SnackClub raises $9M for blockchain gaming in developing countries
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Brazil’s SnackClub has raised $9 million to help blockchain games thrive in developing countries.
A sister company to international esports brand Loud, São Paulo, Brazil-based SnackClub will invite its community to vote for and benefit from investments in blockchain platforms, game developers, and community building efforts.
Loud has more than 300 million followers and it has reached a billion views on YouTube. SnackClub is launching a decentralized autonomous organization (DAO) committed to reimagining ownership in gaming. It uses non-fungible tokens (NFTs) on the blockchain to authenticate unique digital items.
Historically, gamers have had no possession over the currency, equipment, or assets their characters have procured through the hundreds, if not thousands, of hours invested in modern gaming titles.
The proliferation of web 3, allows users to “mint” in-game items to an external blockchain wallet that immediately grants rare assets value and provides the liquidity necessary to unlock new, global economies, the company said.
Reflecting on Loud’s experience as Brazil’s largest esports and gaming-lifestyle group, blockchain gaming could be the future of work for young players in developing, low-earning countries, SnackClub said.
“Loud has always been a community-first organization,” said Jean Ortega, managing partner of SnackClub and cofounder of Loud, in a statement. “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
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