Google-backed Glance acquires gaming platform Gambit in NFT push
Glance has acquired India's Gambit as the Google-backed firm looks to supercharge its mobile games offering and introduced NFTs to its Gen-Z users.
Piyush Shah, the co-founder of inModi Group and COO of Glance, approved the acquisition but refused to share the financial terms of the deal. in an interview with TechCrunch, he expressed that the acquisition will help the Jio Platforms backed firm to bring live games shows and NFT-based incentivization to its users to enrich their gaming experience.
Glance focuses on gaming, which partners with phone makers to bring media, entertainment, and news content to users' lock screens on handsets. The startup with a presence on over 400 million devices. casual games on its platform last year and instantly found acceptance among users.
Glance, which has acquired younger firm Roposo and Shop101 in recent years is known to acquire small firms and significantly scale their offering while broadening Glance's platform.
Shah said that "Nearly 10 million people are watching live game streaming on Glance every month. So our idea was how do we even bring live game shows on the platform?"
NFTs will deliver a whole lot of benefits to users "it will have utilitarian benefits were owning the digital virtual assets will allow users to create a powerful character in games and at the same time these NFTs could be listed and traded on NFT marketplaces and exchanges to help users earn and own"
He refused to reveal which blockchain the startup is using to launch NFTs and the players it intends to partner with stating that the Web3 push of Glance is still in its early days, Glance has been considering the space for over nine months.
The Startup that the web3 inspiration of Glance is still in its earlier days. Glance has been considering the space for over nine months.
The startup aim to partner with gamers and influencers as well as other gaming firms. he said The NFTs on the platform will capture micro-moments from the game and high order virtual avatars, "This will potentially enable," streamers and developers to monetize via assets and NFT based game design while offering gamers amazing experiences that they love.
Glance valued at approx $1.7 billion, is the latest major firm from India to make a push into web3
Fantasy sports giant Dream11 is in talks to acquire a 30 to 40 percent stake in NFT startup Rario for approximately $100 million, according to a person familiar with the matter. Sequoia Capital India-backed NFT startup FanCraze, which maintains an exclusive partnership with the ICC, stated earlier this week it had raised $100 million in a funding round.
Indian game developer Super Gaming last month partnered with Siddharth Menon, co-founder of cryptocurrency exchange WazirX, to launch a Web3 games marketplace called Tegro.