Bengaluru-based, Gaming platform, Lysto has secured over INR 95 Crore ($12 million) in pre-Series A funding led by Better Capital. The round also saw participation from some gaming and crypto investors such as Square Peg, BEENEXT, Tiger Global Management, along with angel investors such as Binny Bansal (founder, Flipkart), Balaji Srinivasan (ex-CTO, Coinbase), Paul Veradittakit (partner, Pantera Capital), Bobby Ong and TM Lee (co-founders, CoinGecko) among others.
Lysto previously raised $3 million in its pre-seed funding round from BEENEXT and 12 more investors participated in this round.
Lysto announces a ‘Proof of Play Protocol’ (PoPP) to standardize gamer credentials and reputation across the industry. Depending on the use case, these can be issued by games and tournaments or even auto-generated by gamers in the form of trophies, game and social badges, game-tester tokens, etc.
Founded in 2021 by Sadiq Ahamed, Lysto provides tools for creating and selling NFTs. Moreover, it provides solutions to industries such as e-commerce, gaming, entertainment, and animation, among others.