Metaverse Magna raises $3.2M at a $30M valuation to build Africa’s largest gaming DAO -

In February this year, Nestcoin, an emerging African market raised a pre-seed round to build, operate and invest in its Web3 applications. This also included some renowned names Breach Club and gaming guild Metaverse Magna (MVM). It’s been nine months since last December, the latter has completed a seed sale token round of 3.2 Million USD.

Metaverse Magna stepped in a partnership with a multi-strategy blockchain investment firm, Old Fashion Researcher (OFR). MVM also welcomed investors such as Gumi Cryptos Capital (gCC), Tess Ventures, Wemade, LD Capital, Polygon Studios, AFF, Casper Johansen, and IndiGG

Wemade, Japan-based blockchain-focused venture capital firm Gumi Cryptos Capital (gCC), HashKey, Tess Ventures, LD Capital, Taureon, AFF, Polygon Studios, Casper Johansen (Spartan) and IndiGG. The firm will also extend its arm to build “Africa largest gaming DAO and offer world-class opportunities to the gamers.

Metaverse Welcoming a Huge number of 200 Billion USD

According to the studies, the gaming industry entertains approximately 3 billions gamers spending over 200 Billion USD. These expenditures majorly include in-game purchases, NFT purchases, and gaming consoles and hardwares. Interestingly, emerging markets, including Africa, hold approximately 30% of this enormous count. Introducing metaverse to such markets will help Metaverse Magna to interact with gamers.

The gaming DAO works on publishing mobile based gamers in the front-end markets. Also, they create developer tools for gaming geeks who are into game development. This is to utilize emerging business models in Web3 gaming. It operates as an independent firm as part of the broader Nestcoin ecosystem.

Even if Africa exhibits a huge number of youth population, 60% of them are unemployed. Gaming industry is a pool of millions of opportunities. It can help youth to overcome poverty not just to themselves but their families as well.

The gaming industry has tremendous potential to enhance the world’s financial position. Especially, in the emerging geographies where people are facing poverty as a major issue.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing