Indian game streaming platform, Loco partners with Avalanche
No other network could have probably been best suited to handle a large number of fans. One hundred sixty-five thousand are already on the waitlist to try Loco Legends, and the number is only expected to go up. What brings Avalanche and Loco Legends together is Loco moving ahead with the construction of the NFT marketplace on Avalanche.
The network is sure to benefit from having over 50 million users. eSports fans are more likely to have a new venue for entertainment. Loco already rides high by hosting approximately 85% of gamers across the globe. Plus, it has seen a growth of 900% in recent days in the number of active users. Even though Loco Legends targets the Indian market majorly, it would soon go on to span across the world with the major benefit of allowing creators to engage with their Superfans.
Restrictions are pretty much a dot as of now since more features will be shared in the days to come. For instance, showcasing pack drops will have a few more pieces of information to explain how it intends to benefit everyone in the community. The development was announced by Avalanche through its official tweet.
Loco, the LARGEST eSports streaming platform in India, brings its 50+ million users to #Avalanche with the launch of @LegendsByLoco, an NFT marketplace for esports fans worldwide.
Loco Legends aims to revolutionize fantasy games on Subnets. @GetLocoNow #ChoseAvalanche pic.twitter.com/Q8i74Kh8jR
— Avalanche 🔺 (@avalancheavax) February 21, 2023
Loco Legends carries the aim of revolutionizing the fantasy game segment on Subnets. It is currently backed by recently raised funding worth $42 million in Series A. This has been termed the biggest Series A funding in the history of India and the Southeast Asian gaming industry. Also, firms that are backing Loco for its new initiative include, but are not limited to, Riot Games, Activision Blizzard, and PUBG.
The amount and partner names suffice the statement that Loco Legends is here to capture a larger share of the market. Not just the funds but the fact that it has seen such a huge growth in active users speaks volumes about the level to which it can grow.
Fantasy Sports has been around for a long time; however, it is ventures like Loco that have stepped up the game for a better offering and an enhanced user experience. Betting on eSports has become rather easier and fun since community members participate from different parts of the world, with all of them receiving the entertainment of building, trading, and collecting their teams for a competition.
The industry has generated more than $22.7 billion in annual revenue, further making the Fantasy Sports segment a stronger player in the world.
According to the announcement by Avalanche, at least 165,000 players are waiting to get on board with Loco Legends. The waitlist will only go on to include more players since the doors are open for anyone to register. Several community members have welcomed the move saying that it is a great tech fit for high throughput. Others have even said that more gamers are willing to join Loco Legends soon.