Loco launches India’s first NFT platform for esports

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Responding to a global trend, Loco has launched Locomotive Legends, which is touted as India’s first non-fungible esports token platform.

Loco said he is committed to democratizing gaming entertainment in the country, and said his platform will allow users to own and trade collectibles for esports, helping them increase their fandom and experience the thrill of being in the world. shoes from esports scouts.

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Legends will pave the way for decentralization for game makers, with Loco committed to supporting the game-fi ecosystem in the country, Loco said. NFTs use blockchain to authenticate unique digital assets, and companies around the world use them to build communities and monetize esports teams and their fans.

Loco, with 52 million users, brings with it the largest and most engaged community of gamers in each of these categories. The company has raised more than $51 million to date.

Loco Legends launches with exclusive partnerships with India’s hottest esports teams
including 8bit, s0ul, Godlike, Revenant, Blind and XO among others. These top Indian esports teams dominate the category in popular games like BGMI, FreeFire Max and Valorant, offering fans the most credible NFT experience, Loco said.

Loco NFT esports cards

Loco Legends is bringing NFTs to Indian esports.

Loco has also built its own data system that powers Legends. This system uses data generated from the large number of tournaments supported by Loco, the largest funder of esports tournaments in the country.

Loco also said it has exclusive partnerships with leading esports tournament organizers, including Villager esports and Upthrust esports, to ensure its data platform also has the best-in-class data pipeline.

The first addition to Loco Legends is the NFT esports cards. This offer combines NFTs and fantastic free esports games. Users can purchase NFT trading cards, which allows them to buy and sell cards with each other and also participate in free fantasy pools. By collecting, owning and trading these limited edition digital collectibles, Loco designs a unique fan experience, where users can really connect with their heroes, connect with the real world and enhance their viewing experience.

NFTs are limited in number and unique to each owner. Loco is the first to build such a large-scale consumer platform in India, which includes NFTs and Web3.

locomotive Anirudh Pandita 1
Anirudh Pandita is a co-founder of Loco.

Founders Anirudh Pandita and Ashwin Suresh said in a statement: “We are passionate about the potential
from Web3 to empower creators to create new experiences for fans in the gaming community. Players are early adopters of new technologies and our community has shown strong adoption of these initiatives. We are excited to provide users with an easy-to-use experience so that they can take advantage of the power of Web3 without having to deal with the complexities that other products often face. We’re also excited about the partners we bring with us and the experiences these partnerships will help us deliver to users. Our team believes this is a unique opportunity to unlock a new paradigm in gaming and this product is the first step in our roadmap.

The platform is currently in beta and will be released to the public in July 2022. As part of this launch, the
The top 1,000 users who register themselves on the platform will get access to free NFTs worth
around ₹500, or $6.39 each.

Loco’s popular game categories include BGMI, Call of Duty Mobile, Valorant, GTA 5 and more. Partnering with giants such as Krafton, Activision, Ubisoft, Riot Games, Red Bull and NBA 2K League and Logitech – G, the platform brings entertainment experiences to the Indian gaming audience. Loco is currently available on Android, iOS and the web. The company has 85 employees.

I asked via email how receptive the local Indian market is to NFTs as we have seen resistance to NFTs from hardcore gamers in the West.

“The resistance of some gamers to NFT-based games stems from the fact that these games are not fun to play and therefore playing to win can often be a chore,” the founders replied. “We believe that this criticism, which is justified in some cases, will be addressed by several games in the coming years.”

Ashwin Suresh 2 locomotive
Ashwin Suresh is a co-founder of Loco.

They added: “In our case, that’s not a problem because what we’re releasing are digital collectibles for esports teams and players. These collectibles can then be used in fantasy pools and other game formats that we’re working on. These collectibles and the games in which they are used add a layer of fan engagement that the esports industry is currently missing.This layer improves the viewing experience and brings users closer to the streamers they love and support.The Legends platform allows fans to create collectibles for owning and trading esports, allowing them to boost their fandom and experience the thrill of stepping into the shoes of esports scouts.

They said the Indian local market is eagerly looking for NFTs. In a recent survey by the platform, 60% of Web3 users knew and showed a strong willingness to buy NFTs to support their favorite streamers and esports teams, they said.

When it comes to technology, the company plans to make it easy for Indian users to buy NFTs and integrate them into the esports metaverse with minimal friction.

The founders said: “Legends Web3 app uses Polygon, while the rest of the infrastructure is built by the Loco team. We are releasing our web product first, followed by Android and iOS apps. The first addition to Loco Legends are the NFT esports cards.This offer combines NFTs and fantastic free esports games.Users can buy NFT trading cards so they can buy and sell cards with each other
others and also participate in free fantasy pools. By collecting, owning and trading these limited edition digital collectibles, Loco designs a unique fan experience, where users can really connect with their heroes, connect with the real world and enhance their viewing experience.

I also asked them about the company’s inspiration.

“Our mission as a company is to democratize Indian gaming. This central idea continuously inspires us to create new products, features and experiences,” said the founders. “We believe that gambling offers a new level playing field in India. In video games, where you come from is not a limitation. How you look is not important. Your gender or religion doesn’t matter. Your skills, your hard work, your grind – they matter. We
want to ensure that a young person in a small village can entertain, or be entertained, the world with minimal resources, using only their phone.

The addition: “We are the platform where gamers can go from novices to become superstars of the game. We are the campfire for streamers – from beginners to the best, they are all here on Loco. We are the platform that brings the experiences of fans accelerates – fans no longer need to be another user in the crowd. We create tools and experiences that allow users to interact with streamers in ways that were not possible before. We are the water cooler for virtual playgrounds – where fans come together, exchange stories, analyse, criticize and support their favorite creators.

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