Africa’s crypto-gaming community, Metaverse Magna (MVM) has secured $3.2 million in a seed sale token round. The fund was raised from investors such as Wemade, Tess Ventures, LD Capital, Taureon, Gumi Cryptos Capital, HashKey, AFF, Polygon Studios, Casper Johansen (Spartan), and IndiGG.
The platform will deploy the proceeds from the fund round to drive its mission of ensuring that gaming affords people around the world equal opportunity to build wealth.
Launched in 2021 by Nestcoin, Metaverse Magna aims to become Africa’s first and largest crypto-gaming DAO empowering a new wave of gamers to play, earn and grow wealth.
The platform enables gamers to compete and earn in crypto while they build a network of people of the same interests.
The startup currently has over 100,000 members cut across its products and community with opportunities for earning added for competitive and casual gamers, allowing them to earn from free-to-play web2 games they already love.
MVM is also looking to launch a social gaming app called Hyper which would help it achieve its goal.
Yele Bademosi, CEO of Nestcoin, said: “Africa has the highest youth population globally, but over 60% of the continent’s youth are unemployed. Gaming presents a unique opportunity to help young Africans earn and lift themselves and their families out of poverty. MVM’s seed sale token ensures opportunities for millions of gamers in these emerging markets.”
Yemi Johnson, MVM’s General Manager said, “Our goal is to build Africa’s largest gaming community while providing the tools across the ecosystem for gamers, investors, game developers, and guild operators. We believe this investment is a huge leap in creating value for all our stakeholders and facilitating the expansion of MVM’s operations to provide opportunities for casual gamers through Hyper, our social gaming app with an embedded virtual wallet.”
Henry Chang, CEO of Wemade said, “Gaming guilds will be one of the mainstream DAOs and play a pivotal role in game tokenomics. Partnership with MVM is an opportunity to expand the ecosystem of WEMIX in Africa, the continent with a rapidly growing market and a young population.”
