Web3 game startup Kratos Studio, led by the former CEO of Nazara, secures Rs 160 Cr in venture funding and acquires IndiGG.

Web3 game startup

The firm intends to invest money to construct distribution networks for international Web 3 games in developing areas.

Manish Agarwal, the former CEO of Nazara Technologies, and angel investor Ishank Gupta have funded Rs 160 crore for Kratos Studios, their new Web3 game company, at a valuation of Rs 1,200 crore.

Accel Partners led the investment round, which also included Prosus Ventures, Nexus Venture Partners, Courtside Ventures, Nazara, and other investors.

The firm intends to invest money to construct distribution networks for international Web 3 games in developing areas.

“We are giving the 500 million or more players in South Asia the chance to use their time and expertise to create digital commodities for international games on the blockchain. This would allow South Asia to develop into a manufacturing hub for digital goods for the gaming industry, “In a statement, Agarwal stated.

In order to work with IndiGG on the Web3 front, Nazara Technologies has also invested in this round.

Acquisition of IndiGG

In addition to generating money, Kratos Studios has also exchanged tokens for IndiGG, which is backed by Polygon Lab. Following the acquisition, holders of existing INDI tokens will exchange them for new tokens during the Token Generation Event in exchange for the new token. The INDI coin will continue to trade on the current exchanges up until that point.

“As sub-DAOs in the IndiGG ecosystem, the IndiGG stack will collaborate with already-existing gaming micro-communities in South Asia, both offline and online. These micro-communities will support the rapid expansion of the community for international Web3 games “added Gupta.

According to the startup, both co-founders will continue to work closely with co-founders Sandeep Nailwal of Polygon and Gabby Dizon of Yield Guild Games (YGG) to develop the first gaming DAO. “Blockchain has the potential to profoundly change the gaming industry and spur expansion in developing nations. We think that this group is most placed to help players realize this value. Along with IndiGG, we are dedicated to creating a thriving gaming ecosystem “Accel’s Subrata Mitra, a partner, continued.

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