GamesBeat Summit 2023 will bring together top gaming executives in Los Angeles. It takes place May 22-23. Register here.
Kratos Studios The company announced raising $20 million in capital at an estimated $150 million. and It acquired IndiGG.
Accel led the seed round, along with Courtside Ventures and Nexus Venture Partners. Nazara was also involved. and others.
Game veterans Manish Agarwal and Ishank Gupta founded the Bengaluru, India-based organization Kratos. Their Web3 gaming autonomous decentralized organization (DAO), is being built under the IndiGG They also purchased the brand through token swaps. This funding will allow them to develop distribution lines in emerging markets, for Web3-related games.
The DAO will invest additional funds in building identification and construction. and Develop the most exciting Web3 games in the world. Argarwal and Gupta is set to work with Sandeep Nailwal (Polygon founder) and Gabby Dizon is the co-founder of Yield Guild Games, and she has set her sights on building the most powerful gaming DAO anywhere in the world.
Event
GamesBeat Summit 2023
This May 22, 23 and 24, join the GamesBeat Los Angeles community. You’ll hear from the brightest minds within the gaming industry to share their updates on the latest developments.
Nazara Technologies (where Agarwal was the former CEO) has also participated in this round, with an intent of collaborating with IndiGG Web3 Front
Agarwal made the following statement in a statement “We are providing the 500 million gamers of India an opportunity to leverage their time and skill to become creators of digital goods on the blockchain for global games. This can enable India to transform into the digital goods’ factory for the world.”
Gupta stated in a statement that “The IndiGG stack will partner with existing gaming micro-communities,
both on-ground and online, as sub-DAOs in the IndiGG ecosystem. The South Asia region has witnessed a massive growth because of the young gaming population.”
“South Asia has a thriving gaming community. YGG is backing IndiGG to build a gamer’s nation and plug Indian gamers into the global world of Web3 Gaming.” Gabby Dizon (cofounder of YGG) released a statement.
Polygon cofounder Nailwal was also mentioned in a statement. “At Polygon, our dream of bringing a billion users on chain can get a huge boost through IndiGG. Under the leadership of Manish and Ishank, IndiGG will become the foremost partner for chains and games building in Web3.”
Existing INDI token holders can be switched to new tokens following the acquisition. This will take place at the event of token generation for the new token. Until that time, the INDI token will trade on existing exchanges.
Agarwal joined India’s nascent gaming ecosystem 15 years ago post successful stints with Hindustan Unilever and Microsoft, among other companies. As the CEO of Nazara, he was the driving force in making it India’s first and Only publicly traded gaming company. Manish is also co-chairman of IAMAI Gaming Council and The Convenor of FICCI’s Gaming Committee.
Gupta is an active member and Assisting consumer companies in China, South Africa and the UK. and India. During his tenures at marquee companies worldwide like AB InBev and BCG, he built and Lead cross-functional and Different teams. He is active in investing in companies at early stage that focus on the consumer. and blockchain.
GamesBeat’s creed The game industry should be covered when you are covering it. “where passion meets business.” This is what does it mean? This is how we want you to understand the importance of news to you as an industry decision-maker and fan. GamesBeat can help you understand the industry, whether you’re reading our articles or listening to our podcasts. and Enjoy engaging with it. Check out our briefings.
