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Nazara Technologies and gaming shop Lysto have signed a Letter of Intent (LOI) to launch an L1 infrastructure layer called The Growth Protocol designed for digital marketing and growth applications on the blockchain.
The Growth Protocol launched today at India Blockchain Week, showcasing a private testnet and loyalty dApp for game marketing and its web3 potential. The team includes experts from Microsoft and Google.
The new initiative aims to “bring greater transparency, equity and monetary benefits” in the web3 marketing ecosystem by helping users take control of their digital identities.
Providing value
“We are very happy to innovate on new and upcoming technologies such as web3, VR and AI and look forward to integrating our games with relevant web3 technologies that can add value to our players,” said Nazara CEO and joint MD Nitish Mittersain.
Lysto CEO and The Growth Protocol founder Sadiq Ahamed Shaik added: “The Growth Protocol is a platform for developers and all marketing roles. Our team is working with developers to launch a series of growth applications on the L1 blockchain, empowering users through decentralisation for marketing and growth initiatives.”
Nazara shows no signs of slowing down its M&A and investment activities. It recently acquired a 60% stake in Funky Monkeys Play Centers for $5.24 million and is investing $500,000 for a 4.7% stake in Google-backed AI learning platform LearnTube.
The Indian gaming and sports media firm is also boosting investments in its subsidiaries, allocating $17.74m, including $7.5m to Nodwin Gaming, $8.2m to acquire full ownership of Sportskeeda, and $1.8m into Datawrkz through preference shares to support its growth.
