Loco, a prominent autonomous live-streaming and e-sports company, is developing a package of Web3-focused products to offer exclusive fan experiences with the use of a custom subnet on Avalanche. Recently, Loco collected up to $42M in one of the biggest Series A funding rounds in the history of gaming across India and South East Asia.
Loco Releases Avalanche Subnet to Offer Exclusive Fan Experience
The platform has additionally collaborated with the rest of the gaming publishers such as Riot Games, Activision Blizzard, and Krafton. The Avalanche Subnet of Loco and the current product campaign denote another exclusive phase in Avalanche’s roadmap to expand across the Asian region. A Japan-based gaming giant GREE and a Chinese tech player Alibaba have declared initiatives in collaboration with Avalanche.
Loco, just like GREE, will operate its separate Avalanche validators displaying a comprehensive pledge to constructing on the network. The market of Fantasy sports collected a revenue of more than $22.7 billion in the previous year. This figure is anticipated to rise to approximately $48 billion by the year 2028.
The most rapidly increasing sector comprises digital collectibles with a worldwide industry of above $400 billion in collectibles. Despite this huge expansion, fantasy applications have mostly remained unsuccessful in seizing the opportunity related to the Web3 space. The earliest products of Loco will be structured for the fantasy-based gaming experience.
The Collectibles Will Have Verifiable Ownership
With the Web3 initiatives, the fans will be permitted to display their fandom with the addition of an exclusive layer to increase the watching experience. The viewers engaged in watching preferred creators can also straightly take part in the action by developing the finest e-sports team to compete with the rest of the fans. In addition to this, the collectibles will be exclusive and rare. They will also possess openly verifiable ownership.
