Jhunjhunwala’s Hold 8.08 Per Cent Stake: Gaming & Esports Company Signs Letter of Intent with Lysto to Launch - The Growth Protocol
The stock is up by 75.6 per cent from its 52-week low of Rs 590.85 per share.
Nazara Technologies Ltd and Lysto have joined forces to launch The Growth Protocol, a groundbreaking L1 blockchain designed specifically for digital marketing and growth applications on the blockchain. This innovative protocol aims to revolutionize the digital marketing landscape by introducing greater transparency, equity, and monetary benefits to all participants in the Web3 marketing ecosystem. By leveraging blockchain technology, The Growth Protocol empowers users to take control of their digital identities and participate in decentralized, trustless interactions.
The Growth Protocol made its public debut at India Blockchain Week, a global event for the Web3 community. Alongside the private testnet launch, the team unveiled a proof-of-concept loyalty dApp for game marketing, showcasing the practical application of Web3 technology in the gaming industry. Nitish Mittersain, CEO and Joint MD of Nazara expressed his enthusiasm for bringing Nazara's game marketing into the Web3 space, aligning with the company's vision for innovation in the gaming sector. Sadiq Ahamed Shaik, CEO of Lysto and Founder of The Growth Protocol, emphasized the platform's potential for developers and marketers, highlighting its role in empowering users through decentralization for marketing and growth initiatives.
The Growth Protocol team, comprising experienced professionals from Microsoft and Google, is actively engaging with Web3 developers, key opinion leaders, and marketing professionals at India Blockchain Week. The team is fostering collaboration and innovation within the Web3 community, inviting attendees to meet them in person, join the testnet launch, and participate in rewarding quests. For those unable to attend IBW, The Growth Protocol encourages connection through their website and social channels on X, LinkedIn, and other platforms.
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About the Company
Nazara, India's leading gaming and esports company, boasts a diverse portfolio of brands spanning India, the US, and other global markets. In esports, they own NODWIN Gaming, India's premier esports platform, and Sportskeeda/Pro Football Network, prominent sports media outlets. Their interactive gaming segment encompasses gamified learning platforms like Kiddopia and Animal Jam, the popular cricket simulation franchise World Cricket Championship (WCC), and a range of casual games distributed through telco partnerships. Furthermore, Nazara controls Datawrkz, a digital ad tech company that provides user acquisition and ad monetization services to both internal and external clients.
Nazara Technologies Ltd has a market cap of over Rs 7,800 crore. An ace investor, Rekha Jhunjhunwala – wife of the Late Rakesh Jhunjhunwala holds an 8.08 per cent stake in the company. The stock is up by 75.6 per cent from its 52-week low of Rs 590.85 per share. Investors should keep an eye on this small-cap gaming stock.
Disclaimer: The article is for informational purposes only and not investment advice.