SNACKCLUB, a sister organization of gaming platform LOUD, has raised $9 million in seed funding. It now plans to transition into a decentralized autonomous organization (DAO) dedicated to reinventing ownership in the game industry. The seed round was led by Mechanism Capital. Animoca, Ascensive Assets, Formless Capital, Jump Crypto, OP Crypto, ROK Capital, and Shima Capital were the other organizations that contributed. As a result of this achievement, SNACKCLUB will shortly transition to a community-based management structure.
Fans will be able to engage in the company’s decision-making process by casting their votes on critical issues. In addition, anyone over the age of 18 who has access to the internet is welcome to join. It is important to note that the vast majority of SNACKCLUB’s ownership and governance rights will be going to the community once the founders and investors have defined a strategic vision later this year. In the long run, players will have a greater say in strategic decisions, the ecosystem’s economy and gaming concepts to retain and which ones to drop.
LOUD’s gaming lifestyle brand will be visible in the organization’s content and media. Snack Club is focusing on bringing new games and currencies to the community, as well as new developers. With this platform, individuals in developing countries will be able to create a passive income through blockchain gaming.
SNACKCLUB will begin mining for high-liquidity assets once it offers these items and attracts a large, engaged audience. As of now, its primary goal is to use its team of 30 people to develop its governance structure, cement its investment strategy, and execute due diligence on the most promising investment opportunities.
SNACKCLUB is a Web3 company dedicated to helping gamers in developing nations get control of their games. It is the first gaming organization to surpass one billion views on YouTube. Also, it is a sister organization of LOUD, the fastest-growing esports organization in the world. Distributed across South and North America, it currently has a 30-person staff.