Glance has acquired India’s Gambit to bring NFTs to its Mobile Games

The Google-backed firm Glance has acquired the Indian firm Gambit as it looks to enhance its mobile games offerings by introducing NFTs to its Gen-Z users.

Co-founder of the InMobi Group and COO of Glance, Piyush Shah has confirmed the acquisition. However, he has declined to share the financial terms of the deal. Shah stated that the acquisition will help the Jio Platforms-backed firm bring live game shows and NFT-based incentivization to its users to improve their gaming experience.

“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?” said Shah.

Gaming is the company’s latest focus as it partners with phone makers to bring media, entertainment, and news to its users’ handsets. The startup has an online presence on over 400 million devices, as it piloted games on its platform that found immediate acceptance among its 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.

Shah has declined to specify which blockchain the company is using to launch its NFTs. He noted that Glances’ web3 push is in its infancy as it has been evaluating the space for over nine months.

He also added that the startup plans to partner with gamers, gaming firms, and influencers as the NFTs 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 said.

“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.

The latest firm from India to expand into web3, Glance, is currently valued at $1.7 billion.

Source: TechCrunch