Metaverse Magna raises £3.2M in latest seed funding round

Multiple investors including WeMade participated in the round

Date Type Companies involved Size
September 6th, 2022 other Metaverse Magna
Not disclosed
Metaverse Magna raises £3.2M in latest seed funding round

Korean mobile games publisher WeMade, among other investors such as Polygon Studios, has been involved in the seed funding for Metaverse Magna.

Metaverse Magna Africa's first gaming DAO, which aims to provide a space for gamers to compete and earn crypto rewards along with parent company Nestcoin, has successfully secured a seed sale token of $3.2M.

Other investors include Hashkey, LD Capital and Tess Ventures. Metaverse Magna intends to expand their crypto gaming market across Africa and beyond with the money, firstly with their upcoming social gaming app launch 'Hyper', they also have plans to provide tools for developers by getting games into the hands of what they call their 'MetaKnights' and for guild operators, the guild management platform intended to give access to a wider scale of community members.

Gaming Boom

Speaking about their aims Metaverse Magna's general manager Yemi Johnson said “Our goal is to build Africa's largest gaming community while providing the tools across the ecosystem for gamers, investors, game developers, and guild operators. We believe this investment is a huge leap in creating value for all our stakeholders and facilitating the expansion of MVM's operations to provide opportunities for casual gamers through Hyper, our social gaming app with an embedded virtual wallet”

Africa is home to over 186 million gamers with growing access to the internet and Web3 gaming this means the video game industry is able to act as a way to introduce new people to the world of digital ownership and crypto wallet, Metaverse Magna has 100,000 community members so an investment from the likes of WeMade is major move to expand their own ecosystem of WeMix3.0 and is a strategic investment to start business in Africa moving forward.

South Korean video game developer Wemade are the creators of MMO titles such as Bless unleashed and Riders Of Icarus, they recently made our top 50 game makers list earlier in the year.

Deputy Editor

Paige is the Deputy Editor on who, in the past, has worked in games journalism covering new releases, reviews and news. Coming from a multimedia background, she has dabbled in video editing, photography, graphic and web design! If she's not writing about the games industry, she can probably be found working through her ever-growing game backlog or buried in a good book.