Glance has obtained India’s Gambit, according to reports, as the Google-backed company wants to expand its mobile game offerings and introduce NFTs to its Gen-Z customers. The acquisition was verified by Piyush Shah, co-founder of InMobi Group and COO of Glance, although the financial parameters of the deal were not disclosed. He told that the acquisition will allow the Jio Platforms-backed company deliver live game shows and NFT-based incentivisation to its consumers to enhance their gaming experience.
Glance, which partners with phone manufacturers to offer media, entertainment, and news information to users’ lock screens on handsets, has turned its attention to gaming. Last year, the business, which now has a presence on over 400 million devices, debuted casual games on its platform, which were quickly accepted by users.
Glance is known for acquiring small businesses and rapidly scaling their capabilities while widening its platform, as it has done with Roposo and Shop101 in recent years.
“Almost 10 million people are watching live game streaming on Glance every month. So our idea was how do we also bring live game shows on the platform?” stated Shah.
He said NFTs will deliver a whole lot of 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 marketplaces and exchanges to help users earn and own,” he said.
He declined to say which blockchain the company is employing to launch NFTs or which players it plans to collaborate with, citing the fact that Glance’s web3 effort is still in its early stages. Glance, on the other hand, has been analysing the area for more than nine months.
The startup intends to partner with gamers and influencers as well as other gaming brands, he shared. He added that the NFTs on the platform will capture micro-moments from the game and high-order virtual avatars. “This will potentially enable creators, streamers and developers to monetize through assets and NFT-based game creation, while giving gamers unique experiences that they love,” the startup spoke. (Glance is avoiding bringing fantasy sports offerings of six-year-old Gambit, which operates Nostragamus, quoting local regulation in India.)
“With Glance and Gambit’s combined strengths and our belief that there is a game for every person, we envision doubling the number of monthly active gamers on Glance Games in the next year,” said Yashashvi Takallapalli, co-founder and chief executive of Gambit, in a statement.
According to a source familiar with the situation, fantasy sports company Dream11 is in talks to buy a 30 to 40% share in NFT startup Rario for over $100 million. (Some aspects of the purchase were previously disclosed in the Indian newspaper Economic Times.) The NFT business FanCraze, which has an exclusive deal with the ICC and is funded by Sequoia Capital India, said earlier this week that it had raised $100 million in a funding round.
Last month, Indian game company SuperGaming teamed up with Siddharth Menon, the co-founder of cryptocurrency exchange WazirX, to launch Tegro, a web3 games marketplace.