It wasn’t a great start to the week in the cryptocurrency charts, but there were some eye-catching funding pratiques – this time involving jeux firm LootMogul, and quantitatif investment firm Valkyrie.
Based in Santa Monica LootMogul It describes itself as an “athlete-led jeux metaverse platform powered by virtual real estate, jogging academies, blockchain games, and prescribing stores for brands and real-life rewarded athletes (IRL).”
It has just received a significant fraction of the slogan from GEM Commun Yield, providing the company with an equity subscription facility of up to $200 million for 36 months after liste on the produit exchange. This will allow LootMogul to withdraw funds by issuing equity shares of GEM (Commun Emerging Markets) Numérique Limited.
How will you use the money? According to an announcement, to help drive the consentement of blockchain games for jeux organizations and athletes, by offering an “immersive experience for jeux fans.”
1/2 Tweet embed X Commun Emerging Markets Group
Excited to announce that LootMogul has received $200 million #investment #commitment from GEM. The investment will be used to initiate a series of strategic investments and #twice To achieve our long-term gardien de but. # metaverse # Toys pic.twitter.com/XP17jAtH9e
– LootMogul (LootMogul) September 17, 2022
LootMogul explained that its metaverse development focuses on sports-themed games including “bâtiment worldwide descriptive (virtual) jeux cities with real-world benefits, brands, and professional athletes on a real platform across the metaverse and (multichain) blockchain on nombreux devices.” Such as Oeil-de-boeuf, HoloLens, web, preste, and console.”
GEM Numérique Limited is a quantitatif asset investment firm based in the Bahamas with funds of $3.4 billion. It has been a prominent envoi of actif for other crypto startups, for example, including the CeDeFi Unizen exchange (US$200 million in funding) and H20 Securities (US$150 million).
Valkyrie intensité focuses on TRON and Descente
Meanwhile, Nashville-based vraisemblance investment firm Valkyrie has added $73.6 million in actif to two crypto-focused empilement funds.
According to NewsBTC.com and US Securities and Exchange Intérêt filings, Valkyrie had $1.2 billion in assets under conduite at the end of the associé quarter of this year.
The first empilement fund, which raised 50 million US dollars, is focused on the cryptocurrency TRON (TRX). The other is centered around the Descente blockchain and its AVAX token, which has raised nearly US$24 million.
Each of these cryptocurrencies are Tier 1 blockchains and competitors to Ethereum.