Loco debuts Legends, India’s first NFT platform for esports
Loco, India's fastest-growing live game streaming and esports provider, has introduced "Legends", the country's first non-fungible esports token platform. On the platform, users will be able to own and trade collectible assets, allowing them to grow their fanbases and enjoy the excitement of esports explorers. Legend, in collaboration with Loco, lays the groundwork for game developers to decentralize in order to commit to the country's game-fi ecosystem. Loco Legends made its Indian debut by working exclusively with professional esports teams such as 8bit, s0ul, Godlike, Revenant, Blind, and XO. These top Indian esports teams dominate popular games such as BGMI, FreeFire Max, and Valorant and offer fans the most dependable NFT experience. With 52 million users, Loco has the largest and most active gaming community in each of these categories. Loco has also developed a proprietary data system that powers the Legends. The system makes use of information gathered from Loco's extensive tournament schedule. Loco has also formed alliances with top esports tournament organizers such as Villager Esports and Upthrust Esports to guarantee that its data platform is also a top-tier data pipeline. Loco NFT e-sports cards NFT e-sports cards, which combine non-fungible tokens (NFTs) with free-to-play esports fantasy gaming, will be among the first Loco Legends assets. Users can buy and sell NFT trading cards among themselves and participate in free-to-play fantasy pools. Loco is also engineering a one-of-a-kind audience engagement in which users can get intimate with their heroes, create actual connections, and improve their visual experience by collecting, possessing, and trading these limited edition digital collectibles. Each owner will have a limited number of NFTs exclusively available to them. "As a fan, you'll get to own virtual merchandise or NFTs and the person can be a part of a game which utilizes these NFTs," said Loco co-founder Anirudh Pandita. Loco is also the first company in India to develop a huge consumer system based on NFT and Web3. "We are passionate about the potential of Web3 to empower creators and create new fan experiences in the gaming community," said founders Anirudh Pandita and Ashwin Suresh in a comment. They are also planning to provide a user-friendly experience so that users can benefit from the power of Web3 without any complications. They are also confident in the ability of their partnership to assist them in achieving this goal. "Gamers are the earliest adopters of new technology and our community has shown a strong acceptance for these initiatives. We are excited about providing users an easy-to-use experience so that they can enjoy the power of web3 without dealing with the complexities that other products are often plagued with." "We are also pumped about the partners we are bringing with us and the experiences that these partnerships will help us deliver to users. Our team firmly believes that this is a unique opportunity to unlock a new paradigm in gaming and this product is the first step in our roadmap." The first 1,000 people who sign up for the waiting list will receive Rs 500 in free NFTs. Because NFTs can be purchased with regular currency, they are more accessible to a broader range of people. Loco is now available for download on Android, iOS, and the web. Monthly active streamers have increased fivefold since January 2021, and live watch hours have increased 78 times. The company currently employs 85 people, and the count will undoubtedly expand in the future.
The World of Gaming online
Take a closer look at online gaming with our guide to this global phenomenon
Gaming online has seen a massive increase in popularity over the last few years, largely down to the way that mobile phone technology has developed. The numbers of people who play online games has risen massively. Almost everyone you know, including people over the age of 40 who are not necessarily the first people who spring to mind when you mention online computer games, will have played some form of online game in the last few weeks.
This has been partly due to social media, of course, which provides accessible platforms where almost anyone can find games to play that suit their lifestyle and interests. Sports games have become very popular, while we have all heard about games like Candy Crush.
Other types of online computer games remain very popular with younger people who like to play online games. Massive multi-player online games, often referred to as ‘MMOs’, remain hugely popular. World of Warcraft, for example, has become a cultural phenomenon that extends far beyond people’s computer screens or gaming mobile phones and has spawned books, a movie and other cultural products.
Here, we will take a closer look at the world of gaming online and at some of the gaming trends associated with it.
What is gaming online and how do you get started?
Even if you have no interest at all in the digital world or technology, the chances are pretty high that you will have heard of online gaming. It is, of course the act of playing games on the internet. There is tremendous variety in the number and types of games that you can play online nowadays, though. From retro arcade games, to intellectual puzzles, to role playing games, to traditional board games like Scrabble, you really can play almost anything you want online these days.
According to Juniper Research’s published white paper, the numbers of people who now play online games regularly is huge. The Newzoo 2018 Global Games Market Forecast stated that mobile gaming and mobile games has been raising online casino revenue. The proportion rose from 18% in 2012 to 51% by 2018. The Newzoo report also predicted that this trend will continue, and it expected gaming online to contribute up to 59% by 2021.
There are also significant geographical trends in the world of online gaming. In November 2018, China made up almost 28% of global mobile gaming revenue, according to tech website iWeb. Japan is another country which makes a massive contribution to the wealth generated by gaming online. A big role in this is played by the way that gamers in Asia have moved away from their computer screens in recent years and started to use gaming mobile phones.
Online gaming and esports betting
It is possible now to pick up skins during online gaming which can be used to bet on esports. Skins are items that improve the cosmetic appearance of your character in some online games. They do not usually have any effect on the actual gaming performance of the character. They are a particular feature of games like Counter Strike: Global Offensive and Defense of the Ancients 2.
Gamers soon found another use for these skins as competitive esports grew in popularity over the last decade. As esports became more popular, increasing numbers of people wanted to bet on the matches and events for games like CS:GO, Dota2 and the International tournament.
While the betting companies were lagging behind demand, many gamers started betting using the skins that they had collected from their own gaming activities. This allowed gamers to use their skins as a kind of cryptocurrency for betting.
It is also possible to sell skins for real money, something that means successful esports skins bettors can actually make some genuine profit from their betting. It will be interesting to see how the concept of skin betting develops in the online computer games world in the years to come.
While we have not been able to cover the entire vast breadth of the topic of gaming online in this article, you now have a snapshot picture of this vast phenomenon. As 5G technology develops and becomes more widespread, we are sure to see more new and exciting developments in the world of online gaming. More powerful, faster gaming mobile phones are sure to arrive on the market too.
As the number of games to play increases new gaming trends are sure to emerge in the years to come, especially with the advent of 5G. Concepts such as virtual reality are sure to have an impact too, especially on the world of esports and esports betting. It is an interesting time to be alive for all fans of online gaming across the world!
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