Blockchain to Make Streaming Cheaper in Latin America

By Chetna Phour

In a recent press release, DeStream the revolutionary financial platform and Axesos5 largest game publisher of Latin America announced their partnership. With collaboration both the companies are planning to bring a new cost-effective and decentralized financial ecosystem for streamers into the gaming industry using the emerging blockchain technology.

The new decentralized financial ecosystem will dramatically reduce the streaming fees. Axeso5 is one of the major game publishers in Latin America which have over 14 million active users. Axeso5 has developed its own in-game cryptocurrency, Axesocash. The corresponding payment system developed by Axeso integrated into the decentralized financial ecosystem of DeStream. Axeso’s cryptocurrency Axesocash is very popular in entire Latin America and can also be sold for cash in local currency. Both the companies are expecting that the collaborating will bring a skyrocketing growth of Axeso5 and DeStream platforms.

The solution offered by Axeso5 and DeStream will be marketed to over 14 million active users of Axeso5 platform. The solution will also be used in over 7,000 cybercafés across Argentina, Mexico, Columbia, and Brazil.

Latin America has a huge gaming industry. In 2017, the country accounts for 4.1% revenue of the global gaming industry which is worth around $4.4 billion. There is tremendous potential for the gaming industry in Latin America. The main goal behind the revolutionary financial ecosystem is to lower the streaming fees to 0.77%. Currently, streaming fees are very high in Latin America. Most of the payment systems impose streaming fees as high as 20% per transaction. The new platform is going to integrate popular streaming services such as YouTube, Afreeca. tv, Twitsk, and many others to create an effective environment for streaming activities. The ecosystem is also creating effective marketing tools based on data which is surely going to improve the effectiveness of marketing campaigns.

The founder and Chief Financial Officer (CFO) of DeStream, Tachat Lgityan said that

“I’m more than convinced that our partnership will be mutually beneficial and in the following years we’ll be able to integrate many technological solutions, unlocking the industry potential and improving the gaming sector in this region together.”

In the near future, Axeso5 will support DeStream to establish a new partnership in the country with different gaming companies. Axeso5 is currently working with over 30 top game streamers in the South American region; it opens the opportunities for Axeso to expand its product influence.