Nazara Technologies and Lysto Collaborate to Launch The Growth Protocol

Nazara Technologies Limited, India’s only publicly listed gaming company, and Lysto, a leading gaming growth enabler, have signed a Letter of Intent (LOI) to launch The Growth Protocol. This innovative Layer 1 (L1) blockchain infrastructure aims to transform digital marketing by fostering transparency, equity, and decentralised user interactions in the Web3 ecosystem.

Nazara Technologies shares were up by 0.68% to ₹1,024.35. The stock has climbed 134.17% in 2024. 

Revolutionising Web3 Marketing

The Growth Protocol is designed as a specialised blockchain solution for marketing and growth initiatives. It empowers users with greater control over their digital identities and promotes decentralised, trustless interactions, paving the way for a new era in marketing and gaming.

The project made its debut at India Blockchain Week (IBW) 2024, where a private test net and a proof-of-concept loyalty dApp for game marketing were showcased. These tools demonstrate how blockchain can enhance marketing in the gaming industry.

Visionary Leadership

Nitish Mittersain, CEO and Joint Managing Director of Nazara Technologies expressed enthusiasm for integrating emerging technologies like Web3 into gaming. At IBW, he stated, “We are very happy to innovate on new and upcoming technologies such as Web3, VR & AI and look forward to integrating our games with relevant Web3 technologies that can add value to our players.”

Sadiq Ahamed Shaik, CEO of Lysto and Founder of The Growth Protocol, highlighted the platform’s role as a resource hub for developers and marketers, empowering users to build growth-focused applications.

Key Highlights from India Blockchain Week

• Testnet Launch: The Growth Protocol’s private testnet goes live.
• Proof-of-Concept Loyalty dApp: Demonstrates blockchain’s practical use in game marketing.
• Team Expertise: Professionals with experience at Microsoft and Google lead the initiative.
• Community Engagement: The Web3 community at IBW can participate in quests and connect with the team through various platforms.

About Nazara Technologies

Nazara Technologies Limited boasts a diverse portfolio in esports, gaming, and digital ad tech. With platforms like NODWIN Gaming, Sportskeeda, and interactive gaming offerings such as Kiddopia and the World Cricket Championship, Nazara has solidified its global presence.

About Lysto

Lysto specialises in enabling growth for gaming studios through playtesting and retention tools while providing gamers with reward-based opportunities. Supported by prominent venture capitalists and angel investors, Lysto continues to push boundaries in gaming technology.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions