SnackClub, a subsidiary of Brazil-based fast-growing international esports brand Loud, has secured $9 million in a funding round.
The companies participating in the round include Ascensive Assets, Animoca Brands, Formless Capital, Mechanism, Jump Crypto, ROK Capital, OP Crypto, and Shima Capital.
SnackClub said it would use the investment to promote blockchain gaming in developing countries.
“Loud has always been a community-first organization,” said Jean Ortega, managing partner of SnackClub and cofounder of Loud. “SnackClub will elevate that commitment by investing in the technology, platform, and publishing partners that will bring the potential of blockchain gaming to our community. We have a long way to go, but these investments will change the how and why behind a gamer’s decision to play.”
“As Loud’s sister company, SnackClub is launching with access to an immediate and passionate community who are anxious to explore the future of gaming,” said Marc Weinstein, a partner at Mechanism, one of the main investors in the company. “We’re thrilled to support SnackClub’s efforts to realize that future by providing an ecosystem that promotes ownership, fairness, and transparency, especially for a region where even a little income could go a long way. This is an exciting season for gaming, and we can’t wait to define its potential alongside our new partners.”
Loud has amassed more than 300 million followers and a billion views on YouTube. Meanwhile, SnackClub is creating a decentralized autonomous organization (DAO) to change how people own games. It also plans to use non-fungible tokens (NFTs) on the blockchain to verify unique digital assets.
According to SnackClub, reflecting on Loud’s experience as the biggest esports and gaming-lifestyle organization in Brazil, blockchain gaming may be the future of employment for young players in low-income nations.
In addition, SnackClub will leverage Loud’s audience of 300 million fans across popular social media platforms to recruit, educate, and grow its community of active gamers. Furthermore, the company will produce content and media as well as introduce fresh games, currencies, and developers to the community.
Recently, Animoca Brands, one of the leading investors in the round, said it invested in the nature-driven gaming company Untamed Planet.
Animoca said it, alongside its sister company, nWay, will help Untamed Planet develop and publish its first game Untamed Metaverse.
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