<

Indian Streaming Platform Loco Expands Avalanche’s Footprint in Asia

In the latest news, Loco, a leading independent esports and live-streaming platform from India, has joined the Avalanche Multiverse incentive program and launched a custom Avalanche Subnet to expand Avalanche’s rapidly growing footprint in Asia. The company has recently raised $42 million in one of the largest Series A rounds in Indian and South East Asian gaming history. As part of its effort to bring innovative fan experiences, Loco is building a suite of Web3 products that will utilize its custom Avalanche Subnet.

Loco’s Avalanche Subnet and ongoing product campaign reflect the company’s commitment to building on the network and mark yet another new chapter in Avalanche’s rapid expansion in Asia. Recently, Chinese technology giant Alibaba and Japanese gaming trailblazer GREE also announced Avalanche initiatives. Similar to GREE, Loco will run its own Avalanche validators, showing a deep commitment to securing and building on the network.

Loco’s first Web3 product will target two key markets: collectibles and fantasy sports. The fantasy sports industry generated over $22.7 billion in revenue in 2022, and digital collectibles are the fastest-growing sector of the $400+ billion global collectibles industry. However, despite this explosive growth, fantasy applications have not fully utilized the Web3 opportunity.

Loco’s initial products will aim to give control back to the user, bringing collectibles to the fantasy gaming experience. The Web3 initiatives will enable fans to express their fandom and put them in the role of talent managers and scouts, allowing them to leverage their knowledge and adding an exciting new layer to their viewing experience. Viewers who enjoy watching their favorite creators can now directly engage in the action by building the best entertainment roster or esports team and competing with other fans in fantasy games on these platforms. These collectibles will be unique, scarce, and have publicly verifiable ownership.

Loco has chosen Avalanche for its Subnet functionality, high performance, and reliability. By building on Avalanche, Loco can provide the Indian gaming community with high-engagement, fun products that they can own. An Avalanche Subnet allows Loco to customize the properties of a custom blockchain to its apps and scale to a user base of hundreds of millions of customers, while keeping network fees and transaction latency low.

With the recent upgrade to Avalanche Warp Messaging (AWM), Loco’s users will also be able to freely trade Loco Legends collectibles with other assets on Avalanche. Additionally, Loco will receive support from Ava Labs through the Multiverse incentive program, helping launch its collectibles marketplaces.

Co-founders of Loco, Anirudh Pandita and Ashwin Suresh, expressed their excitement about the partnership with Ava Labs, stating that they are aligned with Avalanche in their vision of bringing fun games to millions of users. John Wu, President of Ava Labs, also commented on the partnership, stating that pioneers like Loco are breaking new ground with ways to use digital collectibles for both fan engagement and applications layered on top that were previously not possible.

Avalanche is the fastest and most reliable smart contracts platform in the world, enabling Web3 developers to easily launch highly-scalable solutions with its revolutionary consensus protocol and novel Subnets. Loco, on the other hand, is dedicated to democratizing gaming entertainment and is the world’s leading independent esports and live-streaming platform. Popular game categories on the platform include BGMI, Call of Duty Mobile, Valorant, and GTA 5. The platform has also partnered with giants such as Krafton, Activision, Ubisoft, Riot Games, Red Bull, and NBA 2K League and Logitech – G, bringing unmatched entertainment experiences to Indian gaming audiences. Currently, Loco is available on Android, iOS, and the web.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS