Indian sport firm Nazara has introduced it’s acquired a 15.86% stake in esports and fandom group platform Stan. A rapidly rising participant within the Indian sport business, Stan is a mobile-first video games platform devoted to the esports and fandom group.
Earlier in 2024, Stan unveiled a partnership with Aptos Labs, to launch its platform on the Aptos blockchain. It additionally presents 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.
When it comes to the Nazara acquisition, it purchased its stake in Stan for 18.4 INR ($2.2 million) in an all-cash secondary transaction by 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 method and deal with group engagement align completely with our imaginative and prescient to grow to be a number one participant within the international esports ecosystem. This acquisition permits us to develop our attain whereas empowering content material creators and fostering a stronger gaming group,” mentioned Nazara Applied sciences founder and CEO Nitish Mittersain.
“Nazara’s funding will likely be a serious increase 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.