SNACKCLUB Secures $9M Seed Funding To Launch Gaming DAO

  • April 28, 2022
  • 66 Views

SNACKCLUB, an innovative LOUD-affiliated startup, has recently raised its seed funding at a valuation of $9 million from prominent investors including Animoca, Ascensive Assets, Formless Capital, Jump Crypto, Mechanism, OP Crypto, and Shima Capital.

The company aims to leverage the capital to launch a decentralized autonomous organization (DAO) dedicated to tap into blockchain innovation and help reimagine ownership in gaming.

SNACKCLUB is Funded and Growing

Blockchain integration plays an important part in accelerating the development of new gaming models such as Play-to-Earn, other crypto-based models or the latest Move-to-Earn.

The concept of ownership becomes more evident. Despite this, research on in-game currency, equipment, or virtual assets has not delivered a coherent notion because ownership in gaming is still in its infancy.

The goal of SNACKCLUB is to eliminate limits and leverage different revenue sources in order to introduce actual asset ownership to gaming and provide support to participants (gamers) in developing and underdeveloped countries.

Jean Ortega, co-founder of LOUD and Managing Partner of SNACKCLUB, stated:

“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.”

Open to All

The SNACKCLUB DAO system will be open-source.

Once the company’s founders and investors have settled on a strategy development and DAO is implemented, it becomes totally automated, community-driven, and all decisions are decided by consensus.

Members have the right to vote on key decisions or suggestions that benefit the ecosystem’s future. SNACK CLUB DAO is free to all participants over the age of 18.

Marc Weinstein, Head of Platform at Mechanism Capital, the round’s lead investor, emphasized his delight of becoming a part of a transformed gaming ecosystem:

“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.” He added, “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.”

Ready to Make Blockchain Gaming Better

With the acquisition of the funds, SNACKCLUB intends to provide gamers with all of the resources and capabilities they need, while also establishing a hybrid and cross-border community of active gamers.

The project benefits from LOUD’s combined 300 million followers across key social media platforms. The development of content will take priority, and media conceptual models will represent LOUD’s gaming lifestyle.

Furthermore, the group will promote the community to new games, currencies, and creators.

The team’s long-term goal is to mobilize an active community that populates the game and begins mining for high-liquidity assets.

However, for the time being, SNACKCLUB’s primary focus is on growing its current 30-person team, establishing governance, solidifying its investing strategy, and conducting due diligence on key investment opportunities.

Gaming DAOs are becoming increasingly popular due to their positive impact on gaming communities, enabling players and developers, as well as other participants, to collaborate on a fair basis.

Blockchain technology enables enterprises to foster peer-to-peer communication among members without relying on a centralized infrastructure.

Everyone is on an equal standing. DAO enables everyone to participate internationally, regardless of location, race, social status, or other factors, and provides equal access to organizational resources and voting processes.

The post SNACKCLUB Secures $9M Seed Funding To Launch Gaming DAO appeared first on Blockonomi.

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