SNACKCLUB Raises $9M to Boost Blockchain Gaming in Developing Countries

SNACKCLUB, a Web3 startup and the sister company of Brazilian gaming giant LOUD, has raised $9 million in a seed funding round, according to an announcement Tuesday, April 26.

Venture firm and gaming publisher Animoca Brands, along with Ascensive Assets, Jump Crypto, Formless Capital, Mechanism and OP Crypto, have contributed to the round, among other investors, SNACKCLUB said in its press release.

Building a DAO for gamers

According to the company, the funds will go to a Decentralized Autonomous Organization (DAO) whose primary goal is to redefine ownership within the gaming ecosystem.

The gaming provider seeks to help gamers reap more from the massive investments they put into games, particularly in terms of owning and controlling a game's currency, gear, or assets associated with their character .

Building on LOUD's experience, SNACKCLUB aims to make gaming a profitable venture for players, especially when it comes to motivating them to invest time in such activities.

“ SNACKCLUB will amplify this commitment by investing in technology, platform and publishing partners that will bring the potential of blockchain gaming to our community. We still have a long way to go, but these investments will change the how and why of a player's decision to play, ” said Jean Ortega, co-founder of LOUD. Ortega is also a managing partner of SNACKCLUB.

LOUD reportedly has a total global follower base of 300 million, a community that SNACKCLUB hopes to leverage when it launches.

However, the platform is focused on nurturing its team of 30 people. Other immediate plans include establishing its governance and conducting due diligence on which investment prospects to prioritize.

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