LOUD-affiliated Startup SNACKCLUB Raises $9M

SNACKCLUB, a startup affiliated with the Brazilian esports team LOUD, has closed a $9 million seed funding round.

Funds raised from Mechanism and other investors will be used to launch a DAO with a focus on “reimagining ownership in games.”

Animoca Brands, Ascension Assets, Formless Capital, Jump Crypto, OP Crypto, and Shima Capital also participated in the round.

The mission of SNACKCLUB is to educate players in the developing world about the coming GameFi era and its possibilities. Its creators emphasized that the new format could have a real impact on the incomes and lives of people in Latin America and Southeast Asia.

The audience of LOUD is 300 million people. SNACKCLUB expects the supporters of the esports team to join the emerging community of blockchain players.

The organization will introduce the community to new games, assets and development teams. Over time, users will begin to make strategic decisions regarding the use of game concepts and mechanics.