- Loco retrieved $42 million from the series a funding round
- Make great efforts to intensify user engagement with esports creators.
- Avalanche Tweeted that 85% of the top gaming creators on loco.
Loco, an independent esports and live streaming platform from India, has declared that it is establishing its suite of Web 3.0 products, bringing out innovations for a better user experience and making use of Avalanche blockchain. Loco has joined Avalanche Multiverse Incentive program, inaugurating its subnet and facilitating the growth of Avalanche in Asia. This is another example of Avalanche’s rapid expansion in the Asian market.
Avalanche has also announced initiatives with Chinese business giant Alibaba and Japanese appliance manufacturers.
Loco recently raised $42 million, the largest investment in the Indian and South East Asian gaming industry. Loco has also partnered with other gaming platforms such as Krafton, Riot Games, and many more.
This is going to be a big step for the Indian gaming industry, stepping into Web 3.0, and introducing blockchain based products to its audience.
Loco has said in its press release “The Web3 initiates will allow fans to express their fandom and put them in the role of talent managers and scouts, helping them leverage their knowledge and adding a new exciting layer to their watching experience”.
Viewers and users can directly interact with creators and leading figures on the platform, with the aim of building the best esports team and competing with other fantasy gaming platforms. The baubles that dictate the world of metaverses, eg, NFTs, will be “unique”, adding value to them.
Loco is yet to share the details of the Web 3.o services that they are going to offer.
Loco is going to run its own Avalanche radiators, expressing its allegiance to the Avalanche blockchain. The commitment to building an advanced suite of Avalanche blockchain is part of Loco’s efforts to provide the gaming community in India, as well as Asia, with highly immersive and more engaging products that consumers can enjoy.
World wide fantasy games fly rapidly allow players to trade collect & build team. The deal with Avalanche, constructing and securing the subnet to modify the features of the custom blockchain to its applications and expand to a gaming base consisting of millions of users. Reportedly fantasy sports industry to pileup more than $22.7 billion annual revenue. All of this is to be done while keeping the entry and transaction fees to be minimal.