Nazara Technologies, a diversified gaming, esports and sports media company, through its wholly-owned subsidiary Nazara Dubai FZ, has acquired a 15.86% stake in Stan, a blockchain-based e-sports fan engagement startup. Nazara picked up the stake in Stan for $2.2 million in cash through a secondary transaction from existing shareholders.

Stan is building a mobile-first platform for creators to build, monеtisе communitiеs and allow usеrs to engage with their favourite gaming creators or celebrities through digital collectibles, chat or audio rooms, and exclusive celebrity communities.

It also lets users to engage with each other. As of July 2024, the firm said its user base has surpassed 12 million, with over 80% of users coming through organic and referral-based channels. The platform boasts of over 500,000 paying users and a high 30-day retention rate of over 60%.

“Nazara’s investment in STAN strengthens our position in the rapidly growing gaming and esports landscape. STAN’s mobile-first approach and focus on community engagement align perfectly with our vision to become a leading player in the global esports ecosystem. This acquisition allows us to expand our reach while empowering content creators and fostering a stronger gaming community,” said Nitish Mittersain, Founder and CEO of Nazara Technologies.

In January this year, Stan raised $2.7 million from Aptos Labs, Maelstrom Fund and others. In May 2022, the Bengaluru-based startup raised $2.5 million in its seed round led by General Catalyst and others.

“Nazara’s investment will be a major boost for STAN, fast-tracking our journey to redefine gaming and esports, communities and help us achieve our vision,” said Parth Chadha, CEO of STAN.

Last month, Nazara acquired Fusebox Games, a UK-based gaming studio for ₹228 crore in an all-cash transaction. Prior to that, the company has bought Kiddopia’s developer Paper Boat Apps, buying IP rights of Ultimate Teen Patti and taking over assets of DeltiasGaming.