SNACKCLUB has completed a seed investment round, raising $9 million, according to the company’s official announcement. Animoca, Ascensive Assets, Formless Capital, Jump Crypto, Mechanism, OP Crypto, and Shima Capital were among the high-profile VC investors who contributed to the round.
The creation of the decentralised autonomous organisation (DAO), which is planned to enhance the ownership mechanism in decentralised games, will be fueled by new money. SNACKCLUB’s concentration on underdeveloped countries and their on-chain gaming communities fascinates Marc Weinstein, a partner at Mechanism, the round’s top investor.
Marc Weinstein detailed the following:
“SNACKCLUB, as a sibling company of LOUD, is beginning with immediate access to a passionate community eager to explore the future of gaming. We’re eager to support SNACKCLUB’s efforts to realise that vision by creating an ecosystem that supports ownership, justice, and openness, particularly in a location where even a small amount of money may go a long way. This is an exciting time in gaming, and we’re looking forward to defining its potential with our new partners.”
The new DAO aims to support, educate, and cultivate a community of active gamers from among LOUD’s 300-million-strong social media following.
In turn, community members will profitably, be newbie-friendly, and resource-efficiently participate in freshly released GameFi products. SNACKCLUB will rely on its presence in Latin America, one of the next-generation technological centres, in particular.
Read more: Bank of England asks for funding from commercial banks for crypto market scrutiny
