At the ongoing India Blockchain Week (December 2–8, 2024), Indian gaming and esports company Nazara, in partnership with Singapore-based gaming platform Lysto, has announced the launch of a new Layer 1 (L1) blockchain named The Growth Protocol. Designed specifically for marketing and growth applications, this blockchain aims to harness the potential of decentralized technology to create value across gaming and marketing industries.

Lysto and Nazara Announce New L1 Blockchain

The Growth Protocol

The Growth Protocol represents a joint initiative between Nazara Technologies FZ LLE, a subsidiary of Nazara Technologies Limited, and Lysto. Nazara, a recognized name in Indian gaming and esports, has been at the forefront of integrating emerging technologies into gaming experiences. Lysto, on the other hand, has built its reputation as a comprehensive gaming platform, offering tools for developers such as playtesting, user acquisition, and retention solutions.

Lysto’s work is backed by notable venture capital firms including Hashed, SquarePeg, and Tiger Global, alongside high-profile angel investors such as Balaji Srinivasan and Sandeep Nailwal. This support underscores the company’s credibility in leveraging blockchain to create innovative solutions within the gaming ecosystem.

Nitish Mittersain, CEO and Joint Managing Director of Nazara, emphasized the company’s commitment to innovation, saying: "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."

Game Controller

Transparency and Growth

The Growth Protocol is designed to address marketing challenges through blockchain’s inherent strengths: transparency, equity, and monetary incentivization. With this new L1, developers and marketers can access decentralized tools that enable loyalty programs and other growth-oriented strategies, thus driving engagement and value creation.

To demonstrate its functionality, the team launched a proof-of-concept loyalty application during the event. This application highlights practical use cases of blockchain technology in-game marketing, showcasing how such systems can enhance user retention and participation.

Similarly, Sadiq Ahamed Shaik, founder and CEO of Lysto, highlighted the transformative potential of The Growth Protocol, stating: "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."

Lysto Logo

A Step Toward the Future of Decentralized Marketing

The unveiling of The Growth Protocol marks a significant step in integrating blockchain technology with gaming and marketing. By creating tools that empower developers and marketers alike, the new L1 blockchain underscores the potential of web3 technologies to drive innovation, transparency, and user engagement in the gaming industry.

As blockchain technology continues to evolve, initiatives like The Growth Protocol could redefine how gaming companies approach growth and engagement strategies, setting the stage for a more decentralized and equitable future.

Source: BlockchainGamer