{"id":29262,"date":"2022-09-17T04:42:52","date_gmt":"2022-09-17T04:42:52","guid":{"rendered":"https:\/\/egrowonline.com\/?p=29262"},"modified":"2022-09-17T04:42:52","modified_gmt":"2022-09-17T04:42:52","slug":"sports-metaverse-company-secures-200-million-funding","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=29262","title":{"rendered":"Sports Metaverse company secures $200 million funding"},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvYjY4ZGRkODctMjU1OS00ODY5LTgxYTYtZGQ3ZDcxMmRmODliLmpwZw==.jpg\" \/><\/p>\n<div data-v-6ebd806f=\"\">\n<p>Sports Metaverse startup LootMogul<a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/lootmogul-receives-200m-investment-commitment-from-global-emerging-markets-group-gem-301626329.html\" rel=\"noopener nofollow\"> secured<\/a> a $200 million investment commitment from Gem Global Yield, providing the company a share subscription facility of up to $200 million for a 36-month term following an equity exchange listing.\u00a0<\/p>\n<p>The company said that the funding is expected to boost the development of LootMogul&#8217;s metaverse focused on sports games, including &#8220;building meta (virtual) sports cities around the world with real-world benefits, brands &amp; professional athletes on a true cross metaverse &amp; blockchain (multichain) platform on multiple devices such as Oculus, HoloLens, Web, Mobile &amp; Console,&#8221; explained the company in a statement. <\/p>\n<p>The deal will allow LootMogul to withdraw funds by issuing equity shares to GEM without a minimum drawdown obligation, and allowing the startup to control when and how much funds will be used.<\/p>\n<p>The move follows a partnership announced in August with the open-source blockchain DigitalBits for the creation of the MOGUL tokens, a native token for its gaming ecosystem. The token is set to be added with an XDB\/MOGUL liquidity pool on the decentralized exchange NicoSwap.<\/p>\n<p>With funds of 3.4 billion, GEM has been a source of capital for other startups in the crypto space. In June, the group<a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/unizen-cedefi-smart-exchange-secures-200m-investment-from-gem\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/unizen-cedefi-smart-exchange-secures-200m-investment-from-gem\/amp\" rel=\"noopener\"> invested<\/a> $200 million in the CeDeFi exchange Unizen, and $150 million in the South Africa-based H20 Securities through the<a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/african-infrastructure-firm-lands-150m-to-launch-crypto-water-token\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/african-infrastructure-firm-lands-150m-to-launch-crypto-water-token\/amp\" rel=\"noopener\"> sale<\/a> of the H20N token.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/sports-metaverse-company-secures-200-million-funding\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sports Metaverse startup LootMogul secured a $200 million investment commitment from Gem Global Yield, providing the company a share subscription facility of up to $200 million for a 36-month term following an equity exchange listing.\u00a0 The company said that the funding is expected to boost the development of LootMogul&#8217;s metaverse focused on sports games, including [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":29263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[38],"tags":[20,901,67,545,7259,915],"class_list":["post-29262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-company","tag-funding","tag-metaverse","tag-million","tag-secures","tag-sports"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/09\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvYjY4ZGRkODctMjU1OS00ODY5LTgxYTYtZGQ3ZDcxMmRmODliLmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/29262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29262"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/29262\/revisions"}],"predecessor-version":[{"id":29264,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/29262\/revisions\/29264"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/29263"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29262"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}