Lysto
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Lysto was a Bengaluru and Singapore-based web3 infrastructure startup founded in 2021 by Sadiq Ahamed and Iqbal Ahmed. It built APIs, tools and infrastructure to create and distribute NFTs and on-chain credentials for gamers, including its Proof of Play Protocol (PoPP) for standardizing gamer reputation across games and tournaments. The company raised $15 million across two rounds from investors including Tiger Global, Square Peg, BEENEXT, Hashed, Better Capital and Cloud Capital.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Founded and seed funding
Lysto was founded in 2021 to build NFT infrastructure for gaming and entertainment, and raised a $3 million seed round from BEENEXT, Better Capital and Cloud Capital with angels including Binny Bansal and Kunal Shah.
- Pre-Series A funding
Lysto raised a $12 million pre-Series A round co-led by Square Peg, BEENEXT and Hashed, with participation from Tiger Global and Better Capital, to build its Proof of Play Protocol for on-chain gamer credentials.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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