Nazara Technologies Acquires 15.86% Stake in Blockchain E-Sports Startup STAN The acquisition follows Nazara's recent USD 27.2 million purchase of UK-based Fusebox Games Limited and other strategic deals, including the acquisition of Kiddopia's developer Paper Boat Apps and the IP rights of Ultimate Teen Patti.
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Gaming and sports media company Nazara Technologies has announced a strategic acquisition, securing a 15.86% stake in STAN, a blockchain-based e-sports fan engagement startup. The investment, totaling up to USD 2.2 million, underscores Nazara's commitment to expanding its footprint in the burgeoning e-sports industry.
In a recent stock exchange filing, Nazara highlighted that this acquisition not only strengthens its position but also aligns with its strategy to amplify its presence in the global e-sports ecosystem.
"Nazara's investment in STAN strengthens our position in the rapidly growing gaming and e-sports landscape. This acquisition allows us to expand our reach while empowering content creators and fostering a stronger gaming community," said Nitish Mittersain, Founder and CEO of Nazara Technologies. He emphasised that STAN's mobile-first approach and focus on community engagement resonate with Nazara's vision.
STAN, founded in 2022 by Chadha, Rahul Singh, Nauman Mulla, and Shubham Gupta, offers a Web3-based platform designed to help creators build and monetize communities. The platform enables users to engage with their favorite gaming creators through digital collectibles, chat, audio rooms, and exclusive celebrity communities.
With over 12 million users and a turnover of USD 1.8 million as of March 31, 2024, STAN's growth has been notable, following a USD 2.7 million funding round in January from Aptos Labs, Maelstrom Fund, and others.
The acquisition follows Nazara's recent USD 27.2 million purchase of UK-based Fusebox Games Limited and other strategic deals, including the acquisition of Kiddopia's developer Paper Boat Apps and the IP rights of Ultimate Teen Patti.
"Nazara's investment will be a major boost for STAN, fast-tracking our journey to redefine gaming and esports communities and help us achieve our vision," said Parth Chadha, CEO of STAN. This investment reflects Nazara's ongoing strategy to enhance its global presence and support innovative platforms in the gaming and e-sports sector.
