Azarus Raises Funds for Competitive Gaming Platform Enhancements
Blockchain technology is a common news topic these days. Stories are directly related to the crypto industry or for process improvements in other business sectors. However, it would be safe to venture that only a handful of the general population really understands what blockchain is.
Everyone Doesn’t Understand What Blockchain Is?
An easy concept to grasp is that Bitcoin, including blockchain, is a new approach to solving old problems. It could be thought of as a better way to do things in an ever-changing world. One company turning to blockchain for process improvement is Azarus as noted in a recent post by Dean Takahashi for Venturebeat.com.
This groundbreaking new game challenge network has raised $1.8 million for this blockchain initiative. The goal is to build out its blockchain-based “Smart Challenge” gaming platform. Ultimately, this gives gamers the ability to compete for digital assets through casual play and competitive challenges. The money raised came from Galaxy Digital, Kleiner Perkins and SVK Crypto as the three biggest investors. Other related companies are also on the list.
How Is Azarus Raising Funds for Competitive Gaming Platform Enhancements?
The original gaming platform was launched late last year. The “Smart Challenge” platform is designed to motivate play with the use of in-game applications as part of programming interface data (API). Information is also pulled from Twitch extensions as a means to measure performance playing online games. Rewards are paid out to winning players as well as their fans.
Bing Gordon is a partner at Kleiner Perkins and a big part of the fund raising effort. GameBeat recently interviewed him in reference to this new initiative. One of the biggest goals is increased retention and player engagement. Both are critical in the ongoing success of online games. The Azarus challenge and reward platform works to increase a player’s stake in the game itself.
Through the “Smart Challenge” platform, players can create their own rules and challenges. Moreover, this takes place on the EOSIO blockchain to create transparency while ensuring fairness. Blockchain in this explanation.
“A transparent and secure decentralized ledger that powers innovations such as cryptocurrency or supply chain security.”
Gordan’s comments on this new direction were quoted as follows: “I like blockchain and competition, and I like the brand approach as well. I knew (Azarus cofounder) Erik Whiteford when he was at EA Sports and Madden. He hosted the Madden tournament at the Super Bowl for multiple years. I trust his nose for bringing competition to gamers. He has been doing high-level head-to-head esports since the 1990s.”
Both players and viewers can earn AZA credits. There are company enabled amateur and professional e-sports betting streams. The credits are tied to answering historical or predictive questions based on these broadcasts. AZA credits hold value in the Azarus Marketplace. They can be redeemed for rare in-game items, in-game currencies. and digital assets.
Indeed, Sam Englebardt is the co-founder of Galaxy Digital. Acting as the co-head of principal investments, he released the following statement,“We have tremendous confidence in the team’s vision and ability to execute” in terms of the anticipated return on that sizable investment.
• Source: Azarus raises $1.8 million for blockchain-based competitive gaming challenge platform From Venturebeat.com On June 5, 2019.
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