Nazara & Lysto Sign Letter of Intent to launch “The Growth Protocol”

The Growth Protocol is a purpose-built L1 blockchain and a collaboration between Nazara Technologies FZ LLE, a 100% owned subsidiary of Nazara Techologies Limited that is India’s only publicly listed gaming company, and Lysto, the gaming world’s one-stop shop funded by leading VCs like Hashed, SquarePeg, Tiger Global, Distributed Global, Beenext, and prominent angels like Balaji Srinivasan, Sandeep Nailwal, Jaynti Kanani, Bobby Ong, and T.M. Lee.

The Growth Protocol aims to bring greater transparency, equity, and monetary benefits to all participants in the Web3 marketing ecosystem. By leveraging blockchain technology, the protocol empowers users through decentralization to take control of their digital identities and participate in decentralized, trustless interactions. 

The Growth Protocol makes its public debut at India Blockchain Week, a significant event for the Web3 community globally. Alongside a private testnet launch, the team released a proof-of-concept loyalty dApp for game marketing, showcasing the practical application of Web3 technology in the gaming industry.

Speaking at IBW, Nitish Mittersain, CEO and Jt. MD of Nazara, shared his vision for innovations in the gaming sector and expressed his enthusiasm for bringing Nazara's game marketing to the Web3 space. Speaking at India Blockchain Week, Nitish said, “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, The Growth Protocol, said, “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.”