Nazara acquires 16% stake in web3 esports platform Stan

Indian game company Nazara has announced it’s acquired a 15.86% stake in esports and fandom community platform Stan. A quickly growing player in the Indian game industry, Stan is a mobile-first games platform dedicated to the esports and fandom community.

Earlier in 2024, Stan unveiled a partnership with Aptos Labs, to launch its platform on the Aptos blockchain. It also offers UGC tools and NFT trading. To-date, it claims to have gained over 500,000 paying users, and a total user base of 15 million.

In terms of the Nazara acquisition, it bought its stake in Stan for 18.4 INR ($2.2 million) in an all-cash secondary transaction through its subsidiary Nazara Dubai FZ.

“Nazara’s investment in STAN strengthens our position in the rapidly growing gaming and esports landscape. STAN’s mobile-first approach and focus on community engagement align perfectly with our vision to become a leading player in the global esports ecosystem. This acquisition allows us to expand our reach while empowering content creators and fostering a stronger gaming community,” said Nazara Technologies founder and CEO Nitish Mittersain.

“Nazara’s investment will be a major boost for STAN, fast-tracking our journey to redefine gaming and esports, communities and help us achieve our vision,” added Stan CEO Parth Chadha.