The platform, Loco Legends, will partner with 50 of India’s most popular e-sports teams and allow fans to buy and trade in virtual collectibles, not unlike how sports fans buy merchandise and collectibles for their favourite sports teams in the real world.
The first asset on Loco Legends will be NFT e-sports cards.
This combines NFTs and free-to-play e-sports fantasy gaming.
Users can purchase NFT trading cards, allowing them to trade in these and participate in free-to-play fantasy pools.
“As a fan, you’ll get to own virtual merchandise or NFTs and the person can be a part of a game which utilises these NFTs,” said Loco co-founder Anirudh Pandita.
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The platform is currently in beta mode and is expected to launch next month.
The company has put in place partnerships with popular e-sports teams like 8bit, s0ul, Godlike, Revenant, Blind, and XO which are dominant in popular games like BGMI, FreeFire Max and Valorant.
With 52 million users, Loco has a ready base of gaming enthusiasts and data from the tournaments it hosts.
“We are passionate about the potential of web3 to
creators and create new fan experiences in the gaming community. Gamers are the earliest adopters of new technology, and our community has shown a strong acceptance for these initiatives,” said co-founder Ashwin Suresh.
Initially, the top 1,000 people to register on the waitlist will get access to free NFTs worth about Rs 500 each. The NFTs can be purchased using normal currency, making it accessible to a wider set of people.
