New Delhi : Raised by gaming industry veteran and former CEO of Nazara Technologies Manish Agarwal and Web3 investor Ishank Gupta At a valuation of ₹160 crore (approximately $20 million) in the seed round 1,200 crore for a new web3 gaming startup called Kratos Studios, which they will operate under the brand name IndiGG. The seed round was led by Accel and included Prosus Ventures, Courtside Ventures, Nexus Venture Partners, Nazara and Jet Ventures.
Aggarwal and Gupta acquired the IndiGG brand name from Yield Guild Games (YGG) through a token swap, which is a transfer of digital tokens from one blockchain to another. Kratos has also acquired INDI tokens and will later issue new tokens to its holders through a token generation event. Until then, INDI tokens will continue to trade on exchanges.
IndiGG is a sub-DAO (Decentralized Autonomous Organization) of YGG. It was launched in 2022 with the support of Polygon Studios to expand the Play-to-Earn (P2E) web3 gaming ecosystem in India. Game developers list quests on the platform and players participate to win prize money.
Prior to the acquisition of the IndiGG brand, Gupta was its advisor. Aggarwal said that he and Gupta will continue to work with Polygon co-founder Sandip Nailwal and YGG co-founder Gabi Dijon to grow IndiG and make it the world’s largest gaming DAO.
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