Exploring the inspiring journey of Manish Agarwal, Founder of Kratos Studios and former Nazara CEO.
“Time’s wheel runs back or stops: Potter and clay endure.”
In these ageless lines from Robert Browning’s Rabbi Ben Ezra, the potter and clay find themselves as eternal companions.
“My leadership style is akin to that of a potter,” says Manish Agarwal, a luminary in the gaming industry, Founder of Kratos Studios, and former CEO of Nazara Technologies.
Agarwal mirrors the sculpting process, wherein external pressures serve as catalysts for growth, while internal nurturing becomes the crucible for individual development.
Renowned for his entrepreneurial zeal, persistent pursuit of unexplored or niche domains, and an unwavering optimism for problem-solving, his leadership is a testament to the ability of shaping both ventures and individuals.
He has been Influenced by the core values instilled by his father, values that have acted like a ‘North Star,’ and helped Agarwal make decisions based on strong principles throughout his career.
Armed with a mechanical engineering degree from IIT Warangal and an MBA from IIM Ahmedabad, Agarwal embodies the essence of diverse experiences and mentorships that mold great leaders.
You know that great leaders have different experiences and cool mentors that make them awesome? Well, Agarwal is just like that. He learned a bunch of cool stuff from two organizations, Reliance Entertainment (Digital) and Hindustan Unilever Limited, where he started his career.
At Reliance Entertainment (Digital), he learned about being responsible and caring for others. It’s like having the power of responsibility combined with a big heart. And at Hindustan Unilever Limited, he saw how leaders make everyone feel strong and important, no matter what’s going on. It’s like leadership with a superhuman touch.
Agarwal sums it up in a cool way: “Reliance Entertainment (Digital) taught me the strength of accountability with empathy, while Hindustan Unilever Limited exemplified leadership through empowering people in every circumstance. Both institutions shaped my understanding that true leadership harmonizes accountability with empathy and empowers through genuine human connection,” he says.
Cracking the enigma: An entrepreneur’s quest to solve the unknown
Agarwal calls himself an ‘entrepreneurial junkie’ as he loves taking risks and being extremely positive even when things are uncertain.
“Sticking around, grinding through challenges, and succeeding in the unknown has been my greatest confidence booster” says Agarwal.
He enjoys exploring new things and solving mysteries. But once he figures something out, it loses its appeal, and he gets restless.
“Optimism fuels the choice to embrace a positive circle, especially when navigating uncharted territories. In the journey of solving unknowns, every experiment becomes a journey, where even nine out of ten failures are not setbacks but becomes the steppingstones for future learning and growth,” Agarwal says.
Agarwal always wants to solve new problems. Even if he figures something out today, he’s excited to find five more different things to solve tomorrow. “That’s what keeps me going, and that’s the heart of being an entrepreneur,” he says.
Throughout his career, whether starting his own company or working at big companies like Microsoft or Unilever, Agarwal has always taken ownership of his roles. This mindset helped him to be more creative, and better at solving problems.
Instead of thinking he’s achieved ultimate success, he sees himself as a forever student. He loves learning new things and taking on challenges in areas he hasn’t explored before.
“Desire of building something, is always good. And when I reach a level where it can be operated in autopilot mode, I start something new. I don’t think I’ll ever be at the peak of it because I always like to come to the ground in trenches and build again and again,” Agarwal says.
He firmly believes that within a team’s daily practices, genuine traits such as intellect, intensity, and intent will naturally emerge, allowing individuals to showcase their uniqueness.
“I demand the best, pushing for excellence, yet offering unwavering support—a safety net in the storm of challenges. I believe in baptism by fire, for therein lies the forge of true learning,” he says.
‘Game’ changing moment
When Agarwal joined the role of CEO at Reliance Entertainment Digital, he encountered numerous struggling businesses within the group. Despite feeling cornered after taking a significant risk in his career by accepting the CEO position, he was convinced that mobile gaming was poised for substantial growth.
Rather than retreating to a more secure corporate path, Agarwal chose to make his mark by establishing mobile gaming within the organization. He faced uncertainty but was determined to create something meaningful.
“I entered the gaming world not out of choice but by serendipity,” says Agarwal.
Despite lacking prior knowledge in game development, he saw a decade-long opportunity and believed in success with the right team and strategy.
His decision was driven by intuition and a determination not to abandon the challenge.
The turning point came when Agarwal’s gaming studio in India successfully crafted games for the US market.
“This event marked my turning point. The experience taught me to fearlessly leap into uncharted territories, with or without a safety net,” he says.
Web3 adventure with Kratos
Agarwal along with early-stage investor Ishank Gupta, stepped into the world of web3 and blockchain by launching Kratos Studios early last year.
Their main goal is not just to achieve high valuation but to make a real impact on the lives of gamers, developers, and brands. They want Kratos to be so valuable that its absence would be deeply felt, aiming to add significant value to people’s lives.
From January to October of 2023, the platform generated nearly INR 7 crore in income in India alone. Top gamers earn around $300 a month, totaling $24,000 annually, while an average of 1,000 gamers make $25 to $20 per month. Agarwal feels fortunate to follow his passion and wants to create similar opportunities for millions.
“For gamers, it’s like finding their Ikigai—blending their love for gaming with the chance to gain fame and earn money. Gaming allows them to pursue their passion, bring pride to their families, and build a career,” Agarwal says.
Like the enduring bond between potter and clay, Agarwal sees every venture as an experiment with different outcomes, focusing on reflection, fragmentation, and applying results. He believes in a ‘recursive core loop’ that drives progress.
According to him, entrepreneurship is not just about starting businesses but a constant journey to solve mysteries, staying optimistic, and learning from every challenge.
