Loco collaborates with Avalanche subnet to launch its first Web 3 products
- Megha Murty
- February 22, 2023 (UPDATED: February 22, 2023 21:14 IST)
Streaming platform Loco is next in line to explore the Metaverse- announces collaboration with Avalanche subnet on 21st February. Check out the details here.
Loco is one of the leading streaming platforms of India when it comes to gaming and esports. However, Loco too has now recently announced that they’ll be venturing into Web 3.0. They are collaborating with Avalanche subnets for the same. Here are all the details you need.
Loco stepping into Web 3
Loco announced yesterday that they are currently working on building Web 3.0 products in collaboration with Avalanche Subnet. Avalanche is the platform that Loco will be using to build their own custom blockchains. Loco has joined the Avalanche Multiverse incentive program to introduce apps and other “innovative fan experiences” with digital collectibles for users. What now follows, is that Loco has turned to Fantasy Gaming and Sports to execute this.
Loco's Web 3 Products- Details
Loco writes in their press release, “The Web3 initiatives will allow fans to express their fandom and put them in the role of talent managers and scouts, helping them leverage their knowledge and adding a new exciting layer to their watching experience.”
Viewers will also be able to directly engage with creators and other celebrities on the platform “building the best entertainment roster or esports team and competing with other fans in fantasy games on these platforms.” As for the collectibles, as dictated by customs of the metaverse, they will be “unique”, “scarce”, adding value to them, and will have “publicly verifiable ownership”.
Loco still has not shared launch details for this Web 3 service of their's that they revealed yesterday.
While the question of getting into Web 3.0 is up for debate within the gaming industry, a number of companies already have made public their affirmative decisions. These include the likes of giants like Ubisoft and Krafton. As for Loco, it is a highly popular streaming platform in India, having partnered with companies like Krafton, Activision and Riot Games to stream BGMI, Call of Duty Mobile and Valorant tournaments. Regardless, this is a big step for this India based company to step into Web 3, and introduce its audience to blockchain based products.