In conjunction with the currently ongoing India Blockchain Week (2nd-8th December), Indian gaming and esports company Nazara and Singapore-based gaming platform Lysto have unveiled plans to launch L1 blockchain called The Growth Protocol.
Purpose-built for marketing and growth applications on the blockchain, The Growth Protocol is a collaboration between Nazara Techologies Limited subsidiary Nazara Technologies FZ LLE, and Lysto.
Backed by prominent VCs including Hashed, SquarePeg, and Tiger Global, as well as angels such as Balaji Srinivasan, Sandeep Nailwal, Lysto is described as a one-stop shop for gaming, offering developers playtesting, acquisition and retention tools, and more.
By leveraging blockchain technology, the L1 hopes to bring greater transparency, while also enabling equity, and monetary benefits within marketing.
Alongside its private testnet launch at India Blockchain Week, the team has released a proof-of-concept loyalty application for game marketing, showcasing the practical use cases of blockchain technology in games.
Nazara CEO and Jt. MD Nitish Mittersain commented, “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.”
Lysto founder and CEO 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 decentralization for marketing and growth initiatives.”