Indian recreation firm Nazara has introduced it’s acquired a 15.86% stake in esports and fandom neighborhood platform Stan. A shortly rising participant within the Indian recreation business, Stan is a mobile-first video games platform devoted to the esports and fandom neighborhood.
Earlier in 2024, Stan unveiled a partnership with Aptos Labs, to launch its platform on the Aptos blockchain. It additionally gives UGC instruments and NFT buying and selling. To-date, it claims to have gained over 500,000 paying customers, and a complete person base of 15 million.
By way of the Nazara acquisition, it purchased its stake in Stan for 18.4 INR ($2.2 million) in an all-cash secondary transaction via its subsidiary Nazara Dubai FZ.
“Nazara’s funding in STAN strengthens our place within the quickly rising gaming and esports panorama. STAN’s mobile-first strategy and give attention to neighborhood engagement align completely with our imaginative and prescient to turn out to be a number one participant within the world esports ecosystem. This acquisition permits us to broaden our attain whereas empowering content material creators and fostering a stronger gaming neighborhood,” stated Nazara Applied sciences founder and CEO Nitish Mittersain.
“Nazara’s funding will likely be a serious enhance for STAN, fast-tracking our journey to redefine gaming and esports, communities and assist us obtain our imaginative and prescient,” added Stan CEO Parth Chadha.
