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Metaverse News Europe


Sport Metaverse firm LootMogul lands $200 Million funding

9/18/2022

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  • The sport metaverse company LootMogule has secured $200 million funding from Gem Global Yield.
  • GGY will provide LootMogul with a subscription facility of up to $200 million for 36 months.
  • LootMogul controls the timing and the maximum size of such drawdowns but has no minimum drawdown obligation.
Gem Global Yield LLC (GGY), an alternative investment group, committed $200 million to the sports metaverse firm LootMogul, to expedite the adoption of blockchain gaming for sports organizations and athletes.

By the terms of the agreement, GGY will provide LootMogul with a share subscription facility of up to $200 million for 36 months following an equity exchange listing. The listing allowed LootMogul to draw funds by issuing equity shares to GGY. LootMogul controls the timing and the maximum size of such drawdowns but has no minimum drawdown obligation.
Additionally, the funding will accelerate the growth of LootMogul’s metaverse for sports games. The company said in a statement:
The funding will help build virtual sports cities worldwide with real-world benefits, brands and professional athletes on a true cross metaverse multi-chain platform on multiple devices such as Oculus, HoloLens, Web, Mobile & Console.

Full story here


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  • Home
  • News
  • ShortListed Companies
    • Nomination: AI Use Cases
    • Nominations
      • Top Global Event
      • Top Metaverse Platform & Virtual World
      • Top VC or Accelerator
      • Top Blockchain Developer Services Provider
      • Most Impactful Marketing Advertising Campaign
      • Most-promising Corporate VC Investment
      • Top Corporate Partnership
      • Top Legal Firm for Metaverse/Web 3.0 businesses
      • Top Avatar Design Company
      • Top Digital Twin Initiative Enterprise
      • Top Digital Twin Initiative Consumer
      • Top Cloud, Enterprise or Technology Partner
      • Top Partner for establishing early-stage presence in Metaverse
      • Most Innovative NFT Project
      • Top 3D Design Firm for Metaverse
      • Top Fashion Brand Initiative
      • Top Consumer Experience & Entertainment
      • Top Sports Brand Initiative
      • Top Enterprise Productivity initiative
      • Top Digital Payments platform
      • Most Exciting Scale-up Company
      • Top XR AR VR Firm
      • Most Exciting Hardware for Metaverse/Web3
      • Most Promising Haptics Initiative
  • 2023 Summit & Awards
    • VIP Jury
    • Agenda
    • Venue
      • Hotel Reservation
    • Tickets
      • Pay via Credit Card
  • Exhibitors
  • Contact
    • Sponsorship Options
    • FAQs
    • Brella Event App & Networking
    • 2022 Event
      • VIP Jury
      • Agenda 2022
      • Photos 2022
      • Videos 2022