Snackclub Raises $9M
SNACKCLUB will elevate our commitment to the community by investing in the technology, platform, and publishing partners that will realize the potential of blockchain gaming. We have a long way to go, but these investments will change the how and why behind a gamer’s decision to play.
SAO PAULO (PRWEB)
April 29, 2022
SNACKCLUB, a new sister company to LOUD, gaming’s fastest-growing international brand with 300M combined followers, and the first gaming organization to reach a billion views on YouTube (link), has secured $9M in seed funding to launch a decentralized autonomous organization (DAO) committed to reimagining ownership in gaming. Historically, gamers have had no possession over the currency, equipment, or assets their characters have procured through the hundreds, if not thousands, of hours invested in modern gaming titles. The proliferation of Web3, allows users to “mint” in-game items to an external blockchain wallet that immediately grants rare assets value and provides the liquidity necessary to unlock new, global economies. Reflecting on LOUD’s experience as Brazil’s largest esports and gaming-lifestyle group, blockchain gaming could be the future of work for young players in developing, low-earning countries.
“LOUD has always been a community-first organization,” said Jean Ortega, co-founder of LOUD and managing partner of SNACKCLUB. “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 a DAO, SNACKCLUB will soon operate under a community leadership structure that welcomes fans to equitably participate in the company’s operation by voting on major decisions. There is no fee to join and anyone over 18 years old with internet access is invited to participate. In fact, the majority of SNACKCLUB’s ownership and governance rights will be reserved for community onboarding after the company’s founders and investors have finalized a strategic vision later this year. Mechanism Capital led the $9M seed round with other participation from Animoca, Ascensive Assets, Formless Capital, Jump Crypto, OP Crypto, ROK Capital, and Shima Capital.
“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, the round’s leading investor. “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.”
SNACKCLUB will source, educate, and build its community of active gamers by mobilizing LOUD’s current, exhaustive, and combined audience of 300M+ fans across popular social media platforms. The organization will focus on content and media reflective of LOUD’s gaming lifestyle brand while introducing new games, currencies, and developers to the community. Over time, users will inform strategic decisions including what game concepts to lift, and the mechanics behind each game’s economy. Once those titles launch, SNACKCLUB will mobilize an engaged audience that populates the game and begins mining for high-liquidity assets. As that title’s popularity and awareness propagate throughout SNACKCLUB’s Latin American footprint, the value of those assets may fluctuate. For now, however, SNACKCLUB’s immediate focus is to nurture its already 30-person team, establish its governance, cement its investment thesis, and conduct due diligence on priority investment prospects.
For more information, please visit: http://www.SNACKCLUB.gg
About SNACKCLUB
As a sister organization to LOUD, the world’s fastest-growing esports organization with an audience of 300M, SNACKCLUB is a Web3 startup and investor hub that will help players in developing regions realize a new era of gaming ownership. By tapping the blockchain to “mint” unique in-game items into an individual user’s out-of-game digital wallet, players will “own” those assets and can experiment with selling, trading, or spectating across a title’s most desirable digital goods. In developing, low-skill regions like Latin America and Southeast Asia where even a little extra income could go a long way, dedicated gamers can make a real impact on their livelihoods and community when playing to earn. The org will soon evolve into a decentralized autonomous organization (DAO) where members will guide the key decisions that bring blockchain experiences to market. Such community-first leadership will offer the voice, transparency, and equity that traditional gaming severely lacks. SNACKCLUB hosts a 30-person distributed team across South and North America and is currently focused on finalizing its governance, building its community, and accelerating investments in primary-product targets. For more information, please visit: http://www.SNACKCLUB.gg
Share article on social media or email: