SNACKCLUB Raises $9 Million Seed Fund Led By Mechanism Capital

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 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.

About SNACKCLUB

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. 



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