Azarus, a blockchain-based sport developer has raised $1.8 million seed funding. The funding came from different crypto VC funds comprising of Galaxy Digital through its Galaxy EOS VC Fund, Kleiner Perkins as well as SVK Crypto.
The platform is christened ‘Smart Challenge’ will allow gamers to compete for digital assets in both casual and competitive gaming challenges. The platform will be developed on EOSIO blockchain protocol. By utilizing the blockchain technology, the challenges are said to be verifiably fair, as players can have a view of the challenge rules and how they are enacted.
Galaxy Digital invested in this project via its Galaxy EOS VC Fund. This fund is an investment firm that finances projects developed on EOSIO. Other leading investors in the Smart Challenge funding round include Kleiner Perkins and SVK Crypto.
Enhancing The Gaming Experience
Smart Challenge participants can take part in the challenges to earn AZA credits, which they can redeem to buy in-game benefits. These range from virtual items to currencies. An example of a challenge that users can participate in is streaming questions. The questions are either predictive or historical. Individuals that get the correct answers get rewards in AZA credits.
“Azarus’ implementation of blockchain tech and the EOSIO protocol is precisely what we look to invest in from the Galaxy EOS VC Fund: a scalable and consumer-friendly gaming platform that demonstrates the promise of blockchain technology.” explained Sam Englebardt, the co-founder of Galaxy Digital and the firm’s co-head of principal Investments.
Englebardt exuded confidence that the project will be an industry hit saying that Galaxy Digital has lots of trust in the developing team’s vision and ability to execute the project.
Englebardt’s sentiments were echoed by Hugh Cochrane, the co-founder of SVK Crypto who said:
“Gaming is one of the verticals that we have identified as proof points for the efficacy of blockchain technology. As one of our initial investments, we were drawn to Azarus’ platform approach and the potential for Azarus to leverage blockchain to disrupt the entire gaming ecosystem.”
Enhancing Game Engagement
Smart Challenge was first launched last year and is designed to enhance the participant’s engagement with their preferred games or esports either by playing or spectating.
The end of the funding round comes days after various tests in Ubisoft’s entrepreneur labs. As part of the lab tests, Azarus collaborated with Ubisoft’s development team to come up with inaugural esports game dubbed “Tom Clancy’s Rainbow Six: Siege”, reports Cointelegraph.
The pilot revealed that in restricted rounds with chosen developers, Azarus-enabled streams had enhanced viewership and engagement from players. In addition, there was an increase in the gameplay rate.
Azarus is not the only startup incorporating blockchain in gaming. According to a report, game developer Lucid Sight recently managed to raise $6 million for its blockchain-based game engine known as “Scarcity Engine”. The engine is designed to feature popular games like Major League Baseball and Crypto Space Commander.
- Source: First Appeared Here
- Published Time: 2019-06-07 03:16:04
The views and opinions expressed in the article Azarus Blockchain Game Developer Secures Nearly $2 Million in Funding to Build EOS Features do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research.
⚡️ Explore Our Cheap Efficient Cryptocurrency Advertising Services
We offer a variety of cryptocurrency advertising options including: Facebook posts, Twitter Tweets, Pinterest Pins, Web Banners, STO listings, Exchanges, Casino Banners, ICO listings, Article Links and Conference Landing Page Links!
Aren’t You Curious How’s Your Favorite Cryptocurrency Performing Today September 18, 2020?
Check out our price index page! Pick your favorite cryptocurrency to see its data; crypto prices, crypto market capitalization, trading pairs, buy or sell, analytics, charts, FIAT calculator, social media links, latest tweets and much more!