India: Nazara Technologies and Lysto have announced the signing of a Letter of Intent (LOI) to launch The Growth Protocol, a L1 infrastructure layer specifically designed for digital marketing and growth applications on the blockchain.
The Growth Protocol is a purpose-built L1 blockchain developed through a collaboration between Nazara Technologies FZ LLE, a 100% owned subsidiary of Nazara Technologies Limited—India’s only publicly listed gaming company—and Lysto, a one-stop shop for the gaming world, backed by prominent venture capitalists such as Hashed, SquarePeg, Tiger Global, Distributed Global, and Beenext, as well as prominent angels like Balaji Srinivasan, Sandeep Nailwal, Jaynti Kanani, Bobby Ong, and T.M. Lee.
The primary objective of The Growth Protocol is to revolutionize the digital marketing landscape by enhancing transparency, equity, and monetary benefits for participants in the Web3 marketing ecosystem. By leveraging blockchain technology, the protocol empowers users with greater decentralization, giving them control over their digital identities and enabling decentralized, trustless interactions in the marketing and growth sectors.
The public debut of The Growth Protocol takes place at India Blockchain Week (IBW), one of the most significant global events for the Web3 community. In addition to a private testnet launch, the team will also showcase a proof-of-concept loyalty decentralized application (dApp) designed for game marketing, illustrating the practical applications of Web3 technology within the gaming industry.
Nitish Mittersain, CEO and Joint Managing Director of Nazara Technologies, shared his enthusiasm for innovations in the gaming sector and for bringing Nazara’s game marketing to the Web3 space. At IBW, he 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 relevant Web3 technologies that can add value to our players.”
Sadiq Ahamed Shaik, CEO of Lysto and Founder of The Growth Protocol, emphasized the platform’s significance for developers and marketing professionals alike. He stated, “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.”
The team behind The Growth Protocol includes professionals with extensive experience from leading tech giants like Microsoft and Google. The team is actively engaging with Web3 developers, key opinion leaders, and marketing professionals at IBW, fostering collaboration and innovation within the community.
The Web3 community at IBW is invited to meet the team in person, join the testnet launch, and participate in rewarding quests. For those unable to attend IBW, The Growth Protocol can be followed through its website, and social channels on X, LinkedIn, and more.
