MUMBAI: Mobile gaming company Nazara Technologies Limited (Nazara) has acquired a stake in CrimzonCode, a development studio to enter into Real Money Quiz vertical.
CrimzonCode owns TopQuiz, a quiz game that allows players to win real money. Nazara also picked up a 27.42% minority stake in the company that runs CrimzonCode.
Nazara will be publishing TopQuiz across emerging markets as part of a multi-year partnership with CrimzonCode. TopQuiz enables users to play interesting quizzes around localized topics and stand a chance to win real money.
Top Quiz currently claims over 100,000 monthly active users engage on the application for over 15 minutes per session. Most of TopQuiz users are from Tier 2 and Tier 3 cities and the company intends to scale this to a larger number of users within India and other emerging markets.
Devavrat Jatia founder of CrimzonCode, said: “Quizzing combined with real money has immense potential. Skill based game play around quiz is deeply embedded in the DNA of Indians and now having a chance to put your knowledge to earn money is a huge opportunity for millions of Indians . We believe that having the backing of Nazara as an investor and publisher will provide us with a springboard to launch real money quiz in 61 countries across the emerging markets where Nazara had its presence, as on September 30, 2017.”
Manish Agarwal, CEO, Nazara Technologies, noted: “Quizzing has been very popular with Indians and is a source of clean fun and a booster for self- pride, cutting across age groups; gender and socio economic class. We believe that the team at CrimzonCode has got endorsement from their users in form of high level of engagement and that this opportunity to earn real money combined with the fun of quizzing, is expected to set the Indian market abuzz.”
Apart from Mastermind Sports and HalaPlay, Nazara has also invested in Moong Labs. Nazara acquired Nextwave Multimedia of World Cricket Championship (WCC) fame and NODWIN Gaming.
