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Loco Uses Avalanche Blockchain

Loco Plans to Use Avalanche Blockchain for its Esports and Streaming Services

Interesting developments are happening in the Asian Web3 community as Loco joins hands with Avalanche. The partnership between India’s Loco and Avalanche will create esports and streaming services using Avalanche’s blockchain technology. Loco is an Indian game streaming platform that will now utilize blockchain technology to enhance user experience. The company joins the Avalanche Multiverse incentive program and will also launch a subnet resulting in Avalanche’s further expansion.

Loco Web3 Plans

Loco is currently developing a range of Web3 offerings that aim to provide fan experiences through the custom Avalanche Subnet. With a recent successful Series A funding round, which amounted to $42 million, Loco now holds the title for the largest Series A round in Indian and South East Asian gaming history. Furthermore, the platform has established partnerships with renowned gaming publishers such as Krafton, Activision Blizzard, and Riot Games.

Loco\’s ongoing product campaign and the deployment of its Avalanche subnet signifies yet another noteworthy development in the rapid expansion of Avalanche in Asia. This expansion has been further supported by recent announcements from Alibaba, the Chinese technology giant, and Gree, the Japanese gaming trailblazer, each detailing their own Avalanche initiatives.

Similar to Gree, Loco has made a significant commitment to the network\’s security and growth by operating its own Avalanche validators.

Loco Focuses on Fantasy Sports and Collectibles

In 2022, the fantasy sports sector produced more than $22.7 billion in revenue, and industry experts predict that this figure will reach $48 billion by 2028. Meanwhile, digital collectibles have emerged as the most rapidly expanding segment within the $400 billion global collectibles market. Despite this significant growth, fantasy sports applications have so far not fully embraced the potential of Web3 technology.

Loco\’s first set of offerings will prioritize user autonomy and enable the integration of collectibles into the fantasy gaming experience. By leveraging Web3 technology, Loco aims to provide fans with greater agency. It will enable them to serve as both talent managers and scouts. This will add a fresh and engaging dimension to their viewing experience, allowing them to utilize their knowledge and demonstrate their fandom.

Audiences can now directly engage with their preferred creators. It is doable by assembling superior entertainment rosters or esports teams and participating in fantasy games on the platform. Collectibles that are exclusive, rare, and with publicly verifiable ownership will be integral to this experience.

Loco Choosing Avalanche Over Others

By utilizing the Avalanche subnet, Loco can customize the blockchain properties for its applications. Moreover, it can efficiently serve a massive customer base while keeping network fees and transaction latency minimal.

“We are excited to begin 2023 with this partnership with Ava Labs,” shares Anirudh Pandita and Ashwin Suresh, cofounders of Loco, in a statement. “We are aligned with Avalanche in our vision of bringing fun games to millions of users. These skill-based games will allow fans to deepen their connection with their favorite creators. Additionally, it will help amplify the enjoyment they derive from watching digital content. Our endeavor is to provide users with reliable and secure platforms to store, buy, and sell digital assets while ensuring that the user experience is simple yet fun.”

Following the latest upgrade to Avalanche\’s Warp Messaging (AWM), Loco\’s users will enjoy benefits. These will include freely trading Loco Legends collectibles alongside other assets on the Avalanche network. Furthermore, Loco will receive support from Ava Labs via the Multiverse incentive program, facilitating the successful launch of its collectibles marketplaces.

Ava Labs on Partnership with Loco

“Web3 gaming is a fantastic use case for Avalanche Subnets as the only solution capable of consistently handling heavy traffic without causing user experience to suffer in the form of long wait times or high fees,” said John Wu, president of Ava Labs, in a statement. “Pioneers like Loco are breaking new ground with ways to use digital collectibles for both fan engagement and applications layered on top that was previously not possible.”

Avalanche prides itself on being the world\’s quickest and most dependable smart contract platform. It provides companies with the option to deploy their solution using the Ethereum Virtual Machine or a customized solution of their own.

Loco has partnered with Krafton, Activision, Ubisoft, Riot Games, Red Bull, NBA 2K League, and Logitech G. It is available on Android, iOS, and the web.

Play to Earn Gaming News

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Ascenders Game Review

Ascenders Game Lore

Uncover the mystery of an alien world in this AAA game set in a not-so-distant future. Engage in a captivating story as humanity lands on an enigmatic planet during their first wormhole jump. Explore stunning landscapes and face hidden dangers as you establish settlements on this uncharted world with no way back.

Embark on an adventure in a new world where survival is key. Players will have to craft new weapons and gear to overcome the challenges of this new world. As you build new cities and colonies, you will also manage an economy driven solely by players. Your ultimate goal is to either repair your seedship and return home or to settle permanently in this new world. Expand, fight and settle your way to success.

In addition to the main campaign and storyline, players can also take on side missions in the vast and dangerous world of Ascension. The unknown land is full of dangers and hostile native creatures that will attack outsiders on sight. Players can assist a variety of beings beyond humans as they explore and complete these side missions, adding depth and variety to the gameplay experience.

The Ascension world is filled with important locations that players must explore. These include the Overworld, the Seedship, Remnants of runes and abandoned settlements, and Outposts of alien settlements. Each of these locations holds unique challenges and opportunities for players to discover.

