On the 5th of June, Galaxy Digital, a merchant Bank dedicated to cryptocurrency and blockchain technology investments, led a $1.8 million seed funding round for VentureBeat, a blockchain-based gaming rewards platform by Azure.
Azure's gaming rewards platform, Smart Challenge, enables users to create and compete in challenges via the EOSIO protocol. With the use of blockchain technology, the challenges are seen as somewhat fair, being that all parties can see the entire challenge rules and exactly how they are implemented.
This investment by Galaxy Digital was reportedly done through its Galaxy EOS VC Fund, which is dedicated to the funding of products developed on the EOSIO protocol.
AZA Credits Earnings
‘AZA credits' are awarded to challenges, which can then be used to purchase in-game benefits like currency or other virtual items. An example of such challenges is streaming questions, which ask participants questions which regards to activities in esports streams, and users that answer questions correctly are awarded AZA credits.
The Smart Challenge platform was launched in 2018 and was built so as to enable an increased user engagement on their esports or games either as a player or speculator.
Tests On Ubisoft
Pilot tests are reportedly being carried out by the Azure platform in the Entrepreneurs Lab of Ubisoft, a sector of Ubisoft which acts as an incubator of technology startups within the entertainment and gaming industry.
These tests reportedly showed that spectator streams on the Smart Challenge surpassed conventional streams with regards to views and gameplay count.
In April 2019, game developer firm, Lucid Sight raised a total of $6 million for its “Scarcity Engine”, a blockchain-based game engine.
This game engine was designed to support Lucid Sight's blockchain-based games on conventional platforms, which includes mobile devices, PCs and gaming consoles.
The Scarcity Engine is set to be launched sometime this year and it's blockchain-based games Crypto Space Commander and Major League Baseball will be available on it.