CoinVoice has learned that, according to TechCrunch, the Indian social gaming platform STAN has announced the completion of $8.5 million in equity financing, led by the Google AI Futures Fund, with follow-on investments from Japanese gaming giants Bandai Namco, Square Enix, Reazon Holdings, Aptos Labs, King River Capital, General Catalyst, GFR Fund, and others.
The STAN platform allows users to earn in-app currency 'Gems' through competitive games such as (PUBG Mobile), and allows creators to set up chat rooms called 'Clubs', which are customized channels for each game on the platform. Joining these Clubs requires payment of a social currency to access the 'gaming experience' offered by the creators, and the company takes a commission from these transactions. Gems can be redeemed for vouchers on major e-commerce platforms like Amazon, PhonePe, and Flipkart. STAN has surpassed 25 million total downloads on the Google Play Store and Apple App Store, with approximately 5.5 million monthly active users. [Original link]