Ascenders Governance Council

The game features two types of tokens, the AGC Governance token and the GG currency token. Players will use AGC tokens to participate in the governing council and make decisions that shape the colony. By acquiring AGC tokens, players can play a role in the governance council and work with other members to make decisions that benefit humanity in the game world.

Ascenders Game Economy

In addition to the AGC Governance and GG currency tokens, the game also features a player-driven economy. Players have the ability to craft and manage a wide range of in-game items, and trade them in player-owned smitheries or on player-owned land. The game\’s guilds also operate on a decentralized basis, with memberships granted using their own guild tokens, adding to the immersive and dynamic economy experience.

Ultimately, the game\’s economy is managed by a decentralized autonomous organization (DAO). This system has the potential to evolve the game into a metaverse, where players can build and govern a fully functioning civilization. It all begins with the seed of an idea and the potential to grow into a dynamic, player-governed economy model.

The game offers various opportunities for players to participate in its economy, catering to different playstyles. Players can choose to focus on combat, exploration, or building. As an explorer, players will engage in tasks such as collecting resources, farming, and making steady progress. However, their activities will be limited to the Overworld. In contrast, fighters are focused on acquiring powerful gear, competing on leaderboards, and raiding dungeons to gather rare resources in the Remnants.

Finally, builders approach the game with a long-term perspective, acting as investors. They will own NFT lands, analyze market trends, and make strategic decisions on which buildings to invest in. Builders play a crucial role in the game\’s economy as their decisions can have a significant impact on the overall economy of the game.

The development roadmap for Ascender is not based on a specific timeline, and the game is set to launch in its final phase, phase 8.

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Avalanche partners with Amazon

The Avalanche Amazon Partnership

Avalanche announced an official partnership with Amazon Web Services, with the goal of promoting institutional adoption of the cryptocurrency market. The partnership will work towards this goal.

The partnership between Avalanche and Amazon Web Services marks the first time a blockchain company has teamed up with Amazon\’s cloud computing platform. The impact of the partnership was immediate, with AVAX\’s price increasing by over 13% upon its announcement.

The partnership between Avalanche and Amazon Web Services is expected to bring significant benefits to the blockchain industry in the future. This partnership will allow big business firms to access blockchain solutions, as Amazon Web Services will now offer Avalanche\’s blockchain services to its vast customer base.

What this Partnership could mean for Web3?

The partnership between Avalanche and Amazon is a major milestone for the Web3 technology and will drive significant growth in multiple ways. As a household name and with a global reach, Amazon\’s services are used by millions of people every day. This partnership will expose more and more people to blockchain technology as Amazon operates in over 100 countries. Additionally, the partnership extends beyond Amazon Web Services, as Avalanche is also a member of the Amazon Partner Network (APN). This partnership will give access to a wide range of Amazon\’s services and products.

The partnership between Avalanche and Amazon Web Services will provide AWS users with access to the Avalanche blockchain network, which offers high scalability, low cost, and fast confirmation times. This platform will enable companies to launch their own stablecoins and blockchain-based payment processing systems. Additionally, AWS users will have the ability to use digital asset management features, allowing them to create and manage custom tokens. This partnership will open up a new world of possibilities for businesses looking to leverage the power of blockchain technology.

Good News for Avalanche Nodes Investors

The partnership with Amazon Web Services will greatly benefit Avalanche, particularly its Avalanche Nodes. The decentralization aspect of the partnership is crucial and the Avalanche Nodes play a vital role in it. The partnership will bolster the Avalanche node network by making it easily accessible to people around the world. This will result in a more diversified and distributed network, increasing its integrity and validity. Overall, the partnership will help to increase the reach and impact of the Avalanche network.

The Avalanche Node validation process is secure as it does not require users to enter their private keys, ensuring users\’ cryptocurrencies are protected even if a hacker breaches the cloud processor used for validation. This partnership is beneficial for both Amazon and Avalanche users, as it allows them to set up Avalanche validator nodes. By managing an Avalanche validator node, users can receive financial rewards. Additionally, the Avalanche Validator Node will also serve as a validator for subnets in the ecosystem, resulting in rewards in native tokens of those subnets. This partnership will bring benefits in terms of security and financial rewards for the users.

To join the Avalanche Node management team, one must hold a minimum of 2,000 AVAX, equivalent to more than $30,000.

The Future of Avalanche and a Word of Caution

Avalanche had a promising start, being referred to as an \”Ethereum killer\” due to its superior features and early success. However, the collapse of Terra\’s ecosystem resulted in a setback for Avalanche. But the recent partnership with Amazon is a promising indication that Avalanche is poised to take off again. Additionally, Shopify has adopted Avalanche NFTs, and Ledger is also rebuilding Avalanche apps to store cryptocurrencies and use dApps. These partnerships are showing a positive impact on the Avalanche ecosystem.

While it is common for large tech companies and conglomerates to acquire smaller ones, the partnership between Avalanche, a decentralized blockchain company, and Amazon, known for its centralization, is unusual and intriguing. It remains to be seen how this partnership between a centralized and decentralized company will play out in the long term.

Check out our easy-to-understand guide on crypto wallets. Keep visiting us for more on blockchain news.

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