Blockchain gaming platform Metaverse Magna (MVM) has secured $3.2 million in a seed sale token deal to boost its attempts to create Africa’s biggest gaming DAO and provide players access to top-tier possibilities.
Metaverse Magna, the second project that Nestcoin has made public, was hatched in collaboration with Old Fashion Research, a multi-strategy blockchain investment firm. It is a gaming guild introduced in December 2021 and is growing its gaming community.
Metaverse Magna provides over 1,000 players with play-to-earn scholarships for crypto games, such as Axie Infinity and Pegaxy. Over 100,000 people have joined the venture’s community and products since it launched.
A survey by the gaming analytics company Newzoo claims that the number of gamers in sub-Saharan Africa rose from 77 million in 2015 to 186 million in 2021. According to the survey, 95% of the market functions on mobile phones, which reflects the continent’s enhanced Internet access and availability of reasonably priced smartphones.
Nestcoin’s CEO and co-founder, Yele Bademosi, explained that Metaverse Magna could leverage the current market landscape and capitalize on the growing number of gamers on the continent, combined with the absence of any platform operating at the intersection of cryptocurrency.
Bademosi continued by saying that his primary motivation has been to see digital assets utilized more often in everyday life and as a tool for transforming the economy. Bademosi, a founding partner of Microtraction, has invested in several African Web3 businesses, including Buycoins, Yellow Card, and Bitsika. Before creating Bundle, a social payment platform for cash and cryptocurrency, he assisted Binance’s expansion into Africa.
“The evolution of crypto utility adoption in Africa is going to be driven by these applications that the everyday person can use,” he said.
Casper Johansen (Spartan), Wemade, Tess Ventures, LD Capital, Taureon, Gumi Cryptos Capital, HashKey, AFF, Polygon Studios, and IndiGG also participated in the round.
Although just 24% of Africans have access to the Internet, Bademosi thinks the continent is ready for a crypto-driven solution like MVM. He contends that Internet usage is exponentially increasing in Africa and that hundreds of millions of people there would have access to the Internet, followed by gaming and Web3.
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