The Avalanche network is looking to bring 50 million new users into the cryptocurrency world through its recent partnership with Loco. Loco is one of India’s leading gaming and streaming companies that is aiming to be present in Web 3.0.
According to Valex and quoted by Crypto Globe, Avalanche’s new business partner recently managed to receive 43 million dollars from investors in the largest round of fundraising (Series A) in Southeast Asia in the field of gaming. This company has powerful partners such as Activision Blizzard, Riot Games and PUBG.
According to this company, 85% of the world’s biggest game developers are present on this platform. The number of Loco users has increased by 900% in the last 12 months.
The platform wants to allow content creators to interact with fans during their live broadcasts. The company specifically targets the collectibles and fantasy sports market. Fantasy sports games are a growing segment of the gaming industry, generating more than $22.7 billion in revenue last year.
According to Loco, digital collectibles are the fastest growing in the $400 billion collectibles industry. Now, with its first products, Loco aims to return control to the user and add collectible items to the fantasy sports gaming experience.
These new initiatives, which will be made possible with the help of blockchain and web 3.0, will give fans the opportunity to act as talent managers in digital clubs and improve their game watching experience with the next new addition.
Loco has partnered with Avalanche Subnet to provide fun products to the Indian gaming community. This feature will allow Loco to create its own network with its own configuration while keeping transaction costs and latency low while supporting the needs of millions of users.
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