Zilliqa announces investment in online academy

We have been seeing a lot of traction for the blockchain industry in the last couple of years or so, as this technology gains recognition due to the increasing popularity of cryptocurrencies. As more people have tried to understand how cryptocurrencies work, they have been introduced to blockchain and its importance to the functioning of cryptocurrencies. However, it is also important to note that while blockchain networks are crucial for cryptocurrencies to work, that is not their only application. Blockchain is being investigated as a potential solution for problems in various sectors, from the likes of healthcare and data storage to analytics, software development and even gaming and sports. The various benefits that blockchain networks bring can be of use to a wide variety of sectors, and so it is not surprising that we are seeing a lot of investment take place in this and related sectors.

One such deal has seen Zilliqa, the high-security blockchain platform, invest in XCADEMY, which is the world’s first online and YouTube-based academy. This partnership will allow these two startups to come together and create an influencer economy based on blockchain, and thereby allow content creators to be able to monetise their content in a better and more efficient manner. The use of tokens will also make it easier for those influencers to be able to incentivise user engagement as well.

This is just one example of how blockchain networks can help improve efficiency in various different sectors and markets. Another example can be seen in the online gambling space, where there are now various gambling sites which run on blockchain networks. This makes their games faster and more reliable, while transactions are quicker as well. At the same time, we are also seeing these sites begin to offer users the option to place bets using cryptocurrency. This has proven to be very attractive, with an LTC casino of this sort potentially seeing its user base increase many times over. Thus, the benefits that crypto and blockchain bring can be used to scale different sectors and bring more user engagement, which is exactly what this partnership between Zilliqa and XCADEMY aims to do as well.

XCADEMY will use Zilliqa’s smart contracts to create a token economy, allowing influencers to be able to launch their own native tokens on the Zilliqa blockchain. Thus, influencers will be directly able to reward fans and viewers seamlessly and directly on YouTube as well as during specific events. This space is believed to be worth $15 billion by some estimates, and so it represents a very lucrative opportunity for companies to try and tap into. XCADEMY is already a well-known brand in the influencer world, as it helps entrepreneurs and upcoming influencers to improve their content and their marketing strategies through e-learning opportunities as well as mentorship programs with established influencers. XCADEMY therefore has a ready pool of users available for this platform, and thus this deal is expected to bring many new users onto Zilliqa’s blockchain to create and share their own tokens.

Since inception in 2018, Zilliqa has looked to invest in and increase the growth and potential of the blockchain industry, with investments in several promising ventures, including the likes of Switcheo, Xanpool and Unstoppable Domains, among others. It focuses on secure tokenisation, decentralized finance and asset securitisation, all of which will help XCADEMY’s influencer base to set up their own tokens, and therefore be able to reward their loyal customers with incentives and exclusive content through the use of those tokens. Such collaborations are expected to become more widespread as time passes, with more and more digital entrepreneurs trying to use the benefits of crypto and blockchain to their advantage.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes