Did you know that eSport – a form of organized multiplayer video games – is it fast becoming popular in India?
Indeed, the revenue of the Indian esports market is expected to increase Rs 250 crore in 2021 to Rs 1,100 crore in 2025according to Statistical The data.
Gamers, streamers, professional esports gamers, and fans who play and watch esports are contributing to this growth, along with the huge popularity of games such as Battlegrounds Mobile India (BGMI), Gareena Free Fire, etc.
For the startThe growing esports market offers the opportunity to create a platform for esports fans, game creators and gamers to collect, play and interact with their favorite esports influencers, acquire related collectible games, earn rewards, etc. .
Begins with Parth Chadha, Akshat Rathee, Rahul Singh, Shubham Gupta and Nauman MullaSTAN also allows users to get esports celebrity signed merchandise, have the chance to visit creator or streamer training camps, meet them on Instagram, join them one-on-one in clubs, and more.
The STAN platform is built on top of theblockchain and allows the engagement of its users through fun loopable levels on the platform.
In an interview with History has unfolded Parth says, “Esports players have become celebrities and built a huge fan base with millions of subscribers. We have seen the growing need to connect esports fans with their idols. Until now it was only possible to go to YouTube and donate. to gamers, while Patreon doesn’t focus on games.
He adds: “For STAN, blockchain is the technology that enables trust and ownership of assets, such as officially licensed NFTs of esports players. End users can not only collect these NFTs, but also use them in games on the STAN platform and step up. level to earn rewards.
An illustration of the STAN application
Crossroads of Web3 and sport
STANstarted on 2022lifted up $ 2.5 million during a round table in May.
The tour was led by General Catalystalong with other venture capitalists, including Better capital And Eximius Ventures.
Angels such as Aadil Mamujee ofand Coinbase’s Nakul Gupta also participated in the round.
STAN has yet to launch its full-scale platform, but has already signed on Over 60 big names in the world of Indian esports. Some of them include player names such as Jonathan, 4200P, Roxx, Neyo, Attanki, etc.
Although some Indian startups are exploring business opportunities at the intersection of sports and Web3, STAN appears to be taking a different approach.
The tastes of Rare And fanmania Bet big on cricket NFTs, which are based on real cricketers playing physical sports.
STAN, however, focuses on esports players, the digital counterparts of physical gamers. And in the world of esports, the possibilities are practically endless as players can achieve more in action-packed games like Call of Duty, Fortnite, BGMI, and others. which are not possible in real life.
Transition of the gaming industry to Web3
It is well known that India has a large number of online players. Around 433 million of the 846 million Internet users play in India, but most of them don’t play eSports.
However, with the growing popularity of esports, STAN is looking to capitalize on the influx of esports fans and meet the needs of the existing contingent of players. To do this, Parth admits that a Web3-only approach won’t work.
“Esports games, player NFTs and other assets cannot be bought and sold by cryptocurrency traders. They are aimed at gaming enthusiasts, who don’t really need to know if the assets are tangible or non-fungible. So let’s follow a ‘Web approach 2.5 – where we find the middle ground between the application of traditional Web2 gaming / esport principles and blockchain technology, “says Parth.
What does it mean?
Parth explains that Web 2.5 is an easy way to transfer Web2 esports fans to the world of Web3. On STAN, users can purchase in-game coins by paying in fiat (INR). Then they can use the in-game currency to buy chain items like NFTs.
“This is different from other projects, which typically require users to have a Web3 wallet like MetaMask and connect it to the gaming platform,” says Parth.
After purchasing NFT, users can go out and interact with the STAN universe, which will feature more games over time. With more time spent and achievements unlocked, users can upgrade their NFTs, which they can sell on DAW market – an upcoming initiative.
“Ultimately, STAN has to be both an involvement / utility level and an economic level. So we’re building one game at a time to bring more utility to NFTs, as well as the market to trade them, ”Parth says.
Moving forward, STAN intends to continue growing its community of celebrities and esports fans and unlock various possible revenue channels.
Some of the possible sources of income for STAN include branding opportunities, selling rights to use gaming assets, promoting engagement for Web2 streaming platforms, launching your own NFT collection, and more.