SNACKCLUB Raises $9 Million in Seed Funding to Support Gaming in Emerging Economies

Newly launched SNACKCLUB is going to change the game in digital token ownership with a focus on the play-to-earn, GameFi and Metaverse segments.

SNACKCLUB completes $9 million seed funding round, Animoca Brands is onboard

According to the official annoucnement shared by SNACKCLUB, its team has successfully completed a seed funding round.

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— SNACKCLUB (@SNACKCLUBgg) April 25, 2022

The net volume of funds raised surpassed $9 million. The round yielded contributions from high-profile VC investors including the likes of Animoca, Ascensive Assets, Formless Capital, Jump Crypto, Mechanism, OP Crypto and Shima Capital.

Fresh funds will fuel the creation of the decentralized autonomous organization (DAO) that is set to advance the mechanism of ownership in decentralized games.

Jean Ortega, co-founder of LOUD and managing partner of SNACKCLUB, is sure that his product will make the GameFi and play-to-earn segments more democratic and inclusive:

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.

Growing global gaming community-driven organization

Marc Weinstein, a partner at Mechanism, the round's leading investor, is fascinated by SNACKCLUB's focus on developing countries and their on-chain gaming communitites:

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. This is an exciting season for gaming, and we can't wait to define its potential alongside our new partners.

The new DAO is set to support, educate and build a community of active gamers from among the enthusiasts of LOUD's 300-million-strong audience on social media.

Community participants, in turn, will play in newly launched GameFi titles in a profitable, newbie-friendly and resource-efficient manner. In particular, SNACKCLUB is going to rely on its presence in Latin America, one of the next-gen technology hubs.