Rising Indian esports and streaming platform Loco has teamed up with Avalanche to create innovative fan experiences. Loco will join the Avalanche Multiverse incentive program and is utilizing Subnet technology to achieve its vision.
(To learn more about Subnets check out our deep dive here)
Who is Loco?
Loco is an India-based esports and streaming platform with over 52 million users. Viewers can enjoy game streaming and esports content streamed by India’s leading streamers and esports teams on Loco. The platform is currently available on Android, iOS, and the web.
The company recently raised $42 million, one of the largest investment rounds in the Asian gaming market. Additionally, Loco has also partnered with other gaming publishers like Krafton, Activision Blizzard and Riot Games.
What is Loco building?
Loco will target two key markets with its first Web3 product utilizing subnet technology: collectibles and fantasy sports. The fantasy sports industry is projected to grow to $48B by 2028. Additionally, digital collectibles are the fastest-growing sector of the $400B+ global collectibles industry.
Loco’s initial products will be designed to give back control to the user, bringing collectibles to the fantasy gaming experience. The Web3 initiatives will allow fans to interact on a new level and will put them in the role of talent managers and scouts, adding a new layer to their experience. Users 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. In keeping with Web3 first principles, these collectibles will all have publicly verifiable ownership.
This is a major win for Avalanche as it continues to expand its footprint in the Asian market. For example, Chinese technology giant Alibaba and Japanese gaming trailblazer GREE each recently announced Avalanche initiatives. Like GREE, Loco will run its own Avalanche validators which showcases its commitment to securing and building on the network.
Avalanche has the potential to process over 4,500 transactions per second, making it one of the fastest blockchains on the market. Its consensus protocol and novel Subnet technology enable Web3 developers to easily launch highly-scalable solutions. Developers can deploy on the EVM, or use thier own custom VM.