SNACKCLUB, an innovative sister corporation to LOUD, gaming’s rapidly-growing global brand with 300 million consolidated followers and the maiden gaming institution to attain a million YouTube views, has raised $9 million in seed financing to unveil a decentralized autonomous organization (DAO) dedicated to rethinking gaming control.
Web3 enables games to play-to-earn
Generally, gamers have had no control over the cash, equipment, or properties their players have amassed during numerous hours spent playing current video games. Web3’s widespread adoption lets people “mint” in-game objects to an outside blockchain wallet, instantly granting uncommon assets value and providing the liquidity required to launch a new world economy.
LOUD co-founder and SNACKCLUB managing partner Jean Ortega said:
LOUD has always been a community-first organization. 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.
SNACKCLUB to be governed through community leadership
As a DAO, SNACKCLUB would soon be governed by a community command structure that would allow fans to engage fairly in the company’s operations by participating in essential choices. There isn’t any cost for joining, and everyone over 18 who has internet access is welcome to take part. In addition, most of SNACKCLUB’s governance rights and ownership will be preserved for community onboarding following the completion of a strategic vision later in the year.
Ascensive Assets, Animoca, Formless Capital, Mechanism, Jump Crypto, Shima Capital, and OP Crypto are among the investors that took part in the $9 million seed round. The financing round’s top investor and Mechanism partner Marc Weinstein said:
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. 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.
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