Nigerian Gaming DAO, Metaverse Magna Completes $3.2M in a Funding Round
With a $30 million fully diluted valuation, the gaming DAO Metaverse Magna (MVM) from Nigeria raised $3.2 million in a seed sale token offering.
MVM produces developer tools for Web3 gaming and distributes mobile games in developing African markets.
The investors included Wemade, a South Korean video game producer, HashKey, Tess Ventures, LD Capital, Taureon, AFF, Polygon Studios, Casper Johansen (Spartan), and IndiGG. Gumi Cryptos Capital (gCC), a Japanese venture capital firm with a blockchain-focused investing strategy, was also involved.
the match In front-end markets, DAO publishes games for mobile devices. They also create developer tools for video game nerds who are game creators. This is done in order to benefit from new business models for Web3 gaming. Within the Nestcoin ecosystem, it operates independently.
Yele Bademosi, CEO of Nestcoin, adds context to the importance of MVM’s work in the region by stating that “Africa has the world’s largest youth population, but over 60% of the continent’s youth are unemployed. Young Africans who play video games have a unique opportunity to make money and lift their families out of poverty. Millions of gamers in these emerging markets will have opportunities thanks to MVM’s seed sale token.
MVM plans to launch Hyper, a social gaming platform, as well as ten hypercasual Web 2.0 games in the near future, including Candy Blast, Wordler, Kong Clumb, and Electron Dash.
