African blockchain gaming community, Metaverse Magna (MVM), has closed a $3.2 million token sale round to step up efforts to ensure equal opportunities for wealth creation across the world, thanks to the Game.
Metaverse Magna is a new product from Nestcoin launched in November 2021 with a mission to become Africa’s first and largest crypto-gaming DAO, empowering a new wave of players to play, earn and get rich.
Through the platform, players can compete and win in crypto, as well as create a network of like-minded individuals.
Incubated in partnership with Old Fashion Research (OFR), a multi-strategy blockchain investment firm, Metaverse Magna has raised its funding round from investors including Wemade, Tess Ventures, LD Capital, Taureon, Gumi Cryptos Capital, HashKey , AFF, Polygon Studios, Casper Johansen (Spartan) and IndiGG.
Shortly after its launch, Metaverse Magna offered in-game grants to over 1,000 gamers to play crypto games like Axie Infinity and Pegaxy. The startup has over 100,000 members across its products and community, with added earning opportunities for competitive and casual gamers, allowing them to win free Web2 games they already love.
The platform plans to launch a social gaming app called Hyper, which would make it easier to achieve its goal.
Yele Bademosi, CEO of Nestcoin, said: “Africa has the highest youth population in the world, yet more than 60% of young people on the continent are unemployed. The game offers a unique opportunity to help young Africans earn a living and lift themselves and their families out of poverty. MVM’s seed sale token provides opportunities for millions of players in these emerging markets. »
“Our goal is to build Africa’s largest gaming community while providing the tools across the ecosystem for players, investors, game developers and guild operators. We believe this investment is a huge step forward in creating value for all of our stakeholders and facilitating the expansion of MVM operations to provide opportunities for casual gamers through Hyper, our social gaming app. with an integrated virtual wallet.noted Yemi Johnson, Managing Director of MVM.
Xin, a partner at Old Fashion Research, also pointed out that: “The co-construction of MVM is a strategic step for Old Fashion Research’s Global South investment strategy. MVM provides a gateway to bring massive populations of young Africans into the ecosystem of Web 3 and neo-finance via gaming. We are happy to build with Nestcoin to formulate MVM initiatives from the ground up and will continue to support the future expansion of MVM in terms of developing global partnerships.
“Gaming guilds will be one of the main DAOs and will play a central role in gaming tokenomics. The partnership with MVM is an opportunity to expand the WEMIX ecosystem in Africa, the continent with a rapidly growing market and a young people,added Henry Chang, CEO of Wemade.