Blockchain Esports Fan Engagement Platform STAN Launches Web3 Community Marketplace in India: Details

STAN allows free trading of NFTs, even for on-chain transfers, in order to drive the trend of trading digital collectibles.

Written by Radhika Parashar, Edited by David Delima | Updated: 23 February 2023 15:34 IST

Blockchain Esports Fan Engagement Platform STAN Launches Web3 Community Marketplace in India: Details

Photo Credit: Stan

In May last year, the platform had managed to bag an equity funding of $2.5 million

Highlights

STAN has roped in exclusive gaming partners for NFTs
The platform does not charge for processing NFT trades
STAN estimates India’s esports industry will grow by 50 percent

STAN, the Bengaluru-based esports fan engagement platform, has announced the launch of a community marketplace on Thursday. The aim of this marketplace is to create a one-stop destination for blockchain gaming fans to trade digital collectibles. These non-fungible tokens, or NFTs, can be traded on the blockchain for free. The community marketplace will provide a liquidity solution to STAN asset holders, according to the platform. The blockchain-based fan engagement service will provide insights that will allow NFT traders to study and analyse what trades will be more profitable than others.

In order to drive the trend of trading digital collectibles, STAN says that it allows free trading of digital collectibles such as NFTs, even for on-chain transfers.

Free Fire creators in India such as PVS Gaming, Rocky and RDX, Madhu Pennem Gaming, Assassins Army, Black Flag Army, Gaming with Laila, TSG Legend, and Non-Stop Army have been roped-in by STAN as exclusive partners. They will introduce NFTs related to their games for the new marketplace.

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The platform is looking to expand the growth avenues for the ‘Web3 x Influencer' economy in India.

“We can't wait to see the esports community in India thrive through our platform. At Community Marketplace, fans will be able to list their collectibles through fixed price sales or an auction effortlessly without paying any kind of trading fee to STAN. As far as the trade is concerned, it will be executed automatically once the price requirements or other conditions of trade are met,” STAN Co-Founder and Product Chief Shubham Gupta said in a prepared statement.

STAN estimates that the number of online gaming users in India could grow by almost 50 percent from 481 million in 2022 to over 657 million by 2025.

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Back in October 2022, STAN announced the roll out of its official NFT and limited digital collectibles (LDC) series.

In May last year, the platform managed to secure equity funding of $2.5 million (roughly Rs. 20 crore) in a funding round. Super angel investors such as Aadil Mamujee from OpenSea and Nakul Gupta from Coinbase participated in this seed round at the time.

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Further reading: Cryptocurrency, Blockchain, STAN, Web3, Blockchain Gaming

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More