STAN, a blockchain-based e-sports fan engagement start-up has raised an equity funding of $2.5 million in seed funding round.
The round was led by Venture Capital (VC) firm General Catalyst, alongside other VCs including Better Capital and Eximius Ventures. It also saw participation from multiple super angels such as Aadil Mamujee from Opensea, Nakul Gupta from Coinbase, among others.
The amount raised in this round will be utilised by STAN to provide experiences to today’s gaming and esports fans worldwide by launching its flagship platform, as well as to extensively partner with a plethora of top gaming organisations and players across India and other countries in parallel. The funds will also be used for the growth of the team in the near future by onboarding design and tech talent.
Parth Chadha, Co-Founder, said “We are attempting not just to enhance overall engagement in the e-sports fan ecosystem, but also to allow the creators and players to unlock new and innovative ways to interact with their fans, provide collectibles and NFTs and build thriving communities around popular esports titles and games.”
The Bengaluru-headquartered start-up aims to focus primarily on the popular Battlegrounds Mobile India (BGMI) and FreeFire titles and strive to bring together communities, drive unique player-fan interactions, and create collectibles and perks including NFTs.