Loco, a trailblazing independent platform, is taking India and Southeast Asia by storm in esports and live-streaming. With a staggering 55 million registered users in 2020, Loco has firmly cemented its position as a leading player in the region. But what sets Loco apart from the rest? From adrenaline-pumping gaming action to engaging live-streaming experiences, Loco offers various entertainment options for casual and hardcore gamers. In today’s Subnet Spotlight, we delve into the world of Loco, discover why it’s the go-to platform for esports and live-streaming enthusiasts across its region, and determine why it will likely make a substantial impact around the world.
Loco’s Key Solution
Online gaming is a popular pastime in India. However, it was not until 2019 that the country’s mobile phone networks were powerful enough to support gaming on a massive scale. Then in early 2020, the COVID-19 pandemic happened, and due to mandatory quarantine, people turned to games for entertainment. This led to a grassroots movement calling for a platform to support their new hobby, and Loco answered the call.
Loco aims to be the ultimate destination for gamers in India and surrounding regions, helping beginners grow into gaming superstars. They also want to enhance the fan experience by allowing spectators to interact with streamers and build a strong community. No longer will streaming spectators be just another face in the crowd!
What challenges do they face?
Loco faces stiff competition from various platforms, including Twitch, the world’s leading live-streaming platform for gamers, with over 140 million active users as of 2021. Other platforms, such as Facebook Gaming, recently added features to attract more viewers to their ecosystem. For instance, they developed a “follow” system that enables Facebook users to easily watch tournaments and gameplays of their friends directly in their feeds. Other platforms, such as Discord and Stream TV, are also developing new ways for the gaming community to connect. In this competitive landscape, it’s essential to understand what sets Loco apart from the rest.
Who is on the team?
Previously, Loco’s co-founders Ashwin Suresh and Anirudh Pandita collaborated to create Pocket Aces. The company, based in Mumbai, produces content for online audiences, including web series, short films, and digital shows.
Pocket Aces operates several brands, including FilterCopy, Dice Media, and Gobble, each with a different focus and target audience. FilterCopy produces relatable and humorous videos and articles, Dice Media focuses on long-form storytelling through web series, and Gobble creates food and lifestyle content.
The company has gained a large following on social media platforms and has been recognized for its innovative content and digital marketing strategies.
In addition to creating content, Pocket Aces also works with brands to develop custom digital campaigns and branded content.
Given the success and renowned reputation of the team’s previous venture, Loco’s future looks bright!
Who are they backed by?
In March 2022, Loco raised an impressive $42 million in a Series A funding round, with investors including Hashed, Makers Fund, Catamaran Ventures, Krafton, Sequoia, Lumikai, Hiro Capital, and Korean Investment Partners. Prior to that, Loco had already raised $9 million in a seed funding round in June 2021. The company has also received investment from DSP, 3one4Capital, and Axilor. With this funding, Loco aims to continue expanding its user base and developing its platform, offering new opportunities for content creators and gamers alike. The success of Loco demonstrates the growing interest in online gaming and streaming in India, and highlights the importance of significant investment funding in the growth of digital entertainment platforms.
Why Loco is building a subnet
One way Loco stands out from its competitors is the company’s decision to build a subnet. The popular gaming application has indicated that building on a subnet allows them to customize the properties of its blockchain to fit its specific needs. One of these includes its goal to scale its user base to hundreds of millions of customers and keep network fees and transaction latency low.
Thanks to Avalanche’s recent Avalanche Warp Messaging (AWM) launch, Loco users could trade and interact with other decentralized applications (dApps) within the Avalanche ecosystem.
Another exciting aspect of the partnership between Loco and Avalanche will also see Loco receive support through the Multiverse incentive program, which will help launch its collectibles marketplaces.
Loco plans to personally run their validators, giving them even greater control over their infrastructure. Co-founders Anirudh Pandita and Ashwin Suresh explained that they are excited about the partnership and fully align with Avalanche’s vision of bringing the entertaining world of DeFi gaming to millions of users. They hope to provide their consumers with a reliable and secure platform to store, buy, and sell digital assets while enjoying a simple yet effective user experience.
As Loco forges into the gaming world, the company is confident its decision to build on a subnet will pay off in spades. Loco is poised to deepen fans’ connections with their favorite creators and make gaming an even more enjoyable experience by aligning with Avalanche’s vision of bringing fun games to the masses. Loco is set to revolutionize the gaming industry and beyond by investing in its blockchain infrastructure.
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