GEM, a 3.4 billion alternative investment group announced that they put a $200M investment in a Sports Metaverse startup LootMogul. This provides the company with a share subscription facility of up to $200 million for a 36-month term following an equity exchange listing.
In the following paragraphs, I will tell you a little bit about both companies and what the huge investment is about. Also at the end of the article, we will share our point of view on this matter. So make sure to stick around.
LootMogul in Metaverse Worlds
LootMogul is an athlete-led sports metaverse. It is powered by virtual real estate, training academies, blockchain games, and meta shops for brands and athletes (IRL). The Company is expanding the web3 community by bringing web 2 gamers and sports fanatics to the metaverse.
What is GEM?
GEM Digital Limited is a digital asset investment firm. Based in The Bahamas, the firm actively sources, structures, and invests in promising utility tokens listed on over 30 centralized and decentralized exchanges globally.
Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group that manages a diverse set of investment vehicles and has completed over 540 transactions in 72 countries. GEM’s investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum.
The Big Investment In Metaverse
GEM said that they are expecting to boost the development of LootMogul’s metaverse. That means they want the company to focus on sports games only. This includes building meta sports cities around the world with real-world benefits. Such as brands & professional athletes. on a true cross metaverse & blockchain platform on multiple devices such as Oculus, HoloLens, Web, Mobile & Console.
This deal will allow LootMogul to withdraw funds by issuing equity shares to GEM without a minimum drawdown obligation. Allowing the startup to control when and how much funds will be used.
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.
With funds of 3.4 billion, GEM has been a source of capital for other startups in the crypto space. In June, the group invested $200 million in the CeDeFi exchange Unizen and $150 million in the South Africa-based H20 Securities through the sale of the H20N token.
What do we think?
We Think that this investment would be a huge deal in the metaverse world. This means that companies are starting to expand their point of view. They also are trying to get ahead of their competitors as the future is based on the Metaverse. But nobody for certain knows if the world is heading toward the right pass. This means that most of these big investments might end up falling and become enormous damage to the economy of the world. What’s safe to say is that being ambitious and open-minded about the future as never has failed anybody in history.
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