Blockchain gaming platform Metaverse Magna (MVM) has secured USD 3.2 million in a seed sale token deal to boost its attempts to create Africa’s biggest gaming DAO and give players access to top-tier possibilities. Metaverse Magna, the second project that Nestcoin has made public, was hatched in collaboration with Old Fashion Research, a multi-strategy blockchain investment firm.
Metaverse Magna, a gaming guild first introduced in December 2021, is growing its gaming community. With this concept, Metaverse Magna provides over 1,000 gamers with play-to-earn scholarships to play cryptocurrency games like Axie Infinity and Pegaxy. Over 100,000 people have joined the venture, using its community and products since it launched.
A survey by the gaming analytics company Newzoo claims that the number of gamers in sub-Saharan Africa rose from 77 million in 2015 to 186 million in 2021. According to the survey, 95% of sales are for mobile phones, which reflects the continent’s enhanced internet availability and reasonably priced smartphones.
Yele Bademosi, the CEO and co-founder of Nestcoin, claimed:
that the possibility for Metaverse Magna stemmed from the continent’s large gaming population and the lack of any platforms that worked at the nexus of cryptocurrencies and gaming.
Bademosi continued by saying that his main motivation has been to see digital assets used more frequently in everyday life and as a tool for transforming the economy. Bademosi, a founding partner of Microtraction, has invested in several African Web 3 businesses, including Buycoins, Yellow Card, and Bitsika. Before creating Bundle, a social payment platform for fiat and cryptocurrency, he assisted Binance’s expansion into Africa.
Wemade, Tess Ventures, LD Capital, Taureon, Gumi Cryptos Capital, HashKey, AFF, Polygon Studios, Casper Johansen (Spartan), and IndiGG participated in the round. According to Bademosi, it was essential to approach this varied collection of investors to realize MVM’s mission.
The CEO of South Korean video game developer Wemade, Henry Chang, stated:
“Our partnership with MVM is an opportunity to expand the ecosystem of WEMIX in Africa, a continent with a rapidly growing market and a young population. Gaming guilds will be one of the mainstream DAOs and play a pivotal role in game tokenomics.”
People can effectively be introduced to digital assets, cryptocurrency wallets, and financial benefits through gaming. In 2021, the global mobile gaming market generated USD 93 billion in sales, outpacing other digital industries, including streaming of music and movies. Metaverse Magna enables both competitive and casual players to profit from the prospects in this expanding business while providing cryptocurrency access.
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