Saturday, April 27, 2024
Outlook.com
Outlook India
Outlook Business

Kratos Studios Allocates Rs 50 Crore Grant To Encourage Games Migration To Blockchain

Kratos wants to create a community of gaming studios and players on their platform

Kratos Studios Allocates Rs 50 Crore Grant To Encourage Games Migration To Blockchain

Outlook Start-Up Desk

POSTED ON November 02, 2023 1:38 PM

Kratos Studios, a gaming platform, has launched a program called Kratos Games Network. The platform is offering a grant of Rs 50 crore to convince other gaming companies to move their games to Kratos's blockchain platform. When games are on Kratos's blockchain, players can earn rewards, which are given in a special token called "Kratos cash." Players can later use this token on the Kratos app. 

The platform is looking to work with established games that have more than 500,000 players who are active every day and are making a profit. By March 2024, they aim to collaborate with about 10 to 15 studios. Initially, the grant will provide the money for the Kratos cash rewards, and later the earnings from the games will cover these rewards. 

Kratos wants to create a community of gaming studios and players on their platform. They are open to studios from all over the world, but they expect about a third of the studios to be from India. In August, Kratos Studios also started operating in Brazil. 

In February, the company raised Rs 160 crore ($20 million) in a funding round. The funding was led by Accel and included investors like Prosus Ventures, Courtside Ventures, Nexus Venture Partners, and Nazara Technologies. 

  • Related Articles

    As an anchor investor for the gaming program, JetSynthesys aims to invest around $200,000 each across more than 25 companies over a 3-year period

    Jetsynthesys Partners With Brinc To Launch New Gaming Accelerator Program

    Online gaming start-ups are coming to terms with the new reality of a tough landscape as government pushes ahead with its plans of 28 per cent GST. With uncertainty over the sector’s future rising,...

    Layoffs, Closures: 28% GST Hits Online Gaming Industry Hard As Authorities Begin Tax Recovery

    Diversifying its product portfolio to limit its exposure to real money gaming made Nazara Technologies a lucrative prospect for investors, funding winter notwithstanding

    How Nazara Managed To Score A Point While Other Gaming Companies Cry Foul