Nazara Technologies and Lysto have signed a Letter of Intent to launch The Growth Protocol, an L1 infrastructure layer, purpose-built for digital marketing and growth applications on the blockchain.
The Growth Protocol is a purpose-built L1 blockchain and a collaboration between Nazara Technologies FZ LLE, a 100 per cent owned subsidiary of Nazara Techologies that is India’s only publicly listed gaming company, and Lysto, the gaming world’s one-stop shop funded by VCs like Hashed, SquarePeg, Tiger Global, Distributed Global, Beenext, and angels like Balaji Srinivasan, Sandeep Nailwal, Jaynti Kanani, Bobby Ong, and T.M. Lee.
Designed to revolutionise the digital marketing landscape, 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 decentralisation to take control of their digital identities and participate in decentralised, 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 India Blockchain Week (IBW), Nazara CEO and joint MD Nitish Mittersain said, “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 releveant Web3 technologies that can add value to our players.”
Lysto CEO and The Growth Protocol founder Sadiq Ahamed Shaik 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 decentralisation for marketing and growth initiatives.”
The Growth Protocol team, composed of experienced professionals previously at Microsoft and Google, is engaging with Web3 developers, opinion leaders, and marketing professionals at IBW, fostering collaboration and innovation.