Glance has acquired Gambit in India as the Google-backed company seeks to boost its mobile gaming offerings and introduce NFTs to its Gen Z users, TechCrunch has learned and confirmed.
Piyush Shah, co-founder of InMobi Group and chief operating officer of Glance, confirmed the acquisition but declined to share financial terms of the deal. In an interview with TechCrunch, he said the acquisition would help the Company supported by Jio Platforms bring live game show and NFT based incentive to its users to enrich their gaming experience.
Gaming is the latest focus of Glance, which is partnering with phone makers to bring media, entertainment and news content to users’ lock screen on handsets. The startup, present on more than 400 million devices, tested casual games on its platform last year and was immediately accepted by users.
Glance, which has acquired startups Roposo and Shop101 over the past few years, is known for acquiring smaller companies and significantly expanding their offerings while expanding Glance’s platform.
“Nearly 10 million people watch live matches on Glance every month. So our idea was how we can also bring live game shows to the platform? Shah said.
He said that NFTs will provide many benefits to users. “It will have utilitarian benefits – where owning the digital virtual assets will allow users to build strong character in games – and at the same time, these NFTs could be listed and traded on NFT markets and exchanges to help users earn and own,” he said.
He declined to reveal which blockchain the startup uses to launch NFTs and which players it intends to partner with, noting that Glance’s web3 push is still in its early stages. But Glance has been evaluating the space for more than nine months.
The startup plans to partner with gamers and influencers as well as other game companies, he said. NFTs on the platform will capture micro-moments from the game and high-level virtual avatars, he added. “This will potentially allow creators, streamers, and developers to monetize through NFT-based assets and game creation, while providing gamers with unique experiences they love,” the startup said. (Glance avoids bringing fantasy sports offerings from six-year-old Gambit, which operates Nostragamus, citing local regulations in India.)
“With the combined strengths of Glance and Gambit and our belief that there is a game for everyone, we plan to double the number of monthly active players on Glance Games over the next year,” said Yashashvi Takallapalli, co-founder and chief executive of Gambit, in a statement.
Glance, valued at around $1.7 billion, is the latest major Indian company to go web3.
Fantasy sports giant Dream11 is in talks to acquire a 30-40% stake in start-up NFT Rario for around $100 million, according to a person familiar with the matter. (India’s Economic Times newspaper reported some details of the deal earlier.) FanCraze, a Sequoia Capital India-backed NFT startup that has an exclusive partnership with the ICC, said earlier this week that it had raised $100 million in one funding round.
Last month, Indian game developer SuperGaming teamed up with Siddharth Menon, co-founder of cryptocurrency exchange WazirX, to launch a web3 gaming marketplace called Tegro.
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Google-Backed Glance Acquires Gambit Gaming Platform In NFT Push – TechCrunch
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