Galaxy Digital Leads Funding of Azure's Blockchain Gaming Rewards Platform, Smart Challenge

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.

EOSIO Protocol

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.

Scarcity Engine

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.

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Osahon Okodugha
Osahon Okodugha
Osahon Okodugha is a blockchain and financial writer based in Lagos, he is also a published writer with years of experience. He has degrees from the University of Ghana, Legon, and the University of Lagos.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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