Gaming and sports media giant Nazara Technologies has announced its acquisition of a 15.86% stake in Stan, a blockchain-based e-sports fan engagement startup, for a total consideration of $2.2 million. This strategic investment reinforces Nazara’s growing influence in the gaming and e-sports ecosystem.
Stan, founded in 2022 by Chadha, Rahul Singh, Nauman Mulla, and Shubham Gupta, operates a Web3-based platform that allows creators to build and monetize communities. Users can engage with their favourite gaming creators or celebrities through digital collectables, chat rooms, audio interactions, and exclusive celebrity communities. With over 12 million users, Stan is rapidly growing and reported a turnover of $1.8 million as of March 31, 2024.
Stan’s previous funding rounds include $2.7 million from Aptos Labs, Maelstrom Fund, and other investors in January 2024, as well as $2.5 million in a seed round led by General Catalyst in May 2022.
Nazara’s acquisition of Stan follows its purchase of Fusebox Games Limited, a UK-based gaming studio, for Rs 228 crore ($27.2 million) in an all-cash deal just last month. Nazara has been on an acquisition spree, expanding its portfolio with deals that include the purchase of Kiddopia developer Paper Boat Apps and the IP rights for Ultimate Teen Patti.
In its Q1 FY25 financials, Nazara reported a 6.06% decline in operating revenue to Rs 250 crore from Rs 266.2 crore in the previous quarter. E-sports contributed 52.73% of the company’s revenue, followed by gaming at 37.11% and ad tech at 10.26%.
Nazara’s latest move highlights its commitment to strengthening its foothold in the e-sports and gaming sectors, with blockchain-based fan engagement platforms like Stan playing a key role in shaping the future of digital entertainment.
