One fund of crypto bank Galaxy Digital was the frontrunner in a $1.8 million seed funding run for Azure’s blockchain-powered gaming platform.
According to a recent VentureBeat report, the crypto investment bank is looking to bankroll Azure’s game rewards platform Smart Challenge. Galaxy Digital is allegedly coursing its investment via its Galaxy EOS VC Fund, an organization that invests in products developed on EOSIO.
Azure’s Smart Challenge
Azure’s Smart Challenge gaming rewards platform lets users make and join in challenges held on the EOSIO blockchain code. By utilizing blockchain technology, the designed challenges are reported to be certifiably fair as all the rules of the challenges and how they’re implemented can be seen by all participants.
Users who join the challenges can earn “AZA credits” that can be used to purchase in-game advantages, like virtual currency or items. In one of the purported challenges, users can participate in streaming questions that reference the activities in esports streams. Participants who answer correctly are rewarded with credits.
The Smart Challenge platform was initially launched in 2018 and was developed to boost player engagement in select esports and games through playing and watching.
Beta Testing in Ubisoft’s
Azure’s gaming platform is said to have been undergoing beta testing in Ubisoft’s Entrepreneurs a Lab, a unit of Ubisoft that works as an incubator for startups in the entertainment and gaming niche. The unit’s research reportedly revealed that spectator streams using Smart Challenge did better than conventional streams with regards to gameplay numbers and boosting viewership.
Azure follows in the footsteps of Lucid Sight’s success. The game developer successfully raised $6 million last April for “Scarcity Engine,” its blockchain-powered game engine.