Indian startup Lysto raised $12 million in the seed round in which they were in the lead square peg, in addition to them, such venture companies as Hashed и Better Capital. The startup will use these funds to develop the business and create tools to verify accounts. the main objective Lysto – standardize the reputation of users playing crypto games and participating in online tournaments.
In November 2021, Lysto raised $3 million in the seed round, in which the companies participated Beenext и Better Capital and then threw in another $12 million. In total, the startup raised $15 million.
Company Lysto, founded in 2021, is dedicated to creating tools and infrastructure for crypto games. Over the past year, the company's team has grown to 25 employees.
In addition, Lysto announced the launch of the Proof of Play (PoPP) protocol, which will allow companies, organizers and other participants in the gaming ecosystem to monitor the reputation and account of the player.
The PoPP protocol works this way, given out as trophies, digital badges, or as in-game tokens. After that, the player shows the PoPP protocols through a special passport in the account.
Solutions like DID, Soulbound, POAP are the old new trend. One use is to solve bot and user reputation issues across multiple applications. In the case of PoPP, the developers have created an alternative for gamers that makes it clear who is in front of you: a normal player or a scammer trying to steal your items from the game or plant a phishing link. We hope that they implement it no worse than the description of the concept.
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