital:

10x Efficiency

Micro-teams and solo developers powered by AI generate global distribution from Mexico and Latin America.

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$50K-150K tickets
70% reducción costos
Alcance global Día 1
Altered Ventures

Catalyst & Enabler

TRADITIONAL DEVELOPMENT

Input: Conventional methods

$250K USD
18-24 months
Technical barriers

AI ACCELERATION ZONE

No-Code Tools
Cost/Time Reduction
Global Distribution

AI-ENHANCED RESULTS

Revolutionary Efficiency

$50K-150K (-70%)
3-6m (-75%)
Global Day 1

Micro-teams + AI + Global Distribution = 10x Creative Alpha

SUPERNOVA Indie Games Fest

SUPERNOVA Indie Games Fest

SUPERNOVA INDIE GAMES FEST is an event conceptualized by Altered Ventures and co-founded with OCESA/Gamers Unite to launch Mexico's first B2C platform where local, regional, and international indie studios showcase their games to thousands of consumers.

Additionally, the SUPERNOVA DEV CHALLENGE is a competition where new video game development talent in Mexico will be rewarded with $500,000 pesos to continue driving creativity and the local and regional indie ecosystem.

Mexico City - Expo Reforma
October 4, 2025
+1500 players, +80 gaming zones
Dev Challenge: $500K pesos prizes
www.supernova.game

Game Conference MX

Game Conference MX

GAME CONFERENCE MX is the specialized platform for video game development professionals in Mexico and Latin America, with Altered Ventures as one of its investors. This conference brings together high-level talent and creative minds from LATAM to explore innovative video game development.

With the motto "By game devs, for game devs," Game Conference MX offers inspiring talks, networking, and an expo showcasing game projects from established and indie studios to boost creativity.

Guadalajara - Digital Creative City
October 17-18, 2025
Developers, leaders, networking
Talks, expo, collaboration
www.gameconferencemx.com
LATAM Gaming Ecosystem Map
Altered Ventures Letters
2025 REPORT COMING SOON

Gaming + IA + Capital

The convergence that rewrites the future

Latinoamérica está entrando a una fase de aceleración histórica. Este brief es una invitación a explorar-con datos y casos-cómo se reescribe el futuro desde México hacia la región cuando el desarrollo indie, el gaming y la IA convergen.

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